Dissertations / Theses on the topic 'Hedonic pricing'
To see the other types of publications on this topic, follow the link: Hedonic pricing.
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 dissertations / theses for your research on the topic 'Hedonic pricing.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse dissertations / theses on a wide variety of disciplines and organise your bibliography correctly.
1
Patterson, Katherine Liza. "Wealth accounts for agricultural land : a hedonic pricing approach." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1997. http://www.collectionscanada.ca/obj/s4/f2/dsk2/tape16/PQDD_0007/MQ29762.pdf.
Full text
2
Mueller, Valerie Ann. "Valuing climate amenities in Brazil using a hedonic pricing framework." College Park, Md. : University of Maryland, 2005. http://hdl.handle.net/1903/2952.
Full textAbstract:
Thesis (Ph. D.) -- University of Maryland, College Park, 2005.Thesis research directed by: Agricultural and Resource Economics. Title from t.p. of PDF. Includes bibliographical references. Published by UMI Dissertation Services, Ann Arbor, Mich. Also available in paper.
3
Lipscomb, Clifford Allen. "Resolving the aggregation problem that plagues the hedonic pricing method." Diss., Available online, Georgia Institute of Technology, 2004:, 2003. http://etd.gatech.edu/theses/available/etd-04082004-180317/unrestricted/lipscomb%5fclifford%5fa%5f200312%5fphd.pdf.
Full text
4
Hager, Shayla Desha. "Determining price differences among different classes of wool from the U.S. and Australia." Thesis, Texas A&M University, 2003. http://hdl.handle.net/1969.1/110.
Full textAbstract:
The U.S. wool industry has long received lower prices for comparable wool types than those of Australia. In order to better understand such price differences, economic evaluations of both the U.S. and Australian wool markets were conducted. This research focused on two primary objectives. The first objective was to determine what price differences existed between the Australian and U.S. wool markets and measure that difference. The second objective was to calculate price differences attributable to wool characteristics, as well as those resulting from regional, seasonal, and yearly differences. In order to accomplish the objectives, the study was set up into three different hedonic pricing models: U.S., Australian, and combined. In the U.S. model, there were significant price differences in season, year, region, level of preparation, and wool description. In addition, average fiber diameter (AFD) had a negative nonlinear relationship with price and lot weight had a positive linear relationship with price. The Australian model was notably different than the U.S. model in that there were only three variables. The yearly variable follows the same general pattern as the U.S. data but with a smaller span of difference. The seasonal price differences were distinctly different than the U.S. because of the difference in seasonal patterns. In addition, the AFD had a similar negative nonlinear relationship with price. The final model combines both the U.S. data and the Australian data. The combined model had only three variables: season, year, AFD and country. As in the case of the previous two models, AFD had the same negative nonlinear relationship and similar price elasticity. Overall, there was a -30.5 percent discount for U.S. wool when compared to Australian wool. This can be attributed to several different factors. One of which is that the Australian wool industry has a more extensive marketing scheme when compared to the U.S wool market as a whole. However, this is only a beginning to future research that needs to be conducted. Continuing this study for future years, having more descriptive categories, and additional countries would further add explanation to wool prices.
5
Lak, Hawta, and Tamerlan Shikhalizade. "What impacts the formation of prices of apartments in Vasteras? : With a hedonic pricing model approach." Thesis, Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-49253.
Full textAbstract:
Determining and predicting the exact prices of apartments is a complex task. It requires the data on the factors that directly influence the price of the apartment, such as the number of rooms or location of the apartment, and the information about the factors that indirectly affect the price, such as the availability of public transport and public goods near the apartment. One of the limitations of our work is the lack of data on the availability of indirect factors, and so in this paper we purely focus, and determine to what extent direct factors influence the formation of the final price. We find the influence of each of these factors with the help of the hedonic pricing, and the method of linear regression. After the first regression we identified which variable is least significant for our work and removed it. In our case it happened to be the variable Floor that identifies the level of the apartment. Further, we also test other types of regressions, such as semi – log regression, double – log regression, and quadratic regression. This is done to identify which of the regressions demonstrates the clearest picture on the effects of the variables. In other words, in which of the regressions the variables have the most significant parameter values. We found the Regression Five, a quadratic regression, to be an equation with the most significant parameter values. We also identified that the variables Rooms (indicating the number of rooms in the apartments) and Share (indicating the corporate share in the building) to have the biggest impact on the formation of the final price. Thus, we conclude that the variables Rooms and Share have the most significant influence on the price, whereas a quadratic regression (in this paper Regression Five) presents an equation with the most significant values of parameters and the highest degree of explanation.
