Uncertainty quantification in automated valuation models with locally weighted conformal prediction

no code implementations • 11 Dec 2023 • Anders Hjort, Gudmund Horn Hermansen, Johan Pensar, Jonathan P. Williams

Non-parametric machine learning models, such as random forests and gradient boosted trees, are frequently used to estimate house prices due to their predictive accuracy, but such methods are often limited in their ability to quantify prediction uncertainty.

Conformal Prediction Uncertainty Quantification