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Decision theory and real estate investment

Decision theory and real estate investment Explains that the focus of decision theory is on the mathematical models. These may be probability based; loss functions or other forms of statistical representations of judgements. Yet, much of decision theory does not lie entirely within any one discipline: it draws on psychology, economics, mathematics, statistics, social sciences and many other areas of study. Investigates investors’ perceptions and attitudes towards real estate. Highlights the important difference between theoretical exposure levels and pragmatic business considerations. Suggests a prescriptive model to explore judgements, beliefs and preferences of decision makers and to inform decision making. Examines the concept of risk and its place in developing a prescriptive model. Maintains that a decision must be judged on factors other than the risk of a single outcome. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Valuation and Investment Emerald Publishing

Decision theory and real estate investment

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Publisher
Emerald Publishing
Copyright
Copyright © 1997 MCB UP Ltd. All rights reserved.
ISSN
0960-2712
DOI
10.1108/14635789710184943
Publisher site
See Article on Publisher Site

Abstract

Explains that the focus of decision theory is on the mathematical models. These may be probability based; loss functions or other forms of statistical representations of judgements. Yet, much of decision theory does not lie entirely within any one discipline: it draws on psychology, economics, mathematics, statistics, social sciences and many other areas of study. Investigates investors’ perceptions and attitudes towards real estate. Highlights the important difference between theoretical exposure levels and pragmatic business considerations. Suggests a prescriptive model to explore judgements, beliefs and preferences of decision makers and to inform decision making. Examines the concept of risk and its place in developing a prescriptive model. Maintains that a decision must be judged on factors other than the risk of a single outcome.

Journal

Journal of Property Valuation and InvestmentEmerald Publishing

Published: Aug 1, 1997

Keywords: Assets; Decision making; Real estate; Risk; Uncertainty

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