In our second fallacy, we begin with a question: have you noticed how a new thinking context reveals weaknesses in the traditional appraisal process? The new thinking context is that of data science. Data science reflects dramatic evolving changes. The cause is simple, but twofold. First is the availability of market data. Second is the […]
Market value: easy to see, easy to reckon and easy to “support.” How could this possibly be a problem? We recognize that there are other definitions of value. Many. The question we ask: Is market value always value in the market? After the last economic crisis started, I looked at the standard definition used for […]
I am a smart and educated, award-winning appraiser. It is not possible for me to be irrational. Of course not. You can see that. I can see that. A high IQ and education won’t necessarily protect you from highly irrational behavior—and it may sometimes amplify your errors. David Robson, in an Excerpt from The Intelligence […]