... study that applies Monte Carlo simulation in a spreadsheet environment using expert-judgment elicitation to define input probability distributions. Findings Although local practitioners acknowledge uncertainty qualitatively, feasibility studies in Brazil remain dominated by fixed-point cash-flow...

... Emerald Publishing Limited Licensed re-use rights only Monte Carlo simulation Financial model Risk assessment Urban development Land value capture Scenario analysis Rio de Janeiro Brazil Could MCS help provide a more effective way of assessing the valorization generated by real...

... and valuers in developing countries. The purpose of this paper is to investigate how development appraisal is conducted in Brazil, compared to the UK, focusing primarily on the methods employed by small- and medium-sized real estate practices and their appraisers to appraise the viability of commercial real...