Purpose – The purpose of this exploratory paper is to examine the efficient market theories and to argue that a new paradigm or an expanded paradigm is needed for the valuation of real estate. This may actually not be a new paradigm but it may be necessary to go back in time to make the...

Purpose – Current economic conditions have identified a complication if not conflict in the application of valuation analysis assumptions with the free fall in asset prices observed since 2007. Discrepancies in debt obligations (from prior periods) with underlying collateral value have been...

While Stochastic Dominance has been employed in various forms as early as 1932, it has only been since 1969--1970 that the notion has been developed and extensively employed in the area of economics, finance, agriculture, statistics, marketing and operations research. In this survey, the first-,...