Describes an empirical study of real estate value estimates inMelbourne, Australia, for the purpose of testing to see if computergenerated values are as good as those produced by ordinary manualprocesses. Describes computer systems, including MRA and a process knownas comparables selection, a computerbased system which is an attempt toemulate the manual comparable sale selection system. Finds that themanual method outperformed that carried out by computers.
Journal of Valuation – Emerald Publishing
Published: Mar 1, 1989