ꆡ2009쓪01퓂Jan1,2009(뗚23뻭뗚1웚ꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡ)EastCꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡhinaEconomicManagement(,)ꇱ쪵컱ꆤ랽램돇쫐랿뗘닺볛룱뚨볛랽쪽뗄뒴탂폫퓋폃쇵뛻쮼,뚡ꆡ튻(퓆쓏닆뺭듳톧ꆡ맺볊릤짌톧풺,퓆쓏ꆡ삥쏷ꆡ650221)[햪튪]뒫춳랿뗘닺맀볛벼쫵ꆪꆪꆪ쫐뎡뇈뷏램쫇튻훖훘튪뗄맀볛랽램,떫볆쯣짏듦퓚솽듳뻖쿞:튻쫇볆쯣맽돌뷏캪듖싔,펰쿬뺺헹뚨볛돌뛈;뛾쫇볆쯣랱쯶,퓶볓움맀돉놾ꆣ컄헂뛔쫐뎡뇈뷏램뷸탐룄뷸뒴탂,춨맽뾼달훐탄돇쫐랿뗘닺볛룱룷훖릹돉틲쯘뛔뚨볛뗄펰쿬,붨솢닣듎럖컶쒣탍,좷뚨좨훘늢샻폃믒즫맘솪럖컶랽램움맀쒿뇪쿠쯆돌뛈,틔좷뚨헢킩틲쯘뛔쒿뇪뚨볛뗄펰쿬돌뛈,ퟮ훕좷뚨슥엌뻹볛ꆣ룹뻝슥엌뻹볛,뮹뿉틔샻폃닮뇰뚨볛램,뛔풰쟸쓚뗄슥엌뷸탐룶뇰뚨볛,틔뗃뒦룼볓뺫좷ꆢ볲뇣뗄뚨볛랽램ꆣ[맘볼듊]쫐뎡뇈뷏램;닣듎럖컶램(AHP);믒즫맘솪럖컶[훐춼럖샠뫅]F407ꆡꆡꆡ[컄쿗뇪횾싫]Aꆡꆡꆡ[컄헂뇠뫅]1007ꆪ5097(2009)01ꆪ0132ꆪ06TheAnalysisofPricingMethodforRealEstateProjectinCityLIUEr2si,DINGYi(InternationalBusinessSchool,YunnanUniversityofFinanceandEconomics,Kunming650221,China)Abstract:Traditionalcomparisonapproachasoneofimportantevaluatingskillhastwolimitations,oneisthecalculationiscursoryandthecompetedpricesettingwillbeaffected;:marketcomparisonapproach;AHPlayeranalysismodel;greycorrelationanalysisꆡꆡ튻ꆢ컊쳢뗄쳡돶볓쇋움맀돉놾ꆣ퓚쿖쪵뗄랿컝뚨볛훐,뾪랢짌뫜쓑퓋랿뗘닺볛룱뻶닟쫇뾪랢짌춶뻶닟뗄뫋탄컊쳢,폃헢튻랽램뷸탐볛룱뻶닟,틲듋,쓜럱헒떽룼뻟뿍맛쫇쫐뎡뺺헹뗄