Stigma Assessment: A Multi-Criteria Decision-Making Approach
Author/s: Nelson Chan
Date Published: 1/01/2002
Published in: Volume 8 - 2002 Issue 1 (pages 29 - 47)
Abstract
Stigma of contaminated land is caused by risk perception and has an uncertain nature. It is proposed to assess stigma impacts using a multi-criteria decision-making (MCDM) approach. In this regard, a model is constructed using the Analytical Hierarchy Process (AHP) technique. The case study shows that the MCDM approach has provided a logical and structured framework to process relevant criteria and it is feasible to apply this method to assess the required stigma adjustment factor.Download Full Article
Download the Full Article PDF![]() |
Keywords
Analytic Hierarchy Process - Contaminated Land - Margin of Error - Multi-Criteria Decision-Making - Risk Perception - StigmaReferences
- Australian Institute of Valuers and Land Economists (AIVLE), 1994, Contaminated Land Practice Standard.
- Australian Property Institute (API), 2001, Guide Note 15, Professional Practice 2002.
- Ball, J. & Srinivasan, V.C., 1994, Using the Analytic Hierarchy Process in House selection, Journal of Real Estate Finance and Economics, 9, pp. 69 85.
- Bender, ?., Din, ?., Favarger, P., Hoesli, M. & Laakso, J., 1997, An Analysis of Perceptions Concerning the Environmental Quality of Housing in Geneva, Urban Studies, 34(3), pp. 503 513.
- Bender, ?., Din, ?., Hoesli, M. & Laakso, J., 1999, Environmental quality perceptions of urban commercial real estate, Journal of Property Investment & Finance, 17(3), pp. 280 296.
- Bond, S., 2001, The Use Of Conjoint Analysis To Asses The Impact Of Environmental Stigma, Pacific Rim Property Research Journal, 7(3), pp. 182 194.
- Chalmers, J. & Roehr, S., 1993, Issues in the Valuation of Contaminated Property, The Appraisal Journal, LXI (1), pp. 28-41.
- Chan, N., Jefferies, R. & Simons, R., 1998, Government Regulation Of Contaminated Land - A Tale Of Three Cities, Environmental And Planning Law Journal, Vol. 15, No. 5, 321 337.
- Chan, N., 2000, How Australian Appraisers Assess Contaminated Land, The Appraisal Journal, LXVIII(4), pp. 432 440.
- Crosby, N., Lavers, A. & Murdoch, J., 1998, Property Valuation Variation And The Margin Of Error, Paper presented at the 4 Pacific Rim Real Estate Society Conference, Perth, 19 21 January.
- Diaz, J., 1997, An Investigation into the Impact of Previous Expert Value Estimates on Appraisal Judgment, Journal of Real Estate Research, 13(1), pp. 57 66.
- Gallimore, P. & Wolverton, M., 1998, Price-Knowledge-Induced Bias: a Cross-Cultural comparison, Journal of Property Valuation And Investment, 15(3), pp. 261 273.
- Henig, M. & Buchanan, J., 1996, Decision Making by Multiple Criteria: A Concept of Solution, http://www.mngt.waikato.ac.nz/depts/mnss/john/procon.htm, 29 February 2000.
- Ho, D., 1999, Preferences on Office Quality Attributes: A Sydney CBD Study, Australian Land Economics Review, 5(2), pp. 36 42.
- Info Harvest Inc., 1996, Criterium DecisionPlus Trialware Users Guide and Tutorial.
- Information and Discussion Forum on Priority Setting in Agricultural Research (ISNAR), 1998, Measurement Methods - The Analytic Hierarchy Process, http://www.cgiar.org/ISNAR/Fora/Priority/MeAnalit.htm, 17 June 1998.
- Lucey, ?., 1988, Quantitative Techniques - An Instructional Manual, ELBS.
- Mundy, ?., 1992a, Stigma and Value, The Appraisal Journal, LX (1), pp. 7 13.
- Mundy, ?., 1992b, The Impact of Hazardous Materials on Property Value, The Appraisal Journal, LX (2), pp.155 162.
- Pan, S., 1996, A Study of Multi-aim Decision Making for Real Estate Projects, research paper presented at the 2 Pacific Rim Real Estate Society Annual Conference, Sanctuary Cove, Gold Coast, Queensland, 21 24 January.
- Patchin, P., 1991, Contaminated Properties - Stigma Revisited, The Appraisal Journal, LIX (2), pp. 167 172.
- Patchin, P., 1994, Contaminated Properties and the Sales Comparison Approach, The Appraisal Journal, LXII (3), pp. 402 409.
- Roddewig, R., 2000, Adjusting Environmental Case Study Comparables by Using an Environmental Risk Scoring System, The Appraisal Journal, LXVIII(4), pp. 371 374.
- Saaty, ?., 1980, The Analytic Hierarchy Process, New York: McGraw Hill.
- Saaty, T. & Forman, E., 1992, The Hierarchon: A Dictionary of Hierarchies, The Analytic Hierarchy Process Series, Vol. V, RWS Publications.
- Saaty, ?., 1994, Fundamentals of Decision Making and Priority Theory with the Analytic Hierarchy Process, The Analytic Hierarchy Process Series, Vol. VI, RWS Publications.
- Saaty, ?., 1995, Decision Making for Leaders The Analytic Hierarchy Process for Decision in a Complex World, The Analytic Hierarchy Process Series, Vol. II, RWS Publications.
- Saaty, ?., 1996, The Analytic Hierarchy Process: Planning, Priority Setting, Resource Allocation, The Analytic Hierarchy Process Series, Vol. I, RWS Publications.
- Saaty, T. & Kearns, K., 1985, Analytic Planning The Organisation of System, The Analytic Hierarchy Process Series, Vol. IV, RWS Publications.
- Saaty, T. & Vargas, L., 1991, The Logic of Priorities Applications of The Analytic Hierarchy Process in Business, Energy, Health & Transportation, The Analytic Hierarchy Process Series, Vol. III, RWS Publications.
- Saaty, ?. & Vargas, L., 1994, Decision Making in Economic, Political, Social, and Technical Environments with the Analytic Hierarchy Process, The Analytic Hierarchy Process Series, Vol. VII, RWS Publications.
- Sanders, M., 1996, Post-Repair Diminution in Value from Geotechnical Problems, The Appraisal Journal, LXIV (1), pp. 59 66.
- Syms, P., 1997, Contaminated Land, Blackwell Science.
- Wilson, ?., 1992, Environmentally Impaired Valuation: A Team Approach To a Balance Sheet Presentation, Technical Report: Measuring the Effects of Hazardous Materials Contamination on Real Estate Values: Techniques and Applications, Appraisal Institute, pp. 23 42.