Aspects of information processing in valuation judgement and choice

Gallimore, Paul

doi:10.1080/09599919408724108

Cited by 73 publications

(65 citation statements)

References 9 publications

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“…Behavioural property has been championed by Julien Diaz (1990; and is now associated with researchers including Paul Gallimore (1994;2000; and Deborah Levy (1999;, amongst others. It has successfully introduced psychological methods, recognising that property actors are humans who exhibit irrational, though sometimes consistent, behaviour.…”

Section: Emerging Methodologiesmentioning

confidence: 99%

Property Economics and Method: Formalising the Methodological Parameters for the Discipline

Small

2006

Pacific Rim Property Research Journal

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Section: Emerging Methodologiesmentioning

confidence: 99%

Property Economics and Method: Formalising the Methodological Parameters for the Discipline

Small

2006

Pacific Rim Property Research Journal

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“…information, such as previous value estimates or pending sale prices may act as reference points that may influence valuers in their current value estimates. This phenomenon is referred to as anchoring bias (Diaz, 1999;Gallimore, 1994). Anchoring bias occurs as the human brain seeks cognitive shortcuts (i.e.…”

Section: Professional Autonomy In Real Estate Valuationmentioning

confidence: 99%

Research bias in judgement bias studies – a systematic review of valuation judgement literature

Klamer

Gruis

2017

Journal of Property Research

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a faculty of economics and Management, hu university of applied sciences, utrecht, the netherlands; b faculty of humanities, utrecht university, utrecht, the netherlands; c faculty of education, hu university of applied sciences, utrecht, the netherlands; d faculty of architecture and the Built environment, Delft university of technology, Delft, the netherlands ABSTRACT Valuation judgement bias has been a research topic for several years due to its proclaimed effect on valuation accuracy. However, little is known on the emphasis of literature on judgement bias, with regard to, for instance, research methodologies, research context and robustness of research evidence. A synthesis of available research will establish consistency in the current knowledge base on valuer judgement, identify future research opportunities and support decision-making policy by educational and regulatory stakeholders how to cope with judgement bias. This article therefore, provides a systematic review of empirical research on real estate valuer judgement over the last 30 years. Based on a number of inclusion and exclusion criteria, we have systematically analysed 32 relevant papers on valuation judgement bias. Although we find some consistency in evidence, we also find the underlying research to be biased; the methodology adopted is dominated by a quantitative approach; research context is skewed by timing and origination; and research evidence seems fragmented and needs replication. In order to obtain a deeper understanding of valuation judgement processes and thus extend the current knowledge base, we advocate more use of qualitative research methods and scholars to adopt an interpretative paradigm when studying judgement behaviour.

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“…The following authors have all made contributions to this research: Black and Diaz (1996), Diaz (1997), Hansz (1997, 2001), Diaz and Wolverton (1998), Gallimore (1994Gallimore ( , 1996, Wolverton (1997, 2000) and Hardin (1998). The main finding was that behaviourally, individuals were biased and that this affected decision making.…”

Section: Behavioural Property Research Literaturementioning

confidence: 99%

Professional Socialisation of Valuers: What the Literature and Professional Bodies Offers

Page

2005

Book of Abstracts: 2005 European Real Estate Society Conference in Association With the International Real Estate Society - Dub

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Aspects of information processing in valuation judgement and choice

Cited by 73 publications

References 9 publications

Property Economics and Method: Formalising the Methodological Parameters for the Discipline

Property Economics and Method: Formalising the Methodological Parameters for the Discipline

Research bias in judgement bias studies – a systematic review of valuation judgement literature

Professional Socialisation of Valuers: What the Literature and Professional Bodies Offers

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