훘튪쫖뛎ꆣ랿뗘닺볛룱뻶닟뗄랽램뷏뛠,폖쓜뺫좷ꆢ볲뇣뗄볛룱뻶닟랽램,놾컄뷸탐첽쯷,쫔웤훐쫐뎡뇈뷏램,쫇튻훖훘튪뗄맀볛랽램,쿠뛔폚웤춼뛔쫐뎡뇈뷏램쳡돶룄뷸,캪튵뷧쳡릩폐킧뗄볛룱뻶쯻랽램,웤쳘뗣룼캪횱뷓뗘틀뾿쿖쪵뗄쫐뎡쇏,뿍닟닎뾼ꆣ맛랴펳볛룱좨뇤,룼럻뫏떱쫂죋쿖쪵뺭볃탐캪,놻죏뛾ꆢ뛔쫐뎡뇈뷏램룄뷸뗄쮼슷캪쫇쪵폃랶캧맣ꆢ뿉뾿탔잿뗄움맀랽램(폡쏷탹,11샻폃AHP쒣탍좷뚨펰쿬볛룱틲쯘뗄좨훘2004)ꆣ떫헢튻랽램퓚볆쯣짏듦퓚솽듳뻖쿞:튻쫇볆쯣AHP벴닣듎럖컶램(AnalyticHierachyProcess),맽돌뷏캪듖싔,쎻폐뾼싇룷훖볛룱틲쯘뛔떱뗘랿뗘닺평쏀맺퓋돯톧볒즳떩(T1L1Saaty)쳡돶,쫇냑뻶닟헟볛룱뗄ퟷ폃벰쿠맘뺺헹슥엌뛔볛룱뚨볛뗄펰쿬돌뛈;뗄뺭퇩에뛏룸폨솿뮯,ퟷ돶뚨탔폫뚨솿럖컶쿠뷡뫏뗄뛾쫇헢튻랽램춨뎣닉폃떥쳗랿컝뷸탐움맀,떼훂퓚춬뛠쒿뇪뻶닟랽램(폡쏷탹,2004)ꆣ헢튻랽램냑뢴퓓뗄튻떥풪ꆢ춬튻떥쳥붨훾믲춬튻풰쟸쓚뗄뛠쳗쿠쯆뮧탍쾵춳럖뷢돉죴룉틲쯘,내맘솪맘쾵ퟩ돉뗝뷗닣듎뷡릹ꆣ뗄랿컝,튲튪튻튻쪹폃헢튻랽램,떼훂볆쯣랱쯶,퓶퓋폃폚랿뗘닺춶뻶닟,뿉틔럖컶룷훖틲쯘뛔볛룱탎[쫕룥죕웚]2009ꆪ01ꆪ08[ퟷ헟볲뷩]쇵뛻쮼(1959ꆪ),쓐,뺭볃톧늩쪿,뷌쫚,퇐뺿랽쿲:쟸폲뺭볃,춶죚뺭볃;뚡ꆡ튻(1981ꆪ),쓐,쮶쪿,퓆쓏뺭볃횰튵벼쫵톧풺붲쪦,퇐뺿랽쿲:랿뗘닺뺭볃ꆣꆪ132ꆪ
돉뗄펰쿬돌뛈ꆣ내펰쿬훐탄돇쫐랿뗘닺볛룱뻶닟뗄틲쯘내닣벶럖,(1)AHP쒣탍뗄릹붨죧춼1쯹쪾:춼1ꆡ닣벶뮮럖펰쿬훐탄돇쫐랿뗘닺볛룱뻶닟뗄뻶닟틲쯘ꆡꆡ죧춼1쯹쪾,펰쿬랿뗘닺볛룱뗄펰쿬평쟸캻틲쯘ꆢ훆폚뻟쳥뗄볛룱틲쯘ꆣ쏷좷닣벶맘쾵뛔랿뗘닺볛룱닺룶뇰틲쯘ꆢ튻냣틲쯘ꆢ펪쿺틲쯘릹돉ꆣ헢킩틲쯘내럖짺뗄펰쿬,쫇컒쏇뷸탐볛룱움맀뗄쫗튪뮷뷚,떫헢뮹늼랶캧럖뇰뒦폚죽룶닣듎횮훐,벴쒿뇪닣ꆢ훆풼틲쯘늻릻,뮹튪뷸튻늽좷뚨룷틲쯘뛔볛룱펰쿬뗄돌뛈ꆣ컒훷닣듎ꆢ훆풼틲쯘ퟓ닣듎ꆣ쒿뇪닣릹돉펰쿬룷틲쯘뛔쏇닉폃랿뗘닺움맀릫쮾뛔랿닺볛룱펰쿬틲쯘뛔늻춬닣랿뗘닺볛룱뗄좨훘,훆풼틲쯘훷닣릹돉펰쿬랿뗘닺볛듎뗄좨훘뷸탐뿍맛듲럖,뗃돶ퟛ뫏에뛏횸뇪,룹뻝횸룱뗄좨훘튪쯘,훆풼틲쯘듎닣릹돉펰쿬랿뗘닺볛룱좨뇪ퟷ돶펰쿬틲쯘뗄뇈뷏뻘헳,뛔쒳튻킡쟸펰쿬랿닺볛훘튪쯘뗄뻟쳥쓚죝ꆣ룷틲쯘뗄볛룱좨훘쫜훆폚랿뗘닺룱뗄룷닣듎뷸탐듲럖뗃돶뗄뇈뷏뻘헳(뇭1ꆢ뇭2ꆢ볛룱뗄튪쯘릹돉,뛸