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A cognitive model for selecting business appraisal methods
Abstract
This dissertation examines the appraisal process of a closely-held company. The primary objective is to develop a cognitive model that identifies the appraiser's adaptive evaluation procedures and strategies. The focus of the work is on understanding the expert's cognitive processes and not on building a better problem solver. Such understanding will contribute to improving the appraisal task and to facilitate the training process with the findings of the expertise. At the knowledge level, two analyses were performed: task analysis and protocol analysis. In task analysis, which is based on business appraisal manuals and texts, a cognitive model for the appraisal process was proposed. In the model, an appraisal problem space for the selection of relevant appraisal method(s), which is sequential in nature, was identified. Changes in knowledge state were shown as the appraisal process (operator) was applied in the appraisal problem space. Some structured knowledge was found while applying different appraisal methods. After verbal protocol analysis, an improved version of cognitive model was proposed. The hypothesizing behavior of the appraiser allowed the researcher to explain the jumping or skipping behavior while the appraiser processed information on the subject company under appraisal. The appraiser uses structured knowledge, which must be acquired through training, to guide his searching for further information. Along with the finding of structured knowledge, the study also found co-existence of the data-driven reasoning and hypothesis-driven reasoning behavior of the appraiser. The structured knowledge controls both the data-driven and hypothesis-driven reasoning behavior. Consequently, it was justified that task analysis is the critical process of this study. Explaining behavior and planning behavior of the appraiser suggest that the cognitive model should have explanation capability and some graphical representation of the appraisal process. The strategic thinking operator shows the appraiser's capabilities for conflict resolution. Recognizing and resolving discrepancy behavior can enrich the model, especially in the case the original model ends up with an increase. Observation of the semantic reasoning behavior also provides some implication, at the symbol level, for representing the problem in a symbolic manner, which may facilitate communication between the model and the user.
Subject Area
Accounting|Cognitive therapy
Recommended Citation
Paek, Sung-Nyul, "A cognitive model for selecting business appraisal methods" (1997). ETD collection for University of Nebraska-Lincoln. AAI9736944.
https://digitalcommons.unl.edu/dissertations/AAI9736944