6
Kefela, Mehari Semere. "Determinants of Hotel Room Rates in Stockholm : A Hedonic Pricing Approach." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-23512.
Full textAbstract:
Using Lancaster’s characteristics approach to consumer theory the study investigates the impact of a variety of characteristics on the rates charged for hotel rooms in Stockholm. In particular, it examines how a number of these characteristics explain variations in room rates between weekdays and weekends. Data for 105 observations (weekday sample) and 110 observations (weekend sample) were extracted from 49 hotels in and around the Swedish capital of Stockholm from the Internet-based hotel booking site hotels.com. Based on semilog regression analysis three models for the whole sample, weekday sample and weekend sample were estimated. The results show that the provision of breakfast, distance from the city center, availability of minibar in a room, provision of free cancellation option, average room size, number of guest rooms (hotel size) and hotel star rating have significant effects on both weekday and weekend room rates. By contrast, the presence of bathroom and the provision of free parking space turned out to be insignificant in both models; whereas the provision of a 24-hour room service and association with hotel chain appear to be significant only in the weekday model. The impact of the star variable is also found to be more pronounced during the weekdays than weekends. These results are expected to shed light on which hotel characteristics consumers have to pay extra, and enhance hotel managers’ strategic pricing. The study also highlights the critical role of a proper definition and measurement of the hotel star rating in hedonic pricing.Many hedonic studies have regressed the number of stars, which are ordinal measures of quality that indicate the relative ranking of hotels, in their cardinal sense. As a result, they have failed to measure the impact of each rating independently. To solve this recurrent problem, the study attempts to provide another method of quantifying the star variable whereby one can accurately measure the star rating and capture the impact of each rating independently by creating “one less dummy variable than there are alternatives”. It is hoped that this will inspire further research and analysis.
7
Lake, Iain Richard. "Using a Geographical Information System (GIS) to implement the Hedonic pricing." Thesis, University of East Anglia, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.266754.
Full textAbstract:
Hedonic pricing (HP) is an economic technique for placing monetary values upon costs or benefits which do not have market prices. This thesis applies the HP method to the valuation of road transport and visual disamenity impacts, as reflected in variations within property prices. In order to carry out such a study one has to determine not only the magnitude of the environmental impact at each property, but also structural, neighbourhood and accessibility variables characterising each property. These have to be controlled for before the portion of the property price attributable to the environmental variable can be observed. In the past all these variables have been calculated using labour intensive techniques such as house to house surveys. These led to high study costs and limited the scope of such research. This thesis circumvents these problems through the use of large scale digital data and a Geographical Information System (GIS). This study demonstrates how a GIS can significantly improve a HP study through the calculation of a wider range of more sophisticated variables. However the calculation of such a large number of variables causes difficulties when these data are modelled. This study illustrates how these problems can be overcome through a combination of Principal Components Analysis and a Multiple Regression. The final model had a higher degree of explanation and a lower incidence of collinearity than in previous research vindicating the use of GIS. Prices and values for a range of road transport and visual disamenity impacts are presented. The main limitations upon the research was the time and effort required to obtain data and to convert them into a GIS format. This took half of the research time. Various developments that might improve this situation in the future are presented, along with ways in which the study could be extended.
8
Pehrsson, Kirsten M. "Software development cost estimating models: an application of the hedonic pricing approach." Thesis, Virginia Tech, 1987. http://hdl.handle.net/10919/45910.
Full textAbstract:
Software development cost estimating models were analyzed using an application of the hedonic pricing approach. Several recently proposed software cost estimating tools were surveyed for the purpose of revealing their roots in the hedonic pricing approach. The analysis includes discussion of the hedonic pricing approach, the logic of several software cost models, and analysis of the models' hedonic pricing traits.
Hedonic prices are the implicit prices of attributes of I differentiated products as revealed in the market through attribute levels associated with market-clearing prices. Several aspects of the software costing models fit within the hedonic pricing approach. Many of the models base cost estimates on the varying quantities of software product attributes (e.g., complexity of program, schedule requirements, etc.). Similarities and differences of traits among cost models were noted.
Master of Arts
9
Mo, Zheng. "An Empirical Evaluation of OLS Hedonic Pricing Regression on Singapore Private Housing Market." Thesis, KTH, Byggvetenskap, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-150401.