랿뗘닺볛룱뗄튪쯘좨훘릹돉폖쫜뇭3):뇭1A-B뇈뷏뻘헳A좷뚨룷틲쯘좨훘펪쿺틲쯘(B1)튻냣틲쯘(B2)쟸폲틲쯘(B3)룶뇰틲쯘(B4)뾪엌쪱볤(B1)11/21/31/2뺭볃헾닟뮷뺳(B2)211/21쟸폲틲쯘(B3)3212룶뇰틲쯘(B4)211/21뇭2B3-C3뇈뷏뻘헳쟸폲틲쯘ꆡ붻춨뇣샻돌뛈믹뒡엤쳗짨쪩짌튵랱뮪돌뛈샫쫐훐탄뻠샫쟸폲뮷뺳B3(C31)(C32)(C33)(C34)(C35)붻춨뇣샻돌뛈(C31)111/21/21믹뒡엤쳗짨쪩(C32)111/21/21짌튵랱뮪돌뛈(C33)22112샫쫐훐탄뻠샫(C34)22112쟸폲뮷뺳(C35)111/21/21뇭3B4-C4뇈뷏뻘헳쟸폲틲쯘킡쟸쓚뮷뺳쏀뮯쫒쓚ힰ탞쟩뿶짺믮뾵샖짨쪩랢햹짌ꆢ컯튵맜샭욽쏦짨볆(B4)돌뛈(몬뺰맛)(C41)(C42)(C43)(C44)(C45)킡쟸쓚뮷뺳쏀뮯돌뛈(몬뺰맛)13232(C41)쫒쓚ힰ탞쟩뿶(C42)1/311/211/2짺믮뾵샖짨쪩(C43)1/22121랢햹짌ꆢ컯튵맜샭(C44)1/311/211/2욽쏦짨볆(C45)1/22121ꆪ133ꆪ
ꆡꆡ돵늽뇈뷏뿉틔뾴돶,룷튪쯘퓚닣듎럖늼훐뛔헻룶P1(51026513),P2(5101013),P3(51009749),움맀뛔쿳뗄좨훘늢뗃돶뇈뷏뻘헳뗄횸뇪,헢퇹,컒쏇P4(5101013),P5(51009749)벴뿉틔뷸탐좨훘럖컶ꆣꛋ=51013254(2)뗚튻닣듎릹돉틲쯘좨훘럖컶ꆣ뛔폚뇭1,뇭에뛏뻘헳뗄RI횵,CRꇜ0101,춨맽튻훂탔볬퇩ꆣ쓚2,뇭3뇈뷏뻘헳뗄횸뇪릹돉,컒쏇샻폃랽룹램뻘헳볆뮷뺳쏀뮯돌뛈ꆢ쫒쓚ힰ탞쟩뿶ꆢ짺믮뾵샖짨쪩ꆢ랢햹짌벰쯣뗚뛾닣틲쯘뗄좨훘뗃돶:컯튵맜샭킡쟸ꆢ욽쏦짨볆웤뛔볛룱펰쿬훘튪탔좨쫽펪쿺틲쯘ꛘ캪015373,튻냣틲쯘ꛘ캪110000,쟸36181%,10193%,20165%,10193%,20165%ꆣ폲틲쯘ꛘ캪118612,룶뇰틲쯘ꛘ캪110000ꆣ(5)볆쯣펰쿬틲쯘뗄좨훘뷡맻춨맽뛔룷닣틲쯘뗄ꇆ4ꛘꛘ좨훘럖컶,ퟮ훕뿉뗃떽룷뇈뷏틲쯘뗄ퟜ좨훘죧뇭4ꆣi=413985,ꛘ=iii=1ꇆ4ꛘ춨맽럖컶,뷸튻늽뗃돶룷닣듎펰쿬볛룱뗄틲쯘릹돉,ii=1=ꛘ1(0112215),ꛘ2(0122735),ꛘ3(0142315듓뛸릹붨룷틲쯘뛔랿닺볛룱뗄펰쿬좨훘,헢뻍캪탞헽),ꛘ쫐뎡뇈뷏램뒴퓬쇋쳵볾ꆣ4(0122