Research bias in judgement bias studies

Authors Pim Klamer , Cok Bakker , Vincent Gruis
Published in Journal of Property Research
Publication date 2017
Research groups Normative Professionalisation
Type Article

Summary

Valuation judgement bias has been a research topic for several years due to its proclaimed effect on valuation accuracy. However, little is known on the emphasis of literature on judgement bias, with regard to, for instance, research methodologies, research context and robustness of research evidence. A synthesis of available research will establish consistency in the current knowledge base on valuer judgement, identify future research opportunities and support decision-making policy by educational and regulatory stakeholders how to cope with judgement bias. This article therefore, provides a systematic review of empirical research on real estate valuer judgement over the last 30 years. Based on a number of inclusion and exclusion criteria, we have systematically analysed 32 relevant papers on valuation judgement bias. Although we find some consistency in evidence, we also find the underlying research to be biased; the methodology adopted is dominated by a quantitative approach; research context is skewed by timing and origination; and research evidence seems fragmented and needs replication. In order to obtain a deeper understanding of valuation judgement processes and thus extend the current knowledge base, we advocate more use of qualitative research methods and scholars to adopt an interpretative paradigm when studying judgement behaviour.

researchcomponents.publicationcontent.personslist.publicationauthors

  • Pim Klamer | Researcher | Research group Normative Professionalisation
    Pim Klamer
    • Researcher
    • Research groups: Normative Professionalisation
  • Cok Bakker lector NP
    Cok Bakker
    • Professor
    • Research groups: Normative Professionalisation

Language English
Published in Journal of Property Research
ISBN/ISSN URN:ISSN:1466-4453
Key words valuation judgement, real estate, behavioural research

Pim Klamer

Pim Klamer | Researcher | Research group Normative Professionalisation

Pim Klamer

  • Researcher
  • Research group: Normative Professionalisation