Abstracts for Vol.
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This paper points out some inconsistencies in appraisal practice stemming, in some cases, from inconsistencies in underlying theory, and in some cases from applications that are inconsistent with theory. The identification of inconsistencies in appraisal practice is not meant to be a wholesale attack on traditional appraisal approaches. The corollary is, of course, that their continued occurrences weaken appraisal and the appraisal function. They may lead to inaccurate value conclusions, disparities among appraisals, and lowered public confidence in appraisers. Most of the alleged inconsistencies cited in this paper can be easily corrected intellectually.