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Bowen, P A and Edwards, P J (1985) Cost modelling and price forecasting: practice and theory in perspective. Construction Management and Economics, 3(03), 199-215.
- Type: Journal Article
- Keywords: artificial intelligence; cost modelling; expert system; price forecasting; simulation
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/01446198500000015
Various academics have pointed to the gap between research and practice in the field of building economics and suggest that the way forward may lie in terms of a paradigm shift in that a fundamentally different approach to cost modelling and price forecasting will be necessary. It can be argued that a change in thinking is required rather than an improvement in current practice. Expert systems, a form of artificial intelligence, hold exciting possibilities in this regard.