Full textAbstract:
The empirical paper studies the relationship between property value and hedonic attributes. To indentify the determinant characteristics the influent the private real estate price, their degrees of significance and help with the valuation procedure, 8870 private residential property transactions with caveats lodged across country are selected from Urban Redevelopment Authority of Singapore. 40 models are tested and RMSE, R-Square, Adjusted R-Square, F-Value tests are performed to discover the overall fitness of the models. Breusch-Pagan F-Test is performed to test the existence of heteroskedasticity and VIF test to check multicolinearity. Z score is performed to check the spatial autocorrelation. Three founding are discovered. Firstly, size, age, floor level, population density level, latitude and construction status are core attributes resulting from the regression. Secondly, new district zones classified by functions are detected instead of 28 administrative districts. Thirdly, government policies and local customs (Feng Shui) are proven to be determinant variables as well. Two suggestions are given to regulate the market in the end of this article.
10
Hoffman, Eliza Ann. "Value of Bundled Recreation Amenities in Southern Arizona Communities: A Hedonic Pricing Approach." BYU ScholarsArchive, 2012. https://scholarsarchive.byu.edu/etd/3360.
Full textAbstract:
The primary purpose of this study was to examine the contribution of family-recreation amenities to home valuation in Southern Arizona communities. Although recreation amenities have become a frequent addition to housing developments, little research exists regarding the value these amenities contribute to home valuation. The sample consisted of 600 homes in master-planned communities and 600 homes in comparable traditional subdivisions. Using the hedonic pricing method, this study examined whether the inclusion of recreation amenities provides additional value to homes after structural and locational characteristics were controlled for. Blocked multiple regression analyses were used to determine the contribution of both individual and bundled recreation amenities to home valuation. The results of this study revealed a positive significant relationship between the bundle of community parks, neighborhood parks, and trails located within master-planned communities and home valuation, accounting for 17.45% of home value in this sample. In addition, the inclusion of family-recreation programming was found to contribute 6.82% of home value within master-planned communities. The findings suggest the inclusion of recreation amenities may be an appropriate way to revitalize communities, to increase the tax base for new housing developments, and to attract residents during a time of economic recession.
11
Lindahl, Elyse. "The Outdoor Apparel Industry:Measuring the Premium for Sustainability with a Hedonic Pricing Model." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/scripps_theses/1322.
Full textAbstract:
Evaluating the existing practices of sustainability within the outdoor apparel industry, this research questions the relationship that certain sustainability aspects have with the price of goods in this specific market. Through a hedonic pricing model, this research provides an estimate of the value placed on certain aspects surrounding environmental and social sustainability. In a growing industry, the application of sustainable practices throughout the supply chain has the potential to influence customer purchasing patterns and pricing models for outdoor apparel brands. This research found the type of material used to have a statistically significant impact on the price of an item; no statistical significance was found in the level of brand sustainability.
12
Schwenneker, Brent. "A study of hybrid seed corn pricing." Thesis, Kansas State University, 2008. http://hdl.handle.net/2097/19694.
Full textAbstract:
Master of AgribusinessDepartment of Agricultural Economics
John Crespi
Hybrid seed corn pricing has increased significantly over the past six or seven years and continues to be a topic of conversation amongst farmers. This issue is also an area of concern for Monsanto. The hybrid corn pricing team at Monsanto is concerned that they price current products at a point to maximize profits while continuing to grow market share. The key is to price at a point that captures all the value of the differentiated products Monsanto offers. The objective for this study is to estimate a demand model for the hybrid seed corn industry. The demand model will allow us to look at many different aspects of the hybrid seed corn industry and also evaluate the own-price and cross-price elasticities. The own-price elasticity is especially important because it will be used to determine if current pricing is revenue or profit-maximizing. A hedonic pricing model was also estimated in this study to complement the demand model. It is important for Monsanto to understand what attributes or traits are significant in pricing and demand.
13
Freeborn, Jennifer. "Hedonic price analysis of the internet recreational equine market." Thesis, Manhattan, Kan. : Kansas State University, 2009. http://hdl.handle.net/2097/1129.
Full text
14
Burdine, Kenneth H. "FACTORS AFFECTING FEEDER CATTLE PRICES IN THE SOUTHEAST." UKnowledge, 2011. http://uknowledge.uky.edu/agecon_etds/2.
Full textAbstract:
Traditional factors known to affect feeder cattle prices, such as corn prices, have been questioned recently given the volatile nature of agricultural markets and some recent research findings. This work utilizes two very current and unique datasets to examine feeder cattle pricing relationships from Kentucky internet auctions and Certified Preconditioned for Health (CPH) sales. In addition to examining traditional pricing factors, factors that affect feeder cattle basis were also examined. Basis questions are of great interest in the southeast as transportation costs to major cattle feeding areas have been impacted by rising fuel prices and increased market volatility. Finally, price premiums were examined for cattle selling as age and source verified and natural.
