Year: 2023
Type: preprint
Abstract: Predicting the price of a house remains a challenging issue that needs to be addressed. Research has attempted to establish a model with different methods and algorithms to predict the housing price, from the traditional hedonic model to a neural network algorithm. However, many existing algorithms in the literature are proposed without any finetuning and customization in the model. In this paper, the author attempted to propose a novel neural network-based model to improve the performance of housing price prediction. Inspired by the modular neural network, the proposed model consists of a three-level neural network that is capable to process information in parallel. The author compared several state-of-the-art algorithms available in the literature on the Boston housing dataset to evaluate the effectiveness of the proposed model. The results show that the proposed model provides better accuracy and outperforms existing algorithms in different evaluation metrics. The code for the implementation is available https://github.com/wijayarobert/MultiLevelDenseLayerNN
Source: arXiv (Cornell University)
Author: Wijaya, Robert
Institution: Australian National University
Language: English
Topic: Housing Market and Economics
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4387635299