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In the first part, the author sums up general features of his model of holographic associative memory, consisting of a short‐time component and the associative layer, bearer of permanent records, realized as changes of synaptic weights according to a suitable algorithm. In living systems, some means are necessary to safeguard the memory from overflooding with irrelevant information. It is shown that the selection of biologically important patterns and events may be based upon the system of pre‐determined unconditioned reflexes. One possible way of introducing this principle is by allowing the unconditioned stimulus to activate the mechanism of synaptic changes so that the preceding event, still kept in the short‐time memory, may be recorded permanently, while other patterns and events occurring in the inactivated state are remembered only after numerous repetitions.

In a static memory a crude representation of a field of stimuli can be based on the evaluation of the total occurrence of single stimuli, their pairs, triples, etc., respectively. This leads to the concept of combinatory spaces of various orders and their sequences, with generalized pseudometrics or metrics. This concept may be of relevance in the fields of general systems and artificial intelligence.

As in the author's earlier papers, the model consists of a diffuse neuronal net, where simultaneous stimuli cause correlations between the columns in the matrix of synaptic weights resulting in a sort of statistical mapping of the outer environment. However, the present version is endowed with two new features. Firstly, instead of the deterministic relation between the input signals and the output signal of neurons, only a probabilistic dependence is assumed which leads to the occurrence of spontaneous activity, even in the absence of any input signals. Secondly, a simple feedback is provided which adds up the signals from the associative layer—properly delayed—to the actual input. In the new model, the momentary state of memory changes continually, the resulting sequence of signals being chaotic in an “inexperienced” system. In a system with a fair amount of associations derived from the observation of the environment and interaction with it the spontaneous sequences are built up predominantly from materials supplied by the experience, and may be called “free associations”. These associations depend on the characteristics of the biological noise. Confronted with the question of problem solving procedures, the flow of associations can be visualized as a sort of random experimentation on the level of imaginative activity.

Presents research on human memory modelling. Gives a description of the memory process (as a whole) in its functional details by means of adding, processing and synthesizing psychological data using the creation of a model base. Compares the created psychological equivalent to the adequate mathematical‐algorithmic multi‐apparatus descriptions. Presents the programme‐developed human memory model as a precondition for microelectronic realizations (robot technique, computers and other bionic‐cybernetical systems).

The problem of goal generation (teleogenesis) is addressed by the development of a system framework based upon the property of hemispheric lateralization of functions. Micro‐information structure is examined to establish the role of replication in molecular, cellular and functional interactions. From the framework presented, conditions are derived under which output functions can be related to the evolution of the dichotic system and the inverse mappings between the system components. The holographic communication form is examined both in relation to the invertability requirement of the Fourier series and the source of the periodicity for an incident signal.

This paper aims to stimulate debate amongst valuers and users of valuations over what action is needed to ensure the provision of the valuation services that the modern economy requires.

This paper looks at developments and trends affecting the nature of and the need for valuation services around the world in the short to medium term.

There is a bright future for those valuers who understand the dynamics in their market and anticipate or always respond to change. The consequence of failing to respond is inevitable decline in the long term. More automated valuation processes and products have an important role to play in the future provision of valuation services. The valuation community must rise to the challenge of developing a professional class of valuers in emerging economies. Governments should insist on good quality valuation in their jurisdictions as they have a major role to play in consumer protection. The leading professional organisations in the world must ensure that collectively and individually they attract the best possible candidates into it.

Whatever the drivers of change in the valuation marketplace, it is fundamental for the survival of professional valuation services that the public interest is protected. This paper considers the challenges and opportunities in a range of areas brought about by these changes – a vision for valuation.