Develops a habit‐persistence model which is based on the assumption that experience conditions present behaviour and expectations. Notes that the model combines the adaptive expectations hypothesis with the partial adjustment process. Concludes that accurate forecasts for declining regions are produced but the results for growing regions are not significant.
Gardiner, C. and Henneberry, J. (1991), "Predicting Regional Office Rents Using Habit‐persistence Theories", Journal of Property Valuation and Investment, Vol. 9 No. 3, pp. 215-226. https://doi.org/10.1108/14635789110030921
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