A Taxonomic Field Investigation into Induced Bias in Residential Real Estate Appraisals

• Authors: Julian Diaz , J. Andrew Hansz

Title variants

LT

Gyvenamosios paskirties nekilnojamojo turto vertinimų taksonominis tyrimas siekiant nustatyti vertinimo paklaidas

Abstracts

EN

A taxonomic approach to field research was developed and utilized to support empirical and experimental research findings into the impact that incentives/pressures to over-value have on systematic valuation bias. An expected no-bias population was defined and valuation judgments from actual, real-world appraisals were statistically tested against it. The judgments of appraisers presented with no incentive/pressure to over-value were consistent with the no-bias population, while the judgments of appraisers presented with incentive/pressure to over-value were significantly incompatible with the defined no bias population.

LT

Taksonomijos metodas buvo išplėtotas ir pritaikytas taikomajam tyrimui siekiant patvirtinti empirinius ir eksperimentinius tyrimų rezultatus, kad paskata arba spaudimas pervertinti yra sisteminė paklaida. Buvo apibrėžta tikėtinoji nešališka imtis ir nustatytos statistinės realios vertės. Vertinimai, kuriuose nebuvo paskatos ar spaudimo pervertinti, buvo suderinti su imtimi be sisteminės paklaidos, o vertinimai su paskata ar spaudimu pervertinti buvo visiškai nesuderinti su apibrėžta imtimi be sisteminės paklaidos.

Keywords

EN

Real estate appraisal; Mortgage lending; Valuation judgment; Default risk; Client-agent impacts; Liquidity Crisis of 2008

• Publisher: Sciendo
• Journal: International Journal of Strategic Property Management
• Year: 2010
• Volume: 14
• Issue: 1
• Pages: 3-17

Contributors

author

Julian Diaz

• Department of Real Estate, J. Mack Robinson College of Business, Georgia State University, University Plaza, Atlanta, GA 30303-3083, USA

author

J. Andrew Hansz

• Gazarian Real Estate Center, Department of Finance and Business Law, Craig School of Business, California State University, Fresno, 5245 N. Backer Avenue PB7, Fresno, CA 93740-8001, USA

References

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Identifiers

DOI

10.3846/ijspm.2010.02