735)BꆤW=(Bꛘ)1(014906),(Bꛘ)2(019106),뇭4룷뇈뷏틲쯘뗄ퟜ좨훘뇭(Bꛘ)3(116990),(Bꛘ)4(019106)펪쿺틲쯘C11=011222ꇆ4bꆤꛘijj튻냣틲쯘C21=012274j=1ꛘi붻춨뇣샻돌뛈C31=010604=P1(4101591),P2(41005175),P3(41015165),믹뒡엤쳗짨쪩C32=010604P4(41005175)ꛋ짌튵랱뮪돌뛈C33=011209=41010356에뛏뻘헳뗄샫쫐훐탄뻠샫C34=011209RI횵,CRꇜ0101,춨맽튻훂탔볬퇩ꆣ룃닣틲쯘좨훘뛔볛룱펰쿬뗄훘튪탔럖뇰캪:쟸캻틲쯘쟸폲뮷뺳C35=010604킡쟸쓚뮷뺳쏀뮯돌뛈C41=01083742132%,펪쿺틲쯘12121%,룶뇰틲쯘22174%,튻냣틲쯘쫒쓚ힰ탞쟩뿶C42=01024922174%ꆣ짺믮뾵샖짨쪩C43=010470(3)뗚뛾닣듎럖샠틲쯘좨훘럖컶ꆣ춬샭,붻춨뇣샻돌뛈C31ꛘ캪017579,믹뒡엤쳗짨쪩C32ꛘ캪랢햹짌ꆢ컯튵맜샭C44=010249017579,짌튵랱뮪돌뛈C33ꛘ캪115157,샫쫐훐탄뻠욽쏦짨볆C45=010470샫C34ꛘ캪115157,쟸폲뮷뺳C35ꛘ캪017579ꆣꇆ5ꛘ21샻폃믒즫맘솪램뫍닮뇰뚨볛램볆쯣랿볛=513050ii=1닎뾼쫐뎡뇈뷏램뛔뇈뷏낸샽듲럖뗄냬램,붫맀볛BꆤW=ꛘ1(0114286),ꛘ2(0114286),ꛘ3뛔쿳뗄뻟쳥쟩뿶짨캪믹ힼ럖100,룹뻝뇈뷏낸샽폫맀볛(0128571),ꛘ4(0128571),ꛘ5(0114286)뛔쿳뷸탐뇈뷏움럖,움럖풽룟뇭쪾맀볛뛔쿳뇈뇈뷏낸=P1(5),P2(5),P3(5),P4(5),P5(5)샽쳵볾풽뫃,랴횮퓲닮ꆣ춨맽틔쿂늽뻛뛔쫐뎡뇈뷏램ꛋ=5뷸탐늹돤ꆣ에뛏뻘헳뗄RI횵,CRꇜ0101,춨맽튻훂탔볬퇩ꆣ(1)샻폃믒즫맘솪럖컶램좷뚨슥엌뻹볛ꆣ붫풤쫛붻춨뇣샻돌뛈ꆢ믹뒡엤쳗짨쪩ꆢ짌튵랱뮪돌뛈ꆢ샫쫐슥엌뗄룷뇈뷏틲쯘짨캪닎뾼탲쇐,웤쯻뿉뇈뷏슥엌짨훐탄뻠샫뫍쟸폲뮷뺳웤뛔볛룱펰쿬뗄훘튪탔좨쫽럖뇰캪뿉뇈탲쇐,좷뚨룷뇈뷏슥엌뛔닎뾼슥엌뗄맘솪쾵쫽캪14129%,14129%,28157%,28157%ꆣꛎ0(j)뻘헳ꛎꆣi(4)뗚죽닣듎럖샠틲쯘좨훘럖컶ꆣ춬샭,킡쟸쓚ꋙ좷뚨뇈뷏낸샽뗄맘솪뛈ꆣ룹뻝잰쏦볆쯣뗃돶룷뮷뺳쏀뮯돌뛈(몬뺰맛)C41ꛘ캪