Concerning Heading 5 (administration), there should not be any major problems given the agreement reached on the principle of anticipation
of 2003 expenditure thanks to under-implemented appropriations in 2002 (frontloading) on the basis of the Supplementary and Amending Budget (SAB 6/2002) presented by the Commission.
An example of a reasoning process in appraisal with an adequate principle is income analysis, in which the principle of anticipation (i.
The foundations of appraisal include three other principles: the principle of anticipation, the principle of change, and the principle of conformity.
The principle of change, the principle of supply and demand, the principle of substitution, the principle of balance, and the principle of externalities also premise aspects of the income approach, according to The Appraisal of Real Estate,(21) but none states or implies anything as fundamental about the pricing logic of the income approach as the principle of anticipation does.
Likewise, individuals do not always: (a) set price exactly equal to the purchase prices of properties with equal utility, as in the principle of substitution, and (b) individuals do not always set price exactly equal to the present worth of anticipated future benefits, as in the principle of anticipation.