The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic. We see a correlation between the bad news, the frown, and the messenger. Appraisers […]
Diversity can be a goal in itself when diversity means breaking down barriers of groupthink and apathy. An expansive concept. Fairness, on the other hand is elusive, demanding definition. Fairness depends on the very point of view it attempts to define. “Fair” is in the eye of the beholder. EBV (Evidence Based Valuation)© (or EBA, […]
Bias and prejudice are always relevant topics. Recently these have received more attention. In asking the questions we present in the Analogue Blog, we find that three concepts/actions produce the greatest response, to create divisiveness and deepening anger in an argument. The three concepts of ignorant argument: 1) use the word “bias,” badly; 2) state […]
A valuation model may not be a model valuation. What happened with that sentence? It’s called “equivocation.” Something I learned about in my college English class. What I learned is that a word can be used for different meanings. Equivocation can be used to make language more colorful – to entice, to irritate, or to […]
Editor’s Note: This is Part 1 of a new series on Bias. Easy – Just don’t be biased. Don’t even think about it! Alternately, we can have the government regulate and require it! To know what ‘unbiasedness’ is, and how to achieve it, we have to be able to measure it. We cannot enforce anything, […]
Why not data science? Before we talk about anything, we need to know what ‘it’ is. What is data science? First, what is science? Science is “a systematic study, by observation or experiment; by an expert in scientific method and the field of study.” And what is data? Data is anything which can be measured, […]
Truth can be hard to swallow! I find their ‘truth’ not credible. Not believable. Why? Well, for one thing. One important thing. That belief conflicts with MY belief. Clearly, my beliefs are better than theirs! Anybody can see that. At least they should see that. How can they be so stupid? Brad Cable just sent […]
The transaction zone is a range within which a sale price might occur. Yet our definitions of value nearly all define a “most probable” price. In prior issues, we have discussed how vintage appraisal practice is vulnerable to accusations of bias. The “appraisal process” is most vulnerable at the beginning of the analysis, wherein “good […]
Bias against minorities has been “proven” against property value message measurers – at least once. It has also been “proven” that the undervaluation is as much as $500, on average. Something must be done! Let’s blame the appraisers! They keep on “determining” values too low! Does the flurry of blame-placing help resolve the problem? But […]
We continue our look at how current standards, and regulations hold back best practices. This part 5 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.5 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. This part is interesting […]
Biased Appraisals: A Cause or Symptom? In biology, there is a distinction between “proximate cause” and “ultimate cause.” In appraisology, the proximate (immediate) cause of valuation bias is the appraiser’s opinion. – For example, the appraiser reporting a “too high” number shows the ‘impact’ proximate bias. The ultimate (underlying) cause of this bias might be […]
Biased thinking, biased analysis — a part of the appraisal process? The Appraisal Institute is starting to address some bias-related critical issues — head on. Cindy Chance, the CEO of the AI, in her recent posts noted the role of human bias as a natural phenomena of the survival of the species. She cited the […]
Time adjustments have long been required as good appraisal practice. On the residential side, they are required in guidelines issued by FannieMae and FreddieMac (the GSEs). Unfortunately, the requirement for time adjustments (“market conditions”) has been ignored by the lenders selling to the GSEs (Government Sponsored Enterprises). Why? Editor’s Note: Read Part 1 of this […]
Bias is an important topic right now. So what are we really talking about? Is someone right? And others wrong? Again, so much divisiveness today is the result of misunderstanding, and the tendency to believe whatever supports your prior opinion. I have heard: Appraisers are biased (meaning racially biased). Appraisers are not biased, so stop […]
The word bias brings up personal feelings in almost everyone. Even anger. Even a desire to strike back. Grrrr. This makes sense. Bias, and concepts of bias are personal. It’s about me. Or about THEM! Those people! They should just see things my way . . . The more writing I do, the more I […]