A combined muilticriteria procedure for agriculture real estate valuation

Let us consider a problem of valuation of agricultural real estate. It is important to properly indentify their market value, which is determined by many factors. A detailed set of data on the properties that were the subject of the transaction is needed to accomplish this task. It is quite confusing in the case of agricultural land because the number of transactions in the local market is often not sufficient. The purpose of this paper is to present some method for multicriteria valuation of agriculture real estate. This technique is specifically created for situation in which limited information are available. It is a combination in valuation field of the Analytic Hierarchy Process (AHP) and Goal Programming (GP).