210477,쫒쓚ힰ탞뇈뷏틲쯘뗄좨훘뗃떽쇐뻘헳죧쿂:쟩C42ꛘ캪016084,짺믮뾵샖짨쪩C43ꛘ캪111487,랢햹짌ꆢ컯튵맜샭C44ꛘ캪016084,욽쏦짨볆C45ꛘ캪111487ꆣꇆ5ꛘ=515618ii=1BꆤW=ꛘ1(01368167),ꛘ2(01109383),ꛘ3(01206534),ꛘ4(01109383),ꛘ5(01206534)ꆪ134ꆪ
ꋚ볆쯣닎뾼슥엌뻹볛ꆣ룹뻝잰쏦쟳뗃뗄맘솪뛈,붫4룶뇈뷏붻틗뗄틲쯘볓죫4룶늻춬뗄뇈뷏뛓쇐X=i붫맘솪뛈내듓킡떽듳뗄쮳탲뷸탐업쏻뗃떽맘솪뛈탲쇐r{X(1),X(2),X(3),ꆭ,X(12)}(i=1,2,3,4)ꆣ샻iiii={r(1),r(2),ꆭ,r(n)};늢붫룃쿮쒿탲쇐뛔폃짏튻늽,쾵쫽탞헽뗄뷡맻,헢샯뿉뗃X1={014597,펦뗄평쫐뎡램탞헽뫳뗄볛룱ퟩ돉튻룶볛룱탲쇐P={p110000,013871,ꆭ,015730},X2={013333,110000,(1),p(2),p(3),ꆭ,p(n)};샻폃횸쫽욽뮬램11000ꆭ014597},X3={014597,110000,11000,ꆭ,붨솢랿뗘닺뚨볛뗄맀볛쒣탍:110000},X4={110000,110000,11000,ꆭ,014747},룹p=r(1()p1+r(2)1-r(1))p2+r(3()1-r(1)()1-r(2))뻝릫쪽ꚤ0(j)=꛲X(j)-Xii0(1)꛲,뿉뗃떽퓚쯹폐뗄닮p3+k+r(n()1-r((1))1-r(2))ꆭr(n()1-r)((1)1-r)(2)횵ꚤ0(j),듓헢킩횵훐톡좡ퟮ듳벰ퟮ킡횵ꆣ춨맽릫쪽iꆭ3(1-r)(n-1))pn+(1-r(1)()1-r(2)ꆭ(1-r(n)-1)pn(ꛎꚤmin+ꛑꚤmax0(j)=iꚤ맘솪쾵쫽ꛎ0(j),헢샯i쪽훐30(j)+ꛑꚤm)살볆쯣axi:pn캪풤닢돵쪼횵,좡캪n룶샠쯆쿮쒿쿺쫛볛룱뗄쯣쫵욽뻹횵ꆣ짨ꛑ=01500,뻘헳쪽캪:퓚쪵볊릤ퟷ훐,뾼싇떽좨훘쮥복럇뎣뿬,맘솪뛈캪뗚4뗄랿뗘닺쿺쫛볛룱뗄좨횵틑뺭쿠떱킡,튻냣뿉틔뫶싔,춨뎣횻좡맘솪뛈ퟮ듳뗄3룶샠쯆쿮쒿뷸탐볆쯣:볆쯣뷡맻뗃떽쪵솦놱낶ꆢ뷰쪵킡쟸ꆢ붭뚫킡뾵돇ꆢ(3)p=r(1)p1+r((2)1-r(1))p2+r(3()1-r(1)()1-럯믋돇뗄믒즫맘솪뛈캪(017610,017542,018445,1Tr(2))p3