Aloha Ladies and Gentlemen,

Our "Real Estate Price Indices and Appraisal Smoothing" session is scheduled for Friday, January 5th, 2001 at 2:30 p.m. in Balcony J at the Marriot Hotel as part of the AREUEA annual conference, January 5th - 7th to be held in New Orleans, Louisiana. Enclosed is a listing of presenters and discussants, a session schedule and the papers and/or abstracts submitted for presentation at the session. Please check to see that all of your personal information is correct as listed.

The format for the session is as follows:

Each author should send the final version of the paper to his or her discussant, as well as all other participants in the session no later than Friday, December 3, 2000. If you have any questions, please feel free to contact me. Mahalo (thank you).

Me ka `oiã`i`o,
(with sincerity)
Crocker H. Liu
Associate Professor of Finance

ALLIED SOCIAL SCIENCE ASSOCIATIONS, January 5-7, 2001, New Orleans, LA

Day: Friday Time: 2:30 p.m. Date: January 5, 2001
Hotel: Marriot   Room: Balcony J
Association American Real Estate and Urban Economics Association

Session Title: Real Estate Price Indices and Appraisal Smoothing (R13)

Presiding: Crocker Liu, New York University

Liang Peng and William Goetzmann, Yale University -- The Bias of RSR Estimator and the Accuracy of Some Alternatives: A Simulation

Dean H. Gatzlaff and Caroline L. Kreimer, Florida State University--Bias, Anchoring, and Appraised Values

Carl Gwin, Seow-Eng Ong, and Clark L. Maxam, Babson College, National University of Singapore, and Montana State University--Why do Real Estate Appraisals Nearly Always Equal Offer Price? A Theoretical Justification

Gregory M. Schwann and Bryan D. MacGregor, University of Auckland and University of Aberdeen--Temporal and Spatial Variations in Market Liquidity, Appraisal Smoothing and Price Discovery in Private and Public Real Estate Markets

 Discussants: John Clapp, University of Connecticut
Bradford Case, Board of Governors, Federal Reserve Board
Jarl Kallberg, New York University
Barrett Slade, Brigham Young University Presiding: Crocker Liu
Batting Order: Email all participants
Order
Presenter
Discussant
1
 Liang Peng and William Goetzmann
Yale School of Management
"The Bias of RSR Estimator and the Accuracy of Some Alternatives: A Simulation"
Yale School of Management, 
PO Box 208200 
New Haven, CT, 065208200, 
Phone: (203)432-5950
Fax: (203)432-3003
E-mail: liang.peng@yale.edu
E-mail: william.goetzmann@yale.edu		 John Clapp
University of Connecticut, 
368 Fairfield Road, U-41RE, 
Storrs, CT, 062692041
Phone: (860)486-5057
Fax: (860)486-0349
E-mail: JohnC@sba.uconn.edu
2
 Dean H. Gatzlaff and Caroline L. Kreimer
Florida State University
"Bias, Anchoring, and Appraised Values"
2939 North Umberland Drive 
Tallahassee, FL, 323086811
Phone:(904)644-5710
Fax: (904)644-4077
E-mail: dgatzla@cob.fsu.edu,
kreimer@cob.fsu.edu		 Bradford Case
Board of Governors of the 
Federal Reserve System
Mail Stop 153
Washington, DC 20551
Phone:  (202)452-2442
Fax:(202)452-5295
E-mail: bradford.case@frb.gov

 
3
 Carl Gwin, Seow-Eng Ong, and Clark L. Maxam
Babson College, National University of Singapore, and Montana State University
"Why Do Real Estate Appraisals Nearly Always Equal Offer Price? A Theoretical Justification" 
Montana State University
College of Business
446 Reid Hall
Bozeman, MT, 597170000
Phone: (406)994-4692
Fax: (406)994-6206
E-mail: gwin@babson.edu
E-mail: seong@nus.edu.sg
E-mail: clmaxam@montana.edu		 Jarl Kallberg
New York University
Stern School of Business
Management Education Center
44 West 4th Street, Suite 9-190
NY, NY 10012-1126
Phone: (212) 998-0339
Fax: (212) 995-4233
Email: jkallber@stern.nyu.edu
4
 Gregory Schwann and Bryan MacGregor
University of Auckland and University of Aberdeen
"Temporal and Spatial Variations in Market Liquidity, Appraisal Smoothing and Price Discovery in Private and Public Real Estate Markets"
The University of Auckland, 
Department of Property
Private Bag 92019, 
Auckland, New Zealand
Ph: 64 9 3737 999 x8676 
Fax: 64 9 3737 410
E-mail: g.schwann@auckland.ac.nz
E-mail: b.d.macgregor@abdn.ac.uk		 Barrett A. Slade
Marriott School
Brigham Young University
685 TNRB
Provo, UT 84602
Phone: (801)378-3504
Fax: (801)378-5984
E-mail: bslade@byu.edu