Multicultural examination of valuation behaviour
Diaz, J.
Multicultural examination of valuation behaviour - 2004 - Journal of Property Investment and Finance 22(4) 2004, 339-346(8) .
A series of experiments were conducted to examine valuation behaviour in the UK, the US and New Zealand (NZ). Professional surveyors from all three countries participated in the study whose findings support the notion that the UK normative model is cognitively demanding and that greater departures from it result in reduced cognitive effort. The study also concluded that subjects from cultures requiring disclosure (US and NZ) examined a significantly greater number of sales than subjects from the UK where disclosure is uncommon. Finally, while valuers perhaps ought to increase sales search in unfamiliar markets, this research revealed no evidence that they did so. These findings are consistent with the need to seek cognitive efficiency and reduce cognitive effort even at the expense of performance quality. References [Taken from journal abstract].
VALUE ANALYSIS
VALUATION PROCESS
DISCLOSURES
SURVEYORS
UNITED KINGDOM
UNITED STATES
NEW ZEALAND
Multicultural examination of valuation behaviour - 2004 - Journal of Property Investment and Finance 22(4) 2004, 339-346(8) .
A series of experiments were conducted to examine valuation behaviour in the UK, the US and New Zealand (NZ). Professional surveyors from all three countries participated in the study whose findings support the notion that the UK normative model is cognitively demanding and that greater departures from it result in reduced cognitive effort. The study also concluded that subjects from cultures requiring disclosure (US and NZ) examined a significantly greater number of sales than subjects from the UK where disclosure is uncommon. Finally, while valuers perhaps ought to increase sales search in unfamiliar markets, this research revealed no evidence that they did so. These findings are consistent with the need to seek cognitive efficiency and reduce cognitive effort even at the expense of performance quality. References [Taken from journal abstract].
VALUE ANALYSIS
VALUATION PROCESS
DISCLOSURES
SURVEYORS
UNITED KINGDOM
UNITED STATES
NEW ZEALAND