Results suggested that traditional factors were still found to influence feeder cattle prices, with some evidence that the magnitude of these effects may be smaller. Basis factors were found to be relevant; specifically fuel price was found to have a negative effect on basis in internet sales. This finding was also consistent with weaker basis in areas further away from the Midwest. Finally, premiums for age and source verification were moderate, roughly $11 per head for age and source verified calves, $17 per head for natural calves, and about $32 per head for cattle with both attributes.
15
Stump, Katherine Alice. "Impact of Oyster Aquaculture in Virginia on Waterfront Property Values." Thesis, Virginia Tech, 2019. http://hdl.handle.net/10919/91893.
Full textAbstract:
Virginia is the east coast's largest producer of eastern oysters and produces more than any other state. As the industry grows to meet increasing demand, more conflicts have arisen with other resource users, especially waterfront property owners. Some landowners claim oysters impact recreational and aesthetic uses of their property, therefore lowering the value of the home. Using a hedonic property value model, this study examines the effect of oyster aquaculture on waterfront properties by using 2,245 property sales from 16 counties and independent cities and information on aquaculture activity from 2012-2016. The results suggest that oyster aquaculture has a positive effect on waterfront property values, but a negative effect when using cage equipment.Master of Science
Virginia is the east coast’s largest producer of eastern oysters and produces more than any other state. As the industry grows to meet increasing demand, more conflicts have arisen with other resource users, especially waterfront property owners. Some landowners claim oysters impact recreational and aesthetic uses of their property, therefore lowering the value of the home. This study examines the effect of oyster aquaculture on waterfront properties. The results suggest that oyster aquaculture has a positive effect on waterfront property values, but a negative effect when using cage equipment.
16
Fogarty, James. "Wine investment, pricing and substitutes." University of Western Australia. School of Economics and Commerce, 2006. http://theses.library.uwa.edu.au/adt-WU2006.0048.
Full textAbstract:
[Truncated abstract] This thesis consists of six chapters, and the main research contributions are contained in chapters two through five inclusive. The topics addressed in each chapter are distinct, but related, and the specific contributions to knowledge made by the different chapters are related to: (i) understanding more fully the nature of the demand for alcohol; (ii) explaining the relationship between reputation characteristics and consumers’ willingness to pay for wine; (iii) estimating the rate of return to Australian wine; and (iv) using financial analysis to reveal the risk diversification benefits available by including wine in an investment portfolio. The details of each contribution are briefly outlined below. Chapter 2 discusses the nature of the demand for alcohol. The demand for alcoholic beverages is an area much studied, and there are numerous studies estimating the own-price elasticity of alcoholic beverages. A review of relevant published studies indicates reported: beer own-price elasticity estimates range from -.02 to -3.00, with a mean estimate value of -.46, and standard deviation of -.41 (n = 139); wine own-price elasticity estimates range from -.05 to -3.00, with a mean estimate value of -.72, and standard deviation of .53 (n = 140); and spirits own-price elasticity estimates range from -.01 to -2.18, with a mean estimate value of -.74, and standard deviation of .47 (n = 136). Chapter 2 contributes to understanding the demand for alcohol, not by adding yet another set of elasticity estimates to an already substantial literature, but by providing a framework through which all known own-price elasticity estimates can be understood. Specifically, a meta-regression framework is employed to study previously published own-price elasticity estimates. This framework allows the effect of model design attributes to be isolated, and the underlying trend in consumer responses to price changes to be identified.
17
Thomson, Christopher A. (Christopher Allan) 1963. "Pricing apartment attributes : a hedonic analysis of the Dallas/Fort Worth multifamily rental housing market." Thesis, Massachusetts Institute of Technology, 1999. http://hdl.handle.net/1721.1/70326.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1999.Includes bibliographical references (leaf 62).
A hedonic regression analysis is performed using data collected from 1007 multifamily properties within the Dallas/Fort Worth, Texas metropolitan area. A Model is estimated that is capable of a) predicting rent given certain inputs regarding the attributes of a property and b) pricing and determining the relative impact on rent of certain attributes and groups of attributes. The analysis produced significant results with important implications for valuation, design, development and acquisition/development of multifamily projects. The Model can be utilized by multifamily developers and investors to assist in optimizing configuration and investment decisions in the Dallas/Fort Worth market. The Model may also provide conceptual insight into tenant preferences applicable to other similar multifamily markets.
by Christopher A. Thomson.