+(1-r(1)()1-r((2))1-r(3))ꆭ017744)ꆣ3뗚컥늽,쟳뗃뻹볛ꆣ뷨훺짏튻늽뗄뷡맻,컒쏇뿉(1-r(n-1)()p1+p2+p3)(2)닮뇰뚨볛램좷뚨슥엌룶뇰볛룱ꆣ룹뻝닮뇰뚨틔룸쯻쏇뗄믒즫맘솪뛈내듓듳떽킡업탲{018445,볛램뗄쮼쿫017744,017610,017542},헢벸룶슥엌틀듎쫇붭뚫킡,퇻쟫랿뗘닺뺭볍짌믲볒뛔뾪랢슥엌뗄쎿튻떥풪슥닣뷸탐움럖,춳볆볆쯣뫳뗃돶떥풪뫍슥닣뾵돇ꆢ럯믋돇ꆢ쪵솦놱낶벰뷰쪵킡쟸ꆣ룹뻝볆쯣릫쪽(3)뗄닮볛싊,ퟮ뫳룹뻝슥엌뻹볛좷뚨쎿튻쳗랿닺뗄쫐뎡p=r(1)p1+r(2()1-r(1))p2+r(3()1-r)((1)1-볛횵ꆣ1r)((2)p3+1-r(1)()1-r(2)()1-r(3))ꆭ(1죽ꆢ쪵횤퓋폃3룹뻝틔짏럖컶뷡맻-r(n(-1))p1+p2+p3),컒쏇뛔쒳쪡믡돇쫐쒳슥엌뷸탐퇹놾퇩횤ꆣ뿉틔뗃떽룃슥엌뗄뻹볛캪:5417143풪/M2ꆣ뗚쇹늽,볒듲럖좷뚨슥엌닮볛싊ꆣ볆쯣떥풪벰11슥엌캻훃ꆣ쟸캻:뛾뮷슷뇟ꆣ붻춨쳵볾:헻룶킡쟸뾿뷼쫐헾릫슷,릫붻랽뇣,뗀슷춨듯탔뫃ꆣ엤쳗룷슥닣쿻럑헟릺싲뗄욫뫃돌뛈,벴떥풪벰슥닣뗄닮볛짨쪩싊,ퟩ횯평랿뗘닺뺭볍짌벰움맀쪦릹돉뗄10죋볒킡:훜뇟킡쟸쫴폚뷼쓪살삥쏷뾪랢돉쫬뗄뗘쟸,닍망ꆢ뎬쫐ꆢ짌좦뗈뚼튻펦뻣좫ꆣ폃뗘쪹폃탔훊ퟩ뛔룷떥풪벰슥닣뷸탐움럖,뗃돶뗄뷡맻럖뇰캪:룷:킴ퟖ슥ꆢ힡햬ꆣ췁뗘쏦믽:7783욽랽쏗ꆣ쪹폃쓪웚떥풪횮볤닮볛싊럖뇰캪A-1캪01905,A-2캪:70쓪ꆣ11062,A-3캪11078;B-1캪11004,B-2캪1104,B-3캪1101;C-1캪01993,C-2캪11016,C-321붨훾랽낸ꆣ슥엌럖캪AꆢBꆢCꆢDꆢE릲5뒱,캪11002;D-1캪01992,D-2캪01983,;E-1캪14룶떥풪,슥룟77183쏗ꆣ31뚨볛쮼슷:뗚튻늽:럖컶쿮쒿쳘뗣,좷뚨펰쿬01973,E-2캪01972,E-3캪01971ꆣퟜ욽뻹럖횵캪볛룱뗄틲쯘810871,늢톡좡뿉뇈뷏뗄볛룱쪵샽(볻뇭5)ꆣ뗚뛾늽:헫뛔룷뇈뷏슥엌뫍쒿뇪뚨볛슥엌뗄뇈뷏룷슥닣횮볤볛닮싊럖뇰캪1슥캪01955,2슥캪뛔룷틲쯘듲럖(볻뇭01956,3슥캪01967,4슥캪01976,5슥캪01984,66)ꆣ뗚죽늽:샻폃뒫춳쫐뎡뇈뷏램쒣탍뗄탞헽랽램탞슥캪01994,7슥캪11003,8슥캪1101,9슥캪11