A descriptive analysis of valuers’ cognitive reasoning during a commercial property valuation task

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dc.contributor.author Amidu, Abdul-Rasheed en
dc.contributor.author Boyd, D en
dc.contributor.author Gobet, F en
dc.contributor.editor Remøy, H en
dc.contributor.editor de Jong, P en
dc.contributor.editor Heurkens, E en
dc.coverage.spatial Delft, Netherlands en
dc.date.accessioned 2017-11-22T20:03:44Z en
dc.date.issued 2017 en
dc.identifier.citation European Real Estate Society 24th Annual Conference, Delft, Netherlands, 28 Jun 2017 - 01 Jul 2017. Editors: Remøy H, de Jong P, Heurkens E . Book of Abstracts 24th Annual Conference of the European Real Estate Society. ERES & TU Delft, Delft, Netherlands. 93. 2017 en
dc.identifier.uri http://hdl.handle.net/2292/36502 en
dc.description.abstract There is widespread interest in how cognitive reasoning is used in expert professional practice. However, little is known about the cognitive reasoning in relation to a property valuer decision making. This study utilised the CTA to identify and describe, the cognitive reasoning of property valuers during a valuation task. Six subjects (comprising two expert valuers, two intermediate valuers and two novice valuers) undertook a valuation of a commercial property in a simulated context while thinking aloud. Verbal protocol reports were transcribed and coded using a deductive method. Content and event-sequence analysis yielded the varied knowledge states that valuers of different level of expertise prioritised and the cognitive processes used to operationalised these knowledge states. Further mapping of thought sequence indicated that expert and intermediate valuers had better and well-structured patterns of thought which demonstrate greater degrees of cohesiveness and interrelatedness between cognitive processes. Expert and intermediate valuers used cognitive processes centred on data interpretation and meta-reasoning activities initially to schedule valuation analysis or establish valuation strategies, and latterly to re-interpret and diagnose previously acquired information to update the outcome of their past valuations. Novice valuers’ processes of solving the valuation problem show fewer linkages between cognitive processes, suggesting underdeveloped cognitive structure and quick disengagement from task. The methodology used for recording, analysing and interpreting verbal protocol reports of valuers is shown to be capable of providing insights on cognitive processes, which is useful for research on practitioner expertise and its development. en
dc.description.uri http://2017.eres.tudelft.nl/ en
dc.publisher ERES & TU Delft en
dc.relation.ispartof European Real Estate Society 24th Annual Conference en
dc.relation.ispartofseries Book of Abstracts 24th Annual Conference of the European Real Estate Society en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.title A descriptive analysis of valuers’ cognitive reasoning during a commercial property valuation task en
dc.type Conference Item en
pubs.begin-page 93 en
dc.description.version AM - Accepted Manuscript en
pubs.author-url http://2017.eres.tudelft.nl/Book%20of%20Abstracts.pdf en
pubs.end-page 93 en
pubs.finish-date 2017-07-01 en
pubs.place-of-publication Delft, Netherlands en
pubs.start-date 2017-06-28 en
dc.rights.accessrights http://purl.org/eprint/accessRights/OpenAccess en
pubs.subtype Abstract en
pubs.elements-id 644753 en
pubs.org-id Business and Economics en
pubs.org-id Property en
pubs.record-created-at-source-date 2017-08-06 en

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