About the Editors |
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xi | |
Note on Contributors |
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xiii | |
Introduction |
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1 | (12) |
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2 | (1) |
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3 | (2) |
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The Book's Methodology and Starting Points |
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5 | (1) |
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Brief Description of the Current State of Affairs, Developments and Changes |
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5 | (2) |
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Analysis of Likely Consequences for Valuers, Valuation Theory and Practice |
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7 | (2) |
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Explanation for Proposing Alternative Protocol to Valuation and Decision-Making Processes in the Property Industry |
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9 | (4) |
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Part 1 Gap Analysis: Anomalies and Paradoxes, Questions, Dilemmas and Motivations |
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13 | (16) |
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13 | (2) |
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15 | (1) |
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15 | (4) |
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19 | (1) |
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Lack of Political Awareness in the Profession about Changes in Value Systems |
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20 | (1) |
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21 | (1) |
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`Wrong Coding' of the Market System |
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22 | (2) |
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Lack of Linkages to Any Belief System |
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24 | (2) |
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26 | (3) |
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Part 2 A Theory of Value in the Built Environment |
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29 | (22) |
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29 | (5) |
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30 | (1) |
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30 | (1) |
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Behavioural Characteristics |
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31 | (1) |
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31 | (2) |
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Sustainable Decision-Making |
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33 | (1) |
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2.1 Economic Value: Value, Price and Worth |
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34 | (9) |
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The Dominant Economic System |
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34 | (1) |
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35 | (1) |
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36 | (3) |
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39 | (1) |
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40 | (2) |
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42 | (1) |
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2.2 Sense and Categories of Value |
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43 | (8) |
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44 | (1) |
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45 | (6) |
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Part 3 Valuation Methodology |
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51 | (46) |
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51 | (2) |
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3.1 Aspects of Residential Value Analysis Methodology |
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53 | (10) |
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53 | (2) |
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55 | (3) |
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58 | (3) |
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61 | (1) |
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Summary and Concluding Discussion |
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62 | (1) |
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3.2 Aspects of Commercial Property Valuation and Regressed DCF |
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63 | (21) |
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64 | (1) |
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Discount Rate, Risk Premium Determination, and Regressed DCF |
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65 | (1) |
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An Application of Regressed Models A, B, and C to Bucharest Commercial Real-Estate Market |
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66 | (2) |
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68 | (5) |
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73 | (4) |
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77 | (4) |
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A Real-Estate Market Risk Premium Map |
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81 | (2) |
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Conclusions and Further Directions of Research |
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83 | (1) |
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3.3 The Significance of Land Attributes in Determining the Types of Land Use |
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84 | (13) |
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Malgorzata Reniger-Bilozor |
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84 | (1) |
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Method for Determining the Effect of Real-Estate Attributes on Land-Use Function with the Use of the Rough Set Theory |
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85 | (10) |
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95 | (2) |
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Part 4 Empirical Applications of Market Analysis |
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97 | (104) |
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97 | (5) |
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97 | (2) |
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Presentation of Individual Chapter Summaries |
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99 | (3) |
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4.1 Directions for Exploration of New Methods of Identifying and Determining Relationships and Dependencies on the Real-Estate Market |
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102 | (17) |
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Malgorzata Renigier-Bilozor |
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102 | (2) |
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The Real-Estate Sector -- Analysis and Challenges |
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104 | (1) |
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The Real-Estate Market System |
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105 | (2) |
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The Participants (Entities) of the Real-Estate Market |
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107 | (2) |
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Real Estate and Its Characteristics |
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109 | (2) |
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Research and Analytical Methods |
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111 | (8) |
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4.2 Economic Sustainability, Valuation Automata and Local Price Development |
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119 | (18) |
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119 | (2) |
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The Need for a Sustainable Housing Market |
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121 | (3) |
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The New Paradigm of Modelling Value -- Is AVM the Solution? |
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124 | (2) |
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Designing an Empirical Modelling Method |
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126 | (3) |
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129 | (1) |
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The Results of the Analysis |
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130 | (2) |
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The Principle of Smoothing the Value Using a SOM Approach |
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132 | (2) |
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Conclusions and Discussion |
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134 | (3) |
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4.3 Evaluation of Selected Real-Estate Markets -- A Case Study from Poland |
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137 | (64) |
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Malgorzata Renigier-Bilozor |
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137 | (1) |
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Perfect versus Imperfect Real-Estate Markets |
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138 | (58) |
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196 | (2) |
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Proposed Changes Regarding Current Valuation Practice and Standards |
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198 | (1) |
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198 | (3) |
Appendices |
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201 | (12) |
References |
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213 | (18) |
Index |
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231 | |