The accuracy of valuations: expectation and reality

The relationship between valuations and the subsequent sale price continues to be a matter of both theoretical and practical interest. This paper reports the analysis of over 700 property sales made during the 1974/90 period. Initial results imply an average under-valuation of 7% and a standard error of 18% across the sample. A number of techniques are applied to the data set using other variables such as the region, the type of property and the return from the market to explain the difference between the valuation and the subsequent sale price. The analysis reduces the unexplained error; the bias is fully accounted for and the standard error is reduced to 15.3%. This model finds that about 6% of valuations over-estimated the sale price by more than 20% and about 9% of the valuations under-estimated the sale prices by more than 20%. The results suggest that valuations are marginally more accurate than might be expected, both from consideration of theoretical considerations and from comparison with the equivalent valuation in equity markets.

Realism and reality formats

The chapter focuses on the relationships between 'Reality TV' and other ‘realist’ forms and genres of television. This issue is connected to larger debates about ‘televisuality’, and the understanding of the distinctiveness of the medium. Television processes and worries over reality in all of its genres, so that realism becomes a particularly ambiguous term. One meaning focuses on the actual scenes, places and people are represented rather than imagined. A second meaning refers to television’s representation of recognisable and often contemporary experience. Another meaning of realism refers to the development of new and different forms to give access to the real. Furthermore, the establishment of category distinctions in television, such as between factual and fictional forms, or between drama and documentary, could be seen as increasingly problematic in contemporary television. Reality TV can thought of as the trying-out of forms and modes of address in one genre or form that are adopted from apparently different genres and forms, thus creating connection and distinction simultaneously. This chapter addresses these distinctions and ambiguities within Reality TV, using examples including One Born Every Minute and The Only Way is Essex.

Getting Hitched: Weddings and Reality Television

From watching reality shows like A Wedding Story on TLC, I have learned that planning a wedding is stressful, kills friendships, and is generally not fun. In my opinion, I think it’s crazy. So why do people do this? What is the allure of this madness? In addition to the general insanity of weddings, the institute of marriage has been shown to be deeply flawed and quite unequal, but we are still tuning in to watch Engaged & Underage and Perfect Proposal. The fantasy shows that we watch and the glossy magazines we read seem to cover up the fact that the institution of marriage has problems. I want to find out why we are obsessed with getting married, even though many of us won’t actually carry through with the event or will end our marriages in divorce. Is it just the pageantry? The attention one receives as a bride and a new wife? To me, the huge attention paid to marriage in the media these days brings out some really interesting questions.

Trade and economic growth: a Latin American perspective on rhetoric and reality

Incluye Bibliografía

The role of agents in agricultural policies: intentions and reality

Includes bibliography

Democracy Concepts of the Fundamentalist Parties of Algeria and Tunisia – Claim and Reality

This article discusses democratic elements in early Islamic sources and in the programs of the Algerian FIS (Front Islamique du Salut) and ANNAHDA in Tunesia. According to historic writings, Islam includes the principles of democratic consensus, consultation, and freedom of opinion, and an understanding that the sources of Islamic jurisdiction are subject to interpretation, that the sharia can be changed, and that religious authorities’ power to issue instructions on worldly matters is limited. These are the type of expectations that fundamentalist parties arouse when they speak of an Islamic caliphate as a state system. Against this background, an examination of the political system proposed until 1992 by the Algerian FIS shows that this system would have resulted in a very restrictive form of Islam. An investigation of the political system of the Tunisian fundamentalist leader Rached al-Ghannouchi reveals that the system he proposes may be designated as an Islamic democracy, since it takes into account separation of powers and pluralism of political parties. The head of state would be subject to the law in the same manner as the people. However, it is no liberal democracy, as he categorically rejects secularism, intends to punish apostates, and is only willing to allow political parties that are based on the religion of Islam. His state would only be a state of those citizens who follow Islam, completely neglecting secularist groups. Social conflicts and unrest are thus predetermined.

Reliability and stability of lucid dream and nightmare frequency scales

Lucid dream and nightmare frequencies vary greatly between individuals and to assess these differences reliable instruments are needed. The present study aimed to examine the reliability of eight-point scales for measuring lucid dream and nightmare frequencies. The scales were administered twice (with a four-week interval) to 93 sport students. A re-test reliability for the lucid dream frequency was found r=.89 (p<.001) and for the nightmare frequency r=.75 (p<.001). Both eight-point scales appear to be reliable measures for assessing individual differences in lucid dream and nightmare frequencies.

The wagon wheel illusion in movies and reality.

Wheels turning in the movies or in other forms of stroboscopic presentation often appear to be rotating backward. Remarkably, a similar illusion is also seen in continuous light. The occurrence of this perception in the absence of intermittent illumination suggests that we normally see motion, as in movies, by processing a series of visual episodes.

Changes in the political elite, economy and society of Belarus: Appearances and reality. OSW Study 30/2008

In late 2006 and early 2007, relations between Russia and Belarus were hit by the most serious crisis in many years. In a setting of heightened tension, the Belarusian authorities decided to gradually modify their economic policy and thoroughly restructure the ruling class. The new situation created new, much more difficult challenges for the Belarusian opposition. The processes initiated by the authorities were not intended to bring about either the democratisation of public and political life or full economic liberalisation; their only purpose was to enable the regime to tackle new challenges and survive in the changing international context. Nevertheless, modernisation has been initiated in Belarus' authoritarian system of power, which until now was considered to be completely incapable of reform. This puts the country's main political and economic partners, including the European Union, in a new situation.

The EU ETS: Caught between an ideal and reality. CEPS Commentary, 8 march 2016

The EU ETS (emissions trading system) has passed its first decade of operation and has proven to be an inspiration for those who promote carbon pricing through carbon markets as a means to tackle climate change. During this period, Europe has learned important lessons from operating its own ETS and from observing the experiences of other jurisdictions with carbon markets.

An Utopian dream and how it may be realized,

Mode of access: Internet.