EconPapers    
Economics at your fingertips  
 

How Appraisers Do Their Work: A Test of the Appraisal Process and the Development of a Descriptive Model

Julian Diaz (reddjd@panther.gsu.edu)
Additional contact information
Julian Diaz: Department of Real Estate Georgia State University P.O. Box 4020 Atlanta, Georgia 30302-4020, http://www.robinson.gsu.edu/realestate/

Journal of Real Estate Research, 1990, vol. 5, issue 1, 1-16

Abstract: Actual decisionmaking behavior is rarely the focus of real estate valuation research, but this paper argues the need for just such investigations and reports the results of one study. Two hypotheses concerning the relationship between the appraisal process and the actual behavior of expert appraisers are developed. An experimental test of these hypotheses reveals evidence that the behavior of expert appraisers deviates significantly from the prescribed appraisal process. Based upon the experimental observations, a model of actual expert behavior is built and compared to the prescribed model. Some implications of the observed behavioral divergence are discussed.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1990
References: Add references at CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
http://pages.jh.edu/jrer/papers/pdf/past/vol05n01/v05p001.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jre:issued:v:5:n:1:1990:p:1-16

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://pages.jh.edu/jrer/about/get.htm
equarle@clemson.edu

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Bibliographic data for series maintained by JRER Graduate Assistant/Webmaster (jrer@jhu.edu).

 
Page updated 2024-12-28
Handle: RePEc:jre:issued:v:5:n:1:1990:p:1-16