Experiments reported in this paper clarify and extend results of previous research into the impact of reference points on valuation judgment. The value judgments of expert commercial appraisers from the USA who were not familiar with the geographical setting of the subject property were...

The traditional mechanisms of private covenants and public restrictions may not meet the needs of residential property owners who want to preserve a certain neighborhood style. Privately initiated and publicly enforced conservation district regulations can preserve desirable neighborhood...

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...

An understanding of how thirty real estate journals are perceived for promotion and tenure and for professional applicability was sought by surveying members of the two most important real estate academic organizations. Several subgroup comparisons were made revealing some common perceptions but...

An understanding of how thirty real estate journals are perceived for promotion and tenure and for professional applicability was sought by surveying members of the two most important real estate academic organizations. Several subgroup comparisons were made revealing some common perceptions but...

We study the redistributive effects of expected inflation in a microfounded monetary model with heterogeneous discount factors and collateral constraints. In equilibrium, this heterogeneity leads to borrowing and lending. Model assumptions also guarantee a tractable distribution of money and...