S.M.
18
Stephens, Daren. "Hedonic bull pricing models: estimating the value of traits of bulls sold following performance testing." Thesis, Kansas State University, 2015. http://hdl.handle.net/2097/20575.
Full textAbstract:
Master of AgribusinessDepartment of Agricultural Economics
Ted Schroeder
Selection of a herd sire has always been of paramount importance given the initial financial investment and their contribution and effect on the genetic make-up of a beef herd. Data was collected from the nation’s longest consecutively run bull test conducted at the University Farm of Oklahoma Panhandle State University (OPSU). The Bull Test and Bull Sale data utilized were collected from 2008-2013. Performance data was collected over a 112 day test period with data collection occurring at 28 day intervals. The top seventy bulls from each year’s test were selected based upon a performance index of ½ ADG and ½ weight per day of age (WDA), and a semen quality and motility score of excellent and sold at auction. Angus bulls were the focus of the study as they represented the vast majority of individuals sold. Three hedonic pricing models were created to try to determine what attributes buyers at the OPSU bull test sale were placing emphasis on. The initial hedonic model contained production data that included BW, ADG, WDA, Julian age, final test weight ultrasound data, and a dummy variable for sale year. The second model utilized all production data and added genetic variables in the form of production EPDs (Calving Ease Direct (CED), BW, Weaning Weight and Yearling Weight) and maternal EPDs (Calving Ease Maternal, Maternal Milk). The third model included the variables from the first and second models with the inclusion of carcass EPDs (Marbling, Ribeye Area (REA) and FAT). Year was significant in all three models however there was less of an effect on price as more variables were included. In model one, the production facts that were of significance were: ADG (P<0.01), BW (P<0.01) and final test weight (P<0.01). In the second model, ADG, BW and final test weight retained their significance at the P<0.01 level. The only production EPD that was significant (P<0.05) was CED. In the third model, years, ADG and BW were still significant (P<0.01). Final test weight (P=0.70) and CED (P = 0.132) had substantial changes. The carcass EPD ribeye area had a P value of 0.057. Producers who are placing bulls on test can utilize the given information to assist with their selection. It cannot go unsaid that while single trait selection can be very detrimental; ADG was significant across all models. The study indicates that performance and growth are of utmost importance to buyers, followed by birth weight consideration.
19
Roach, Jeffrey Joseph. "Theoretical and practical implications of a hedonic pricing model empirical observations from wholesale automobile auctions /." Connect to this title online, 2008. http://etd.lib.clemson.edu/documents/1239896493/.
Full text
20
Bull, Adrian Osborn, and abull@usc edu au. "The effects of location and other attributes on the price of products which are place-sensitive in demand." Griffith University. School of Economics, 1998. http://www4.gu.edu.au:8080/adt-root/public/adt-QGU20030102.085840.
Full textAbstract:
There is a particular class of products where people must visit the point of production in order to be consumers, and these products are normally lifestyle, tourism or leisure services. Examples include environmentally-based leisure facilities, housing, and tourist accommodation. Frequently the assertion is made that location makes one product 'superior' to another, in terms of both its production and consumption. This study enquires into the asserted significance of location in product differentiation, with special reference to hospitality and tourism products. The study is particularly concerned with commercially tradeable products offered to a consumer market by a number of competitive firms, rather than being concerned with one-off markets for assets for exclusive use, such as houses. By the use of characteristics theory, this study shows that the role of geographic location within a product such as hotel accommodation is that of a product-differentiating characteristic, or set of characteristics. However, the location of such a product is an example of a fixed, or unalterable, characteristic, once a supplier has entered a market. With most product-differentiating characteristics, a supplier can attain an optimal business position by enhancing the differentiation for as long as customers' willingness to pay 'the extra' (marginal revenue) exceeds or equals the cost (marginal cost) of product enhancement. However, a supplier cannot easily do this for a fixed characteristic. So what is the value of a particular location to a supplier of this type of product? This study develops a model to identify the specific elements of a location that are important to consumers, and then to estimate their values. It is argued that the values of each specific element (locational characteristics) should contribute in a predictable way to the overall price of each product in the market place. It is also shown in this study that individual suppliers who cannot identify, or who incorrectly set, prices based on locational characteristics face a measurable variation in demand from the mean in the market place. The model and methodology are tested empirically in the market for international-standard hotel accommodation on the Gold Coast, Queensland. It is shown that this constitutes a single, coherent market as a tourist destination, where a limited number of producers compete with differentiated products. Those product characteristics that are important to the market are identified, and it is shown that elements of location and other characteristics can be valued accurately across the market. The relationship between suppliers' 'overpricing' or 'underpricing' of their product characteristics and variations in demand from the market average is explored. This study therefore has implications for pricing strategy, as well as for land valuation and planning. The study can be seen as contributing primarily to the economics literature, in the area of industrial economics, but also to the marketing, and hospitality and tourism literature.