019,헽쎿튻쿮뇈뷏쾵쫽ꆣ10슥캪11022,11슥캪11028,12슥캪11034,13슥캪뗚쯄늽11051,14슥캪1106,15슥캪11068,16슥캪11089,:샻폃믒즫맘솪쒣탍좷뚨룷뇈뷏슥엌뛔쒿뇪뚨볛슥엌뗄맘솪뛈(볻뇭17슥캪11096ꆣퟜ욽뻹럖횵캪9107ꆣ7)ꆣ붫움맀뛔쿳뗄룷쿮틲쯘볓죫닎뾼뛓쇐뗚웟늽,떥쳗슥랿뚨볛ꆣX0={X0ퟮ뫳룹뻝닮볛싊뿉볆쯣뗃떽슥엌쓚쯹폐릫풢뗄볛(1),X0(2),X0(3),ꆭ,X0(12)}=X0{1,1,1,ꆭ1},늢횵뇭(볻뇭8)ꆣꆪ135ꆪ
ꆡꆡ뇭5틲쯘쳵볾쮵쏷뇭뇭6뇈뷏틲쯘쳵볾횸쫽뇭ꆪ136ꆪ
ꆪ137ꆪ
춾뺶쿲쫂쪵짏뗄훰늽럏돽쯀탌얬솦ꆣ죧맻컒쏇쓜뛔볈ퟛ짏쯹쫶,컒맺쒿잰뫍킳짧믡랢햹쒿뇪뗄좷솢,폐훆뛈폨틔뷸튻늽췪짆,ퟮ돤럖뗘랢믓웤릦킧,헢늻캪탌랣룄룯쳡릩쇋뚯솦폫랽쿲ꆣ컒맺훸쏻탌램톧볒십뷶쫇훐맺탌쫂램훆뷸늽뗄폖튻뇪횾,튲붫캪쫀뷧랶캧뿋닽횸돶:ꆰ튻룶맺볒뗄탌램샭싛죧맻쫇욶삧뗄,뫜쓑쓚췆뚯쿞훆ꆢ럏돽쯀탌퓋뚯ퟷ돶릱쿗ꆣ짨쿫룃맺쓜폐뇈뷏췪짆뗄탌램솢램ꆣꆱ틲듋,컒쏇펦떱쯄ꆢ맘폚ꆰ믮컞웚ꆱ폫ꆰ쯀컞웚ꆱ뗄쫊폃듓샭싛짏췆뚯컒맺탌쫂솢램뗄췪짆ꆣ놾붨틩뛔쿖탐탌본폚쮾램쪵볹훐컞웚춽탌쪵볊맘톺쪱볤뷏뛌,폫램뗄탞룄훷튪쫇:퓚놣쇴쯀탌뗄잰쳡쿂,듳럹뛈쿷복쯀탌닮뻠맽듳,캪쪹짺탌폫쯀탌룼뫏샭쿎뷓,붨틩냑쯀탌ퟯ쏻,늢퇏룱쿞훆뫍복짙쯀탌뗄쫊폃,캪ퟮ훕럏컞웚춽탌럖캪뿉틔복탌뗄컞웚춽탌(믲돆ꆰ믮컞웚ꆱ)돽쯀탌뒴퓬쳵볾ꆣ뫍늻뿉복탌뗄컞웚춽탌(믲돆ꆰ쯀컞웚ꆱ)ꆣ샽죧,첰쯤좻컒맺럏돽쯀탌탨튪뫜뎤튻뛎슷튪ퟟ,떫쫇컒컛쫜믟1000췲풪틔쿂뗄에ꆰ믮컞웚ꆱ,1000췲풪틔짏쏇펦룃뾴떽,듓맅듺퓸뺭랺샄튻쪱뗄퇏탌뿁랣떽17쫀뗄에ꆰ쯀컞웚ꆱꆣ뛔에뒦쯀뮺뗄횻쓜복캪훕짭늻뗃복볍틔뫳쯦ퟅ웴쏉톧볒탻퇯죋좨쮼쿫뗄늪탋,쯀탌뾪쪼탌ꆢ볙쫍뗄ꆰ쯀컞웚ꆱꆣ뛔폚ꆰ쯀컞웚ꆱퟯ랸,랲릹쫜떽쿞훆ꆣ횱훁쿖퓚탭뛠맺볒럏돽쯀탌,헻룶쯀탌뗄돉훘듳솢릦뗄,뿉틔늻쫜듋쿞ꆣ퇝뷸뻍쫇튻늿듓쯀탌햼뻝탌램쳥쾵뗄훐탄캻훃,떽쯀컥ꆢ맘폚럏돽쯀탌뗄쪱볤뇭탌퓚탌램쳥쾵훐뗄뗘캻쎿뿶폺쿂,틔훁폚쏦쇙ퟅ놻훰컒맺럏돽쯀탌뿉럖솽늽ퟟ:뗚튻늽,쿈탐럏돽럇돶탌램쳥쾵뗄뛲퓋뗄샺쪷ꆣ컒맺튪훰늽럏돽쯀탌,뇘놩솦랸ퟯ뗄쯀탌ꆣ퓚컒맺탌램훐,놩솦랸ퟯ뗄쯀탌ퟯ탫듓퇏룱쿞훆쯀탌쫊폃ퟶ웰,ퟮ룟램풺틑붫쯀탌뫋ힼ쏻풼햼30%,뛸럇놩솦랸ퟯ뗄쯀탌ퟯ쏻풼햼70%,헢좨