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...similar analysis can be performed from the buyer’ssviewpoint. The full ranking of alternatives is by no means a new question for researchers,sespecially in the multicriteria area. The well-known DEA (=-=Charnes et al., 1978-=-)sattempts to distinguish between efficient and non-efficient alternatives, called DecisionsMaking Units (DMU), and also to provide useful benchmarks (target projection on thesefficiency frontier, set...

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...es necessary to identify the features that are relevant tosprice formation and to quantify their respective importance. In the literature, this hassusually been done by means of hedonic price models (=-=Rosen, 1974-=-). The hedonicsapproach views a residential property as a homogeneous possession, but conceptualisessit as made up of a basket of individual attributes such that each of them contributes tosproviding ...

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... an objective of thissstudy, since the methodologies were conceived under different hypotheses and also forsdifferent purposes. SPM and other well known multicriteria ranking methods such assELECTRE (=-=Roy, 1968-=-), AHP (Saaty, 1980), TOPSIS (Hwang and Yoon, 1981) orsPROMETHEE (Brans et al., 1986) are not comparable either, since the originality of thesSPM model arises from the relation established between the...

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...he proposals based on DEA to perform a full ranking are reasoned on graphicsillustration of the DMU’s on attributes axes (Sexton et al., 1986; Andersen andsPetersen, 1993; Sinuany-Stern et al., 1994; =-=Ertay and Ruan, 2005-=-). However, making a comparison between SPM and DEA is not an objective of thissstudy, since the methodologies were conceived under different hypotheses and also forsdifferent purposes. SPM and other ...

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...ied to the goods in the equilibrium set and not to the two sets ofsnon-efficient goods that would result from taking the viewpoints of buyer and sellersseparately. Definition 3.4: Moderate pessimism (=-=Ballestero, 2002-=-) A moderately pessimistic decision maker is one who assumes conservatively that thesmost favourable in a set of possibilities is not the one that will ultimately take places(without making conjecture...

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...nking of them. SPM has recently been appliedssuccessfully to the purchase of capital goods (Talluri, 2002), to hospital efficiencys(Ballestero and Maldonado, 2004), and to selecting textile products (=-=Ballestero, 2004-=-).sThe novelty of our proposal lies in its field of application, namely the ranking ofsresidential properties, and the double perspective adopted: seller and buyer. Our aim,swhich is to find a model o...

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...luation) ofsthe different attributes that define a property. Considering the most general form of as3utility function, Ballestero and Romero (1991, 1993) make use of CompromisesProgramming (Yu, 1973; =-=Zeleny, 1973-=-, 1974) to establish a weighting system in whichsthe weight of each attribute is inversely proportional to the difference between its idealsvalue and anti-ideal. The weights are conceptualized as shad...

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...ectlysapplicable on different economic scenarios posed by the same authors (Ballestero andsRomero, 1994). Among these, noteworthy is the full ranking of organizational units insthe efficiency models (=-=Ballestero, 1999-=-). A more detailed economic interpretation cansbe found in Ballestero (2002, pages 90-94). The following section also provides a briefsinterpretation of this choice of weights. The single price model ...

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...f goods and their relevant features as givens, the intent is to arrivesat the EI of each and build a full ranking of them. SPM has recently been appliedssuccessfully to the purchase of capital goods (=-=Talluri, 2002-=-), to hospital efficiencys(Ballestero and Maldonado, 2004), and to selecting textile products (Ballestero, 2004).sThe novelty of our proposal lies in its field of application, namely the ranking ofsre...