21
Bull, Adrian Osborn. "The effects of location and other attributes on the price of products which are place-sensitive in demand." Thesis, Griffith University, 1998. http://hdl.handle.net/10072/367767.
Full textAbstract:
There is a particular class of products where people must visit the point of production in order to be consumers, and these products are normally lifestyle, tourism or leisure services. Examples include environmentally-based leisure facilities, housing, and tourist accommodation. Frequently the assertion is made that location makes one product 'superior' to another, in terms of both its production and consumption. This study enquires into the asserted significance of location in product differentiation, with special reference to hospitality and tourism products. The study is particularly concerned with commercially tradeable products offered to a consumer market by a number of competitive firms, rather than being concerned with one-off markets for assets for exclusive use, such as houses.
By the use of characteristics theory, this study shows that the role of geographic location within a product such as hotel accommodation is that of a product-differentiating characteristic, or set of characteristics. However, the location of such a product is an example of a fixed, or unalterable, characteristic, once a supplier has entered a market. With most product-differentiating characteristics, a supplier can attain an optimal business position by enhancing the differentiation for as long as customers' willingness to pay 'the extra' (marginal revenue) exceeds or equals the cost (marginal cost) of product enhancement. However, a supplier cannot easily do this for a fixed characteristic.
So what is the value of a particular location to a supplier of this type of product? This study develops a model to identify the specific elements of a location that are important to consumers, and then to estimate their values. It is argued that the values of each specific element (locational characteristics) should contribute in a predictable way to the overall price of each product in the market place. It is also shown in this study that individual suppliers who cannot identify, or who incorrectly set, prices based on locational characteristics face a measurable variation in demand from the mean in the market place.
The model and methodology are tested empirically in the market for international-standard hotel accommodation on the Gold Coast, Queensland. It is shown that this constitutes a single, coherent market as a tourist destination, where a limited number of producers compete with differentiated products. Those product characteristics that are important to the market are identified, and it is shown that elements of location and other characteristics can be valued accurately across the market. The relationship between suppliers' 'overpricing' or 'underpricing' of their product characteristics and variations in demand from the market average is explored.
This study therefore has implications for pricing strategy, as well as for land valuation and planning. The study can be seen as contributing primarily to the economics literature, in the area of industrial economics, but also to the marketing, and hospitality and tourism literature.Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
School of Economics
Full Text
22
Wynne-Jones, Catherine. "The valuation of Intaka Island : a comparison of the contingent valuation method and hedonic pricing analysis." Master's thesis, University of Cape Town, 2005. http://hdl.handle.net/11427/10846.
Full textAbstract:
Includes bibliographical references (p. 47-48).There are an increasing number of techniques used in the valuation of environmental services. Contingent valuation is the most frequently used stated preference technique, while hedonic pricing analysis is an alternative revealed preference technique employed for the determination of the value attached to a public good. This paper uses both techniques to study the utility generated by Intaka Island, a 16-hectare nature area situated in a rapidly developing area of Cape Town.
23
Teang, Kanha, and Yiran Lu. "Property Valuation by Machine Learning and Hedonic Pricing Models : A Case study on Swedish Residential Property." Thesis, KTH, Fastigheter och byggande, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-298307.
