Knowledge valorisation is the transfer of knowledge from one party to another for economic benefit. The concept of valorisation is based on the underlying metaphor of KNOWLEDGE AS A THING. It is the same metaphor that makes it possible to talk about the value of knowledge. If knowledge is like a ‘thing’, then that ‘ thing’ must have a specific value. Value can be defined as the degree of usefulness or desirability of something, especially in comparison with other things, and is by definition subjective. Value is in the eye of the beholder. Any valuation method therefore needs to take into account this subjective nature by deliberately choosing the appropriate ‘standard of value’ (value to whom?) and ‘premise of value’ (value under what circumstances?). There are three ways to determine the value of something of which financial valuation is the most used. In turn financial valuation can be done using a cost approach, a market approach or an income approach. In most cases the income approach is the most appropriate. However, this approach requires a number of assumptions to be made; most of which are impossible to validate. The formulas that are used in the process can be intimidating to non-experts with the danger of disguising the inherent subjective and speculative nature of any valuation of knowledge as a ‘thing’.
Valuation judgement bias has been a research topic for several years due to its proclaimed effect on valuation accuracy. However, little is known on the emphasis of literature on judgement bias, with regard to, for instance, research methodologies, research context and robustness of research evidence. A synthesis of available research will establish consistency in the current knowledge base on valuer judgement, identify future research opportunities and support decision-making policy by educational and regulatory stakeholders how to cope with judgement bias. This article therefore, provides a systematic review of empirical research on real estate valuer judgement over the last 30 years. Based on a number of inclusion and exclusion criteria, we have systematically analysed 32 relevant papers on valuation judgement bias. Although we find some consistency in evidence, we also find the underlying research to be biased; the methodology adopted is dominated by a quantitative approach; research context is skewed by timing and origination; and research evidence seems fragmented and needs replication. In order to obtain a deeper understanding of valuation judgement processes and thus extend the current knowledge base, we advocate more use of qualitative research methods and scholars to adopt an interpretative paradigm when studying judgement behaviour.
Purpose – Information verification is an important factor in commercial valuation practice.Valuers use their professional autonomy to decide on the level of verification required, thereby creating an opportunity for client-related judgement bias in valuation. The purpose of this paper is to assess the manifestation of client attachment risks in information verification. Design/methodology/approach – A case-based questionnaire was used to retrieve data from 290 commercial valuation professionals in the Netherlands, providing a 15 per cent response rate of the Dutch commercial valuation population. Descriptive and inferential statistics have been used to test research hypotheses involving relations between information verification and professional features that may indicate client attachment such as an executive job level and brokerage experience. Findings – The results reveal that valuers acting at partner level within their organisation obtain lower scores on information verification compared to lower-ranked valuers. Also, brokerage experience correlates negatively to information verification of valuation professionals. Both findings have statistical significance. Research limitations/implications – The results reflect valuers’ reasoning behaviour rather than actual behaviour. Replication of findings through experimental design will contribute to research validity. Practical implications – Maintaining close client contact in a competitive environment is important for business continuity yet may foster client attachment.The associated downside risks in valuation practice call for higher awareness of (subconscious) client influence and the development of attitudinal scepticism in valuer training programmes. Originality/value – This paper is one of the few that explore possible sources of valuer judgement bias by relating client-friendly valuer features to a key area of valuation i.e. information verification.
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Energy transition is key to achieving a sustainable future. In this transition, an often neglected pillar is raising awareness and educating youth on the benefits, complexities, and urgency of renewable energy supply and energy efficiency. The Master Energy for Society, and particularly the course “Society in Transition”, aims at providing a first overview on the urgency and complexities of the energy transition. However, educating on the energy transition brings challenges: it is a complex topic to understand for students, especially when they have diverse backgrounds. In the last years we have seen a growing interest in the use of gamification approaches in higher institutions. While most practices have been related to digital gaming approaches, there is a new trend: escape rooms. The intended output and proposed innovation is therefore the development and application of an escape room on energy transition to increase knowledge and raise motivation among our students by addressing both hard and soft skills in an innovative and original way. This project is interdisciplinary, multi-disciplinary and transdisciplinary due to the complexity of the topic; it consists of three different stages, including evaluation, and requires the involvement of students and colleagues from the master program. We are confident that this proposed innovation can lead to an improvement, based on relevant literature and previous experiences in other institutions, and has the potential to be successfully implemented in other higher education institutions in The Netherlands.
Due to the existing pressure for a more rational use of the water, many public managers and industries have to re-think/adapt their processes towards a more circular approach. Such pressure is even more critical in the Rio Doce region, Minas Gerais, due to the large environmental accident occurred in 2015. Cenibra (pulp mill) is an example of such industries due to the fact that it is situated in the river basin and that it has a water demanding process. The current proposal is meant as an academic and engineering study to propose possible solutions to decrease the total water consumption of the mill and, thus, decrease the total stress on the Rio Doce basin. The work will be divided in three working packages, namely: (i) evaluation (modelling) of the mill process and water balance (ii) application and operation of a pilot scale wastewater treatment plant (iii) analysis of the impacts caused by the improvement of the process. The second work package will also be conducted (in parallel) with a lab scale setup in The Netherlands to allow fast adjustments and broaden evaluation of the setup/process performance. The actions will focus on reducing the mill total water consumption in 20%.
In the last decade, the automotive industry has seen significant advancements in technology (Advanced Driver Assistance Systems (ADAS) and autonomous vehicles) that presents the opportunity to improve traffic safety, efficiency, and comfort. However, the lack of drivers’ knowledge (such as risks, benefits, capabilities, limitations, and components) and confusion (i.e., multiple systems that have similar but not identical functions with different names) concerning the vehicle technology still prevails and thus, limiting the safety potential. The usual sources (such as the owner’s manual, instructions from a sales representative, online forums, and post-purchase training) do not provide adequate and sustainable knowledge to drivers concerning ADAS. Additionally, existing driving training and examinations focus mainly on unassisted driving and are practically unchanged for 30 years. Therefore, where and how drivers should obtain the necessary skills and knowledge for safely and effectively using ADAS? The proposed KIEM project AMIGO aims to create a training framework for learner drivers by combining classroom, online/virtual, and on-the-road training modules for imparting adequate knowledge and skills (such as risk assessment, handling in safety-critical and take-over transitions, and self-evaluation). AMIGO will also develop an assessment procedure to evaluate the impact of ADAS training on drivers’ skills and knowledge by defining key performance indicators (KPIs) using in-vehicle data, eye-tracking data, and subjective measures. For practical reasons, AMIGO will focus on either lane-keeping assistance (LKA) or adaptive cruise control (ACC) for framework development and testing, depending on the system availability. The insights obtained from this project will serve as a foundation for a subsequent research project, which will expand the AMIGO framework to other ADAS systems (e.g., mandatory ADAS systems in new cars from 2020 onwards) and specific driver target groups, such as the elderly and novice.
