Real Estate Valuation Theory: A Critical Appraisal by Manya M. MooyaReal Estate Valuation Theory: A Critical Appraisal by Manya M. Mooya

Real Estate Valuation Theory: A Critical Appraisal

byManya M. Mooya

Hardcover | March 29, 2016

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This monograph critically reviews and updates real estate valuation theory, which is based on neoclassical economics, in light of developments in heterodox economic theory. Building on a comprehensive historical account of the evolution of value theory, the book uses new institutional economics theory and critical realism as lenses through which problems in standard valuation theory and practice are expatiated, and as the foundation for an alternative theory. The new theory is employed to explain major problems in real estate valuation that are beyond the capability of the standard theory, such as price bubbles in real estate markets, anchoring bias, client influence and valuation under uncertain market conditions.

Manya M. Mooya holds a PhD in Real Estate from the University of Pretoria, an MPhil in Land Economy from the University of Cambridge and a BSc in Land Economy from the Copperbelt University. He is currently Senior Lecturer in Property Studies in the Department of Construction Economics and Management at the University of Cape Town. He ...
Title:Real Estate Valuation Theory: A Critical AppraisalFormat:HardcoverDimensions:185 pagesPublished:March 29, 2016Publisher:Springer-Verlag/Sci-Tech/TradeLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:366249163X

ISBN - 13:9783662491638

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Table of Contents

Preface.- 1 Standard Theory of Real Estate Market Value: Concepts and Problems.- 2 Aristotle to Marshall: The Evolution of Economic Value Theory.- 3 Traditional Valuation Methods.- 4 Automated Valuation Models.- 5 Real Estate Markets and Neoclassical Economic Theory - A Heterodox Critique.- 6 An Alternative Theory of Market Value: Ontological Foundation.- 7 An Alternative Theory: Market Value as Convention and Market Value as Emergence.- 8 Applications to Problems of Theory and Practice.- Postscript.