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This study investigated appraisal procedure. Appraisal is a product of litigation. Appraisal is a necessary process in the litigation of construction cost where contradictory claims among people exist. Therefore, appraiser's inability to pinpoint the crux of the litigation leads to the flawed appraisal. The goal of this study is to find out the problem resulting from appraisal of the construction cost and to deduce an effective method that could solve the problem. This qualitative study designated the "committee of development of the hands on experience of construction appraisal" in the office of court administration as the target group. The discussion starts with the problems in construction appraisal, which are deduced from analyzing the target group. Problems are as follows: inappropriate selection of appraisal, highly expensive appraisal fee, unfaithful conclusion of appraisal, deficiency in appraisal statement, and delay of appraisal. After realizing the problems in appraisal process, I wanted to know whether it would be plausible to apply the principalagent theory to solve this problem. For this, I empiric ally analyzed the expert group and lawyer group. As a result, both groups were mutually cognizant of the necessity for the systematic improvement in the appraisal process. This laid the foundation for applying principalagent theory. The reason why I searched for a new framework called princi palagent theory is because the abovementioned problems were not solved for a long time. Based on this theory, I tried to analyze the origin of the fundamental problem. Through this study, I figured out that typical agency problems such as "adverse selection," "evasion of danger," and "moral hazard" occur between the court and appraiser. I also confirmed that the biggest cause to this problem is the "asymmetry of information" and "uncertainty" in the relationship of agents. In conclusion, the best solution to solve the fundamental problem of appraisal process is to eradicate the "asymmetry of information" and "uncertainty." For this, "specialization of appraisal" and "standardization of appraisal" were suggested. In more detail, method for "standardization of appraisal statement" and "standardization of assessment method for appraisal fee" were proposed. In the long term, educational system for the specialization of appraiser was suggested. I claimed that to specialize appraiser, focus should be placed on advanced education for the appraiser and on educational program which provides basic information about appraisal for the beginners. Scientific method of appraisal and respo nsibility of appraiser were suggested for future study. |