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This paper aims to trace the evolution of the theory and practice of valuation of real estate interests. Using a historical perspective, especially in the context of recent events, it identifies an emerging unification of thought and application that has important implications for the future.

The paper identifies and synthesizes the contributory literature to the philosophical underpinnings of value theory and practice as applied to real estate. From pre‐history to the present, it traces classical concepts and the way these are related to the recent innovations in economic and financial valuation theory.

Recent contributions to value theory hold the promise of unifying and transforming the practice of real estate appraisal to one that is state‐of‐the‐art in terms of its contemporary relevance. However, numerous issues remain as obstacles, including insufficient recognition of the “real” nature (as opposed to “capital” nature) of real estate; a lag in educational standards to bring the profession up to date; an excessive reliance on models and data rather than judgment and common sense; and “silo‐ization” of specialties. Promising directions for future research are identified.

The task of valuation of interests in real property has taken on an increasingly important role, as the market for real estate has grown and become more liquid and complete. This paper provides a perspective on where it has come from and where it must go in the future in terms necessary changes in theory and practice to remain viable and relevant.

All seventeen had graciously agreed to my proposal to gather for a small conference to seek consensus. A generous grant from the Pierian Press Foundation would cover all of our expenses for a long weekend at a resort hotel; the only condition of the grant was that we offer our results to Reference Services Review for first publication. Over the past five years each of the seventeen had in turn accepted my challenge to answer the following question:

This study aims to identify the political alignment and political activity of the 11 Presidents of Britain’s most important scientific organisation, the Royal Society of London, in its early years 1662–1703, to determine whether or not the institution was politically aligned.

There is almost no information addressing the political alignment of the Royal Society or its Presidents available in the institution’s archives, or in the writings of historians specialising in its administration. Even reliable biographical sources, such as the Oxford Dictionary of National Biography provide very limited information. However, as 10 Presidents were elected Member of Parliament (MP), The History of Parliament: British Political, Social and Local History provides a wealth of accurate, in-depth data, revealing the alignment of both.

All Presidents held senior government offices, the first was a Royalist aristocrat; of the remaining 10, 8 were Royalist or Tory MPs, 2 of whom were falsely imprisoned by the House of Commons, 2 were Whig MPs, while 4 were elevated to the Lords. The institution was Royalist aligned 1662–1680, Tory aligned 1680–1695 and Whig aligned 1695–1703, which reflects changes in Parliament and State.

This study establishes that the early Royal Society was not an apolitical institution and that the political alignment of Presidents and institution continued in later eras. Furthermore, it demonstrates how the election or appointment of an organisation’s most senior officer can be used to signal its political alignment with government and other organisations to serve various ends.

Gender balance has been a declared goal in business and society for decades as gender diversity leads to more equality and better decision-making, enhances financial performance of organizations, and fosters creativity and innovation. Although there is a steady upward trend in the number of women actively participating in the workplace, there is still a dearth of women in top leadership positions. This motivates a closer look at the reasons why this happens. Stigmatization – a social process of disapproval based on stereotypes or particular distinguishing characteristics of individuals (e.g. gender) – has been recognized as one of the primary explanations for the barriers to career advancement of women. This chapter aims to address workplace inequality by analysing different sources of stigma women face in the workplace. Previous research has mostly focused on visible sources of stigma, such as gender or race/ethnicity. We propose to go beyond visible sources of stigma and expand the focus to other physical (e.g. physical appearance, age, childbearing age), emotional (e.g. mental health) and societal (e.g. flexibility) sources of stigma. We are especially interested in the consequences of stigma for women in the workplace. Stigmatization of women is a multi-level process, so this chapter focuses on the antecedents (sources of stigma) and outcomes (consequences of stigma) for women at the individual level, organizational level and the societal level. The proposed chapter will make contributions to the areas of management, diversity and gender studies.

‘Prospective teachers are stigmatized and told they have a social responsibility to do this or not to do that,’ says Mrs Annie Trotter, President of the Students' Union at Whitelands College of Education, and unofficial leader of the student teachers' campaign against ‘out‐dated’ college regulations. This, she believes explains why colleges of education, more than other colleges and universities, still have repressive regulations and disciplinary procedures.

To determine the age at which influence peaks for men and women at work, then use empirical data to develop procedures predicting complex combining effects of diffuse status characteristics.

A survey experiment with a nationally representative sample is used to measure the age at which the status value of men and women at work reaches a maximum. Research results are then incorporated into equations adapted from current status characteristics theory (SCT) procedures to model the combined effects of age, gender, race/ethnicity, education, income, occupation, and beauty.

Analyses reveal that the status value of men and women reaches a maximum in middle age, and that women reach a maximum status value at work at an earlier age than men.

This approach maintains core assumptions of SCT and uses ongoing research results to calibrate a model predicting complex combining effects of diffuse status characteristics. Limitations include the need to develop additional empirical constants to make predictions in new research settings.

Predictions from the model can be used in hiring situations to adjust for interviewers’ nonconscious expectations related to status characteristics of job applicants.

The disadvantage for women at work that increases through mid-career helps to explain the continuing underrepresentation of women in senior leadership positions. Awareness of the impact of socially valued characteristics like age and gender can help individuals respond more effectively to challenging social situations.

Extend the current SCT model to make predictions in contexts where people are being evaluated such as elections, hiring, and promotions.

In discussing the subject of bread, or indeed any subject, one is of course confronted by the initial difficulty of definition. Nothing is harder than to define any concrete thing, no matter how common and well‐known it may be. This is not surprising when we remember that no one has ever succeeded in defining a definition. Perhaps the best attempt to do so is Pascal's, in the “Port Royal Logic,” and it is easy to drive a coach and six through the rules which he lays down for definitions to conform to. The only things that can be strictly defined are mathematical abstractions, such as a circle, which are formed on natural objects by pruning away their multitudinous properties till only two or three which can be expressed by a short and indisputable definition are left.