쫕믘,뻍쫇폐솦뗄뻙듫ꆣ럏돽쯀탌늻횻쫇솢램ꆢ쮾퓚맺볊짏쫇뻸컞뷶폐뗄ꆣ떳뗄쪮컥듳쏷좷쳡돶,떽램늿쏅뗄쫂쟩,쯼쫇튻쿮ퟛ뫏릤돌,쯼폫뺭볃랢햹ꆢ2010쓪탎돉폐훐맺쳘즫뗄짧믡훷틥램싉쳥쾵ꆣ틲듋,짧믡룷쿮훆뛈뗄붡좫쫇쿠뢨쿠돉뗄ꆣ펦떱볡탅:쯀탌붨틩컒맺2010쓪잰럏돽좫늿럇놩솦랸ퟯ뗄쯀탌ꆣ뗚뛾뗄쿞훆횱떽ퟮ훕럏돽뇘붫ퟷ캪훐뮪컄쏷랢햹뗄훘튪샯늽,좫쏦럏돽쯀탌ꆣ붨틩퓚2020쓪훐맺좫쏦붨돉ꆰ킡돌놮뛸퓘죫컒맺탌램뗤횮훐ꆣ뾵짧믡ꆱ쪱,벴짧믡컄쏷뫍램훆랢햹듯떽뇈뷏랢듯뗄[짳룥:컢탋맺]돌뛈쪱,좫쏦럏돽쯀탌ꆣ[뇠킣:컢탋맺](짏뷓뗚137튳)ꆡꆡ쯄ꆢ뷡ꆡ싛[2]:AppraisalandFinance11퓋폃AHP닣듎쒣탍랴펳룷볛룱틲쯘뛔랿뗘닺뚨[M].Macmillan,London,1998.볛웰맘볼ퟷ폃,춨맽믒즫맘솪쒣탍에뚨룷뇈뷏슥엌뫍[3][M].Palgrave,쒿뇪슥엌뗄쿠쯆뛈(맘솪뛈)살좷뚨움맀뛔쿳뗄볛횵London,2002.펰쿬돌뛈,쓜릻쳡룟뒫춳쫐뎡뇈뷏램뗄퓋쯣뺫뛈[4]BaumA,[M].,쪹웤움맀볛횵뗄뿉뾿탔퓶잿ꆣThomson,UK,2002.[5]훐맺랿뗘닺맀볛쪦폫뺭볍죋킭믡(CIREAA).랿뗘닺21틽죫닮뇰뚨볛램,룹뻝떥풪뫍슥닣뗄늻춬,볆쯣웤닮볛싊,ퟮ뫳뗃떽쎿쳗릫풢뗄튻룶ퟛ뫏닮볛싊맀볛샭싛폫랽램[M].놱뺩:훐맺붨훾릤튵돶냦짧,,틔좷뚨웤볛횵,붵뗍쇋풭폐뇈뷏램퓚볆쯣뛠쳗샠쯆릫2005.[6]ꆶ퓋돯톧ꆷ뷌닄뇠킴ퟩ.퓋돯톧[M].놱뺩:쟥뮪듳풢쪱뗄볆쯣뢴퓓뛈ꆣ톧돶냦짧,럖컶뗄탭뛠돉맻뿉폃폚뷱뫳뛾듎움맀믲헟뛠듎[7]폠풴열.랿뗘닺쪵햽뚨볛폫쿺쫛닟싔[M].놱뺩:훐움맀,뇈죧AHP쒣탍럖컶쿂뗄랿뗘닺볛룱펰쿬틲쯘좨맺붨훾릤튵돶냦짧,2006.훘,늻뷶뿉틔폃폚쪵볊볛룱움맀,튲폐훺폚뗘랿뗘닺[8]폡쏷탹.랿뗘닺움맀랽램폫맜샭[M].놱뺩:훐맺뺭쫐뎡볛룱샭싛뗄퇐뺿;춨맽붨쒣뫳뗄믒즫맘솪쫐뎡맀볃돶냦짧,1999.볛쒣탍,횻탨퓚틲쯘움럖뇭훐,룄뇤쫽뻝,벴뿉뗃떽[9]폡쏷탹.랿뗘닺움맀[M].놱뺩:훐맺죋쏱듳톧돶냦움맀뷡맻,듳듳붵뗍쇋뛾듎퓋폃뗄돉놾,쳡룟쪵볹퓋짧,2004.폃뗄틢틥ꆣ[10]뗋뻛쇺.믒즫쾵춳믹놾랽램[M].커몺:뮪훐샭릤듳톧돶냦짧,1996.[닎뾼컄쿗][1][짳룥:탭풾믔]tment[M].Macmillan,London,1998.[뇠킣:헅ꆡ쟠]ꆪ156ꆪ
