Do valuers have a greater tendency to adjust a previous valuation upwards or downwards?

Journal of Property Investment & Finance

Volumn 17, Issue 4, 1999, Pages 365-373

  Havard, Timothy ^a  

^a UNIVERSITY OF MANCHESTER   (United Kingdom)

Author keywords

Commercial property; Individual behaviour

Indexed keywords

EID: 84986160807     PISSN: 1463578X     EISSN: None     Source Type: Journal    
DOI: 10.1108/14635789910271755     Document Type: Article

References (9)

1. Black, R.T. (1997), “Expert property negotiators and pricing information, revisited”, Journal of Property Valuation & Investment Vol. 15 No. 3, pp. 274-81.
2. Diaz III, J. (1990), “How appraisers do their work: a test of the appraisal process and the development of a descriptive model”, The Journal of Real Estate Research Vol. 5 No. 1, pp. 1-15.
3. Diaz III, J. (1997), “An investigation into the impact of previous value estimates on appraisal judgement”, Journal of Real Estate Research, Vol. 13 No. 1, pp. 57-66.
4. Diaz III, J. and Hansz, J.A. (1997), “How valuers use the value opinions of others”, Journal of Property Valuation and Investment, Vol. 15 No. 3, pp. 256-60.
5. Diaz III, J. and Wolverton, M.L. (1998), “A longitudinal examination of the appraisal smoothing hypothesis”, Real Estate Economics Vol. 26 No. 2, pp. 349-58.
6. Einhorn, H.J. and Hogarth, R.M. (1988), “Adaptation and inertia in belief updating the contrast/inertia model”, working paper, University of Chicago, Centre for Decision Research.
7. Gallimore, P. and Wolverton, M.L. (1997), “Price-knowledge induced bias: a cross cultural comparison”, Journal of Property Valuation and Investment Vol. 15 No. 3, pp. 274-81.
8. Havard, T.M. (1998), “An experimental evaluation of biases in the UK commercial valuation process”, Paper presented at the ERES/AEUREA conference, Maastricht, The Netherlands, April.
9. Tversky, A. and Kahneman, D. (1974), “Judgement under uncertainty: heuristics and biases”, Science September, pp. 1124-31.