am 29. September 2011
This - nonetheless generally *interesting* - work of Sayce/Smith/Cooper/Venmore-Rowland (Real Estate Appraisal, From Value to Worth, (Oxford et al: Blackwell Publishing, 2006)) can lead to several questions, e.g. from a (seriously-)scientific, and logical point of view, some of these questions to be raised in the following words:
Are subjective "probabilities" serious and (really) scientific 'probabilities'?
Unfortunately, the authors do speak (within this generally interesting work) also of so called 'subjective probabilities' (sic!, cf. Sayce/Smith/Cooper/Venmore-Rowland: l.c., 153).
The authors wish to inform us in their work that these 'probabilities' were
"not [sic!] based on observed or recorded data but may [sic!] rely on past experience or expert judgement" (Sayce/Smith/Cooper/Venmore-Rowland, l.c., 153).
Can something (seriously) be known "with 100% [sic!] certainty" (Sayce et al, 156)?
Furthermore, Sayce/Smith/Cooper/Venmore-Rowland, l.c., 156 are to inform their readers that
"Worth, in contrast to price or value, is not a spot figure unless the future cash flows are known with 100% [sic!] certainty. [...]" (Sayce/Smith/Cooper/Venmore-Rowland, l.c., 156)
Thus, the question whether (so called) 'certainty' can (seriously, scientifally, and logically) be expressed in terms of (a certain amount of) 'percent' ...? (sic!)
(ex arg: either something is certain; or it is not certain; certainty being a concept/word/term not seriously and scientifically and logically being accessible to being explained in (various/several) 'degrees' of "it") word, esp. from a serious, logical, and scientifically convincing point of view)
'Degree(s)' of accuracy - a (serious, logical, and scientific) formulation/wording?!
Furthermore, Sayce/Smith/Cooper/Venmore-Rowland, l.c., 158 are to inform their (patient) readers what they are to think/feel concerning such words as e.g. (so called) 'uncertainty' (cf. Sayce et al, l.c., 158):
(So called) 'uncertainty' - so they wish to explain to their readers - "is where [sic!] an expected outcome is either unquantifiable or not able to be estimated with any degree [sic!] of accuracy, and where the expected range of outcomes can only be estimated within a very wide range", thus Sayce/Smith/Cooper/Venmore-Rowland, l.c., 158.
Speaking e.g. with some scientists, as well as e.g. some non-scientists, one is (also) to hear e.g. one question concerning the words "degree [sic!] of accuracy":
can (so called) 'accuracy' - seriously, and scientifically - be expressed in (several, various) 'degrees' (!?!) of it ...? (!) (...)