1,721,073 research outputs found
Concession and lease or sale? A model for the enhancement of public properties in disuse or underutilized
No full textAlthough in many European countries the enhancement of public properties constitutes a theme of primary importance in the current economic situation, almost never Public Administrations have appropriate skills to rationally evaluate the best modality of valorization. This paper develops and test an evaluation model to support decisions of Public Administrations involved in the identification of the best modality of enhancement (concession and lease or sale) of public properties in disuse and/or underutilized. The model can be applied to any type of public property, but this research is focused on religious cultural buildings in disuse, common in Italy both in big cities and in smaller towns. The assumption underlying the model is that, since the properties considered are complex buildings, generally characterized by large dimensions, the form of bilateral monopoly market is always verified. The application of the model to three concrete cases, concerning religious buildings in disuse located in different areas of Southern Italy, shows that the model is a tool of simple use, exportable in any territorial context. The paper must be attributed in equal parts to the author
L'Analisi delle Opzioni Reali applicata alla valutazione di investimenti pubblici. Il caso della Certosa di Padula
No full textLa ricerca si propone di definire un modello di analisi economica da utilizzare nel processo di allocazione delle risorse disponibili presso gli Enti finanziatori. In particolare, lo studio vuole fornire al decisore un supporto per la selezione degli investimenti destinati allo sviluppo dei territori beneficiari di finanziamenti pubblici. La metodologia è applicabile in termini generali ad insiemi di interventi che, inerenti ad uno stesso bene e/o territorio, siano caratterizzati da rapporti di reciproca complementarietà
Benefici e costi nella valorizzazione dei beni culturali
No full textI progetti di rigenerazione delle risorse culturali, quando concorrenti per finanziamenti pubblici, sono oggi valutati quasi esclusivamente attraverso il ricorso all'Analisi Costi Benefici (ACB)che, malgrado i suoi limiti, rimane il principale riferimento operativo. Il ricorso all'ACB impone la preventiva ricerca delle voci economiche di attivo e di passivo generate dal progetto. La individuazione e la determinazione di tali voci costituisce l'obiettivo del presente lavoro
Modelli di stima nel mercato immobiliare: l'utilizzazione della programmazione lineare
No full textThis paper deals with a multiple criteria analysis model for real estate appraisal. The model was created by Kettani O., Oral M. e Siskos Y. in the late 1990's, but has yet to be used in Italy. The model is pluri-equational and uses a linear programming. As the equations used are all univariate and do not have endogenous variables except those that every relation tries to explain; the application of the model allows the problem of the identification as well as the simultaneous valuation of the parameters to be overcome, with the problem being known as the "curse of dimensionality". The model is tested on a particular case and is compared to the multiple regression analysis. The experiment has highlighted the greater reliability of the results of the model as well as the visible advantages of the reduction of the basic hypothesis. The best performance comes from the main deductive component which leads to an enhanced capability of interpreting the case studied
Concession and lease or sale? A model for the enhancement of public properties in disuse or underutilized
No full textAlthough in many European countries the enhancement of public properties constitutes a theme of primary importance in the current economic situation, almost never Public Administrations have appropriate skills to rationally evaluate the best modality of valorization. This paper develops and test an evaluation model to support decisions of Public Administrations involved in the identification of the best modality of enhancement (concession and lease or sale) of public properties in disuse and/or underutilized. The model can be applied to any type of public property, but this research is focused on religious cultural buildings in disuse, common in Italy both in big cities and in smaller towns. The assumption underlying the model is that, since the properties considered are complex buildings, generally characterized by large dimensions, the form of bilateral monopoly market is always verified. The application of the model to three concrete cases, concerning religious buildings in disuse located in different areas of Southern Italy, shows that the model is a tool of simple use, exportable in any territorial context
Macroeconomic variables and real estate in Italy and in USA .Variabili macroeconomiche e mercato immobiliare in Italia e negli USA
No full textThis paper analyses the influence of the economic system on housing market price trends in the
usa and Italy using a Vector Autoregression Model (var). This econometric model comprises
the historic series of house prices from 1970 to 2012 and the historic series of certain macroeconomic
variables, defined through the empirical findings of similar studies carried out in an
international setting. Comparison between the Italian and American models exhibits a clearly
different attitude of demand for real estate in the two countries. Whilst the models developed
show a similar behaviour for the variable Gross Domestic Product, which has a direct influence
on housing prices, they highlight an opposite attitude for the variables ‘inflation’ and ‘stock price
index’. The variable interest rate, which contributes to explaining the variability of the Italian
housing prices, has no effect in the American model. For both models, the statistical significance
of the functional relationships identified and the logical interpretation of the behavioural and
institutional relations, arising from economic theory, confirm the reliability of the results
Least median of squares regression and minimum volume ellipsoid estimator for outliers detection in housing appraisal
No full textIn the real estate sector the regression analysis is the most used method for interpretative and predictive purposes. However, the presence of outliers in the estimative sample can lead to ordinary last squared regression models that do not represent the investigated market phenomenon, with the consequence of producing unreliable assessments. In the present research the issue of the identification and the removal of outliers is discussed. The outliers identified by the least median of squares regression (LMS) and the minimum volume ellipsoid estimator (MVE) are compared in order to test the coincidence or the diversity. A complete diagnosis of the data of the initial estimative sample is carried out, combining the robust residuals obtained with LMS and the robust distances obtained with MVE. The data are classified into regular observations, vertical outliers, good leverage points and bad leverage points, and cases to delete and those to keep in the sample are identified
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