Do valuers have a greater tendency to adjust a previous valuation upwards or downwards?
Havard, T.
Do valuers have a greater tendency to adjust a previous valuation upwards or downwards? - 1999 - Journal of Property Investment and Finance 17(4) 1999, 365-373(5) .
Valuers are often aware of previous valuation figures or have knowledge of transaction prices. This most frequently occurs in loan security valuations and investment asset valuations. Earlier research has suggested that valuers may be biased by this knowledge. Examines experimentally whether valuers have a greater tendency to adjust a valuation upwards when they have knowledge of a previous low valuation than they are to adjust a valuation downwards when they have knowledge of a previous high valuation. Preliminary findings suggest this is the case.
Valuation
ASSET VALUATION
ACADEMIC RESEARCH
Do valuers have a greater tendency to adjust a previous valuation upwards or downwards? - 1999 - Journal of Property Investment and Finance 17(4) 1999, 365-373(5) .
Valuers are often aware of previous valuation figures or have knowledge of transaction prices. This most frequently occurs in loan security valuations and investment asset valuations. Earlier research has suggested that valuers may be biased by this knowledge. Examines experimentally whether valuers have a greater tendency to adjust a valuation upwards when they have knowledge of a previous low valuation than they are to adjust a valuation downwards when they have knowledge of a previous high valuation. Preliminary findings suggest this is the case.
Valuation
ASSET VALUATION
ACADEMIC RESEARCH