Abstract
The theory of real estate market value developed in the previous two chapters, it is argued, is superior to standard or conventional theory. The superiority of any theory over another can only be established if at least three conditions are met. First, both theories must be seeking to explain the same phenomena. This is to avoid the commensurability problem, in terms of which the rival theories would be talking at cross-purposes. Second, the superior theory must be able to explain all what the rival theory does. This is to ensure that the adoption of the new theory does not result in a loss of, or diminished, understanding. Finally, the superior theory should be able to explain a significant proportion, if not all, of what the rival theory cannot.
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Mooya, M.M. (2016). Applications to Problems of Theory and Practice. In: Real Estate Valuation Theory. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-49164-5_8
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DOI: https://doi.org/10.1007/978-3-662-49164-5_8
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