TY - JOUR
AU1 - Diaz, Julian
AU2 - Wolverton, Marvin L.
AB - Appraisal smoothing, the reduced variability of real estate return series, has been attributed to appraisers being influenced by their own previous value estimates. This hypothesis is tested experimentally. Expert apppraisers from Atlanta were asked to value a hypothetical apartment project in Phoenix. Eight months later, these experts were asked to update their original appraisals given certain market and property changes. At this time, an independent group of Atlanta experts was asked to appraise the property based on the updated conditions. Results support the hypothesis of insufficient adjustment from previous value judgments.
TI - A Longitudinal Examination of the Appraisal Smoothing Hypothesis
JF - Real Estate Economics
DO - 10.1111/1540-6229.00749
DA - 1998-06-01
UR - https://www.deepdyve.com/lp/wiley/a-longitudinal-examination-of-the-appraisal-smoothing-hypothesis-Z1qVS8GvuA
VL - 26
IS - 2
DP - DeepDyve