Can science be unscientific? Why do we care?
In USPAP (Uniform Standards of Professional Appraisal Practice), the word science is not used. Not once! The word scientific is used only in Advisory Opinion 9, where it refers to “scientific aspects” of environmental contamination.
In The Appraisal of Real Estate, 14th ed. the word is used in two contexts: “science parks” as a property type, and “architecture … the science and art of designing and building structures.”
It appears appraisal may not be scientific. Must be art. Like painting a picture or singing or dancing.
Good news! Both sources agree that appraisal is “the act or process of developing an opinion of value” of an asset. An opinion. How do you get an opinion?
The first definition of opinion I get is: “a view or judgment formed about something, not necessarily based on fact or knowledge.” Darn. Not necessarily based on fact or knowledge . . . So, appraisal is not an example of science or scientific stuff. Not. [Another topic for another day . . . .]
What is science?
According to the Science council (https://sciencecouncil.org):
Science is the pursuit and application of knowledge and understanding of the natural and social world following a systematic methodology based on evidence.
Key words I see here are: systematic and evidence.
The word science comes from the Latin scienter, (knowingly). The word scienter is most commonly used in the law, which says a person must know or be aware of a wrongdoing.
Perhaps unscientific science is when a person knows his/her wrongdoing, but goes ahead and does it anyway. Or, alternately:
- not seek knowledge
- not be systematic
- not use evidence
But then it’s not science! So, forming an opinion without a systematic methodology based on evidence – is an opinion – not necessarily based on fact or knowledge.
So. Did we use the scientific method for the hypothesis: Can science be unscientific?
We looked at what it is and what it is not: It is a methodology. We care because appraisal is a core topic of this blog. We looked at the main knowledge resources: USPAP and The Appraisal of Real Estate. We looked at the sanctioned definitions.
Do we have liftoff?
We have a scientific axiom, a truth! Our conclusion must be: Science has to follow the scientific method. Therefore: “Science cannot be unscientific”! (Else it is notscience nonsense).
Note: The Community of Asset Analysts is working on methodology and standards which do emphasize “a systematic methodology based on evidence.” These foundations are in Valuemetrics.info curriculum.