Applications of fuzzy quantitative and mathematical method to assess land price as fixed assets

In this article, we point out several problems to assess the land price as fixed assets in Japan, and propose a new pricing method applying the fuzzy quantitative and mathematical method. Currently, the method based on the ordinary quantitative and mathematical method or the multiple-regression method is widely employed, where the prices for standard places are evaluated by personal property specialists and these methods are used to assess the price factor involved in the standard land prices. We extend the existing method in terms of the fuzzyness on both price factor and standard land prices by personal property specialists. Then it is shown that the underlying problem can be reduced to a simple linear programming. Through numerical experiments based on real data, we compare the new pricing method with the existing one and describe the usefulness for the proposed method.