Full textAbstract:
Property valuation is a critical concept for a variety of applications in the real estate market such as transactions, taxes, investments, and mortgages. However, there is little consistency in which method is the best for estimating the property value. This paper aims at investigating and comparing the differences in the Stockholm residential property valuation results among parametric hedonic pricing models (HPM) including linear and log-linear regression models, and Random Forest (RF) as the machine learning algorithm. The data consists of 114,293 arm-length transactions of the tenant-owned apartment between January 2005 to December 2014. The same variables are applied on both the HPM regression models and RF. There are two adopted techniques for data splitting into training and testing datasets, randomly splits and splitting based on the transaction years. These datasets will be used to train and test all the models. The performance evaluation and measurement of each model will base on four performance indicators: R-squared, MSE, RMSE, and MAPE. The results from both data splitting circumstances have shown that the accuracy of random forest is the highest among the regression models. The discussions point out the causes of the models’ performance changes once applied on different datasets obtained from different data splitting techniques. Limitations are also pointed out at the end of the study for future improvements.Fastighetsvärdering är ett kritiskt koncept för en mängd olika applikationer på fastighetsmarknaden som transaktioner, skatter, investeringar och inteckningar. Det finns dock liten konsekvens i vilken metod som är bäst för att uppskatta fastighetsvärdet. Denna uppsats syftar till att undersöka och jämföra skillnaderna i Stockholms fastighetsvärderingsresultat bland parametriska hedoniska prissättningsmodeller (HPM) inklusive linjära och log-linjära regressionsmodeller, och Random Forest (RF) som maskininlärningsalgoritm. Uppgifterna består av 114,293 armlängds-transaktioner för hyresgästen från januari 2005 till december 2014. Samma variabler tillämpas på både HPM-regressionsmodellerna och RF. Det finns två antagna tekniker för uppdelning av data i utbildning och testning av datamängder: slumpmässig uppdelning och uppdelning baserat på transaktionsåren. Dessa datamängder kommer att användas för att träna och testa alla modeller. Prestationsutvärderingen och mätningen av varje modell baseras på fyra resultatindikatorer: R-kvadrat, MSE, RMSE och MAPE. Resultaten från båda uppdelningsförhållandena har visat att noggrannheten hos slumpmässig skog är den högsta bland regressionsmodellerna. Diskussionerna pekar på orsakerna till modellernas prestandaförändringar när de tillämpats på olika datamängder erhållna från olika datasplittringstekniker. Begränsningar påpekas också i slutet av studien för framtida förbättringar.
24
Jankech, Aleš. "Vliv přítomnosti zeleně na cenu nemovitostí." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-15812.
Full textAbstract:
My Diploma thesis is focused on economic evaluation of gratuitous goods, especially on hedonic price method. The core of this paper is theoretical description and practical usage of HPM. Main theme is "Influence of plantscape on flat price.
25
Kaprová, Kateřina. "Vliv zeleně na cenu nemovitostí v Praze." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-76420.
Full textAbstract:
The main purpose of the diploma thesis is to estimate the impact of urban vegetation on real estate prices in terms of hedonic pricing method and furthermore to suggest a way how the estimated results should be implemented into decision-making within green areas of Prague. In the legal setting of Czech republic, the greenery is almost entirely provided to citizens through public budgets. As many effects of green areas do not come through markets, the decision-making about optimal quantity of greenery supplied comes to be heavily problematic. Concerning this, contibution of urban vegetation to the well-being of residents estimated in this thesis may become fundamental guide-post for public bodies. The theorethical part of the thesis is devoted to the problematics of green areas as an economic good and to the specification of urban greenery in Prague.Then the method used is shortly characterised. The practical part deals with choice of the appropriate variables representing urban greenery on the basis of relevant literature search. The main scope of the practical part is to describe and analyze property data set from Prague and finally to examine the impact of chosen environmental variables on the property prices.
26
Haubeltova, Libuse. "Case study of Airbnb listings in Berlin : Hedonic pricing approach to measuring demand for tourist accommodation characteristics." Thesis, Högskolan Dalarna, Nationalekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:du-29979.
Full textAbstract:
The main purpose of this degree project is to reveal the Airbnb customer’s preferences and quantify the impact of non-market factors on the market price of tourist accommodation in Berlin, Germany. The data retrieved from Airbnb listings, publicly available on Inside Airbnb (2017), was supplemented on indicator of sharing economy accommodation using machine learning method in order to distinguish between amateur and business-running professional hosts. The main aim is to examine the consumers’ preferences and quantify the marginal effect of "real sharing economy" accommodation and other key variables on market price. This is accomplished by model approach using hedonic pricing method, which is used to estimate the economic value of particular attribute. Surprisingly, our data indicates the negative impact of sharing economy indicator on price. The set of motivations of consumers, which determine their valuation of Airbnb listings, was identified. The trade-off between encompass and parsimony of the set was desired in order to build an effective model. Calculation of proportion of explained variance showed that the price is affected mainly by number of accommodated persons, degree of privacy, number of bedrooms, cancellation policy, distance from the city centre and sharing economy indicator in decreasing order.
27
Shampton, John F. "Locational Determinants of Real Estate Valuation: an Analysis of Spatial Autocorrelation in the Hedonic Pricing of Real Estate." Thesis, University of North Texas, 1992. https://digital.library.unt.edu/ark:/67531/metadc278245/.
Full textAbstract:
Recent studies of the valuation of real estate have concentrated on the use of hedonic pricing techniques in which the implicit prices of the component characteristics of an asset are inferred from the observed sale price using regression analysis. All of these studies include as explanatory variables one or more locational factors, such as distance to the central business district, as proxies for the effect that location has on the utility of land. In this research, the explicit consideration of the location of real estate in terms of the geographic or Cartesian coordinates (spatial attributes) of observed sales is shown to be a potential substitute for such proxies, either wholly or in part. Such use of spatial attributes could improve
the usefulness of the hedonic methodology while at the same time significantly reducing cost and eliminating sources of error.
28
M, Bashir Ayoub. "Tillämpning av hedonisk prissättning på bostadsrätter : En analys av bostadsmarknaden i Uppsala." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-25261.
Full textAbstract:
Syftet med denna studie är att analysera vad det är som påverkar bostadspriserna på Uppsalas bostadsmarknad. Det är spekulanternas önskemål och krav, det vill säga deras betalningsvilja som påverkar priset. Det kan skilja sig mellan olika spekulanter men för det mesta ses ett tydligt mönster. Spekulanter värdesätter t.ex. områden som ligger nära centrum. Detta kan bero på att Uppsala är en studentstad där det är många studenter som rör sig från och till staden varje år. Bekvämlighet och närhet till bland annat universitet väger in mycket. Studiens statistik kommer från en av Uppsalas största mäklarbyråer Widerlöv & Co. Möjligheten att bolla tankar och idéer med några av deras mäklare som har varit aktiva i branschen länge har varit värdefull.The purpose of this study is to get an overview of what it is that affects housing prices at Uppsala's housing market. My conclusion is that speculator´s willingness to pay is effected by their wishes and demands. Speculator´s appreciate the areas close to the city center. This may be due to Uppsala is a university town where there are many students who are moving from and to the city every year. For example convenience and proximity to university is often a high wish. I had access to statistics from one of the Uppsala´s largest real estate agency Widerlöv & Co. I also had the opportunity to discuss ideas with some of their brokers who have been active in the industry for a long time.
29
Šebková, Veronika. "Vliv železničního hluku na cenu bydlení v Praze: studie hedonické ceny." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-75027.
Full textAbstract:
The aim of this diploma thesis is to determine what is the effect of the train noise on prices of properties in Prague. This influence is investigated by using the method of hedonic price. The theoretical part is devoted not only to the problematic of the train noise and its physical properties but also to its impact on humans and the prices of apartments. Then the train noise is specified as well as its issuers and the ways in which it is possible to defend from the negative effects of the impact of the train noise. The thesis also explains the various stages of the method of hedonic price together with the theoretical part of Foreign Studies which have been engaged in using the method of hedonic price and the train noise. In the empirical part are used the knowledge from search, the selected variables are discussed and are submitted to descriptive analysis and the hypothesis are given. Then the model works through a regression analysis of function of the method of hedonic price and the various results are discussed. This thesis finishes by calculating the implicit prices and elasticities for the individual variables in the selected models. At the very end recommendations and the benefits resulting from the analysis are drawn.
30
Bejranonda, Somskaow. "An assessment of the soil erosion impacts on lakeside property values in Ohio: a hedonic pricing method (HPM) application." Connect to resource, 1996. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1244216361.
Full text
31
Fang, Sai S. M. Massachusetts Institute of Technology. "Using hedonic pricing model to valuate the relationship between property price and air pollution's spatial distribution : evidence from Beijing." Thesis, Massachusetts Institute of Technology, 2017. http://hdl.handle.net/1721.1/113479.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017Cataloged from PDF version of thesis.
Includes bibliographical references (pages 65-66).
Over the past several decades, the real estate market has surged in Beijing. Meanwhile, Beijing suffers severe air pollution now and then. Because of the dissatisfaction of air quality, clean air becomes a highly valued factor of the overall quality of life. When people choose to buy properties, they would be willing to pay more for a unit that is located in less polluted areas than for an otherwise identical unit that is located in more polluted areas. This study aims to establish a relationship between air pollution's spatial distribution and property price by using historical air quality record and property transaction data in Beijing. Although people cannot purchase clean air directly, variations in the air quality of different areas should be indirect reflected in housing prices. Employing the hedonic pricing model, the results suggest a strong positive relationship between a unit's resale price and the air quality of the area where the unit is located, meaning that properties that are located in an area with relatively better air quality are sold at a premium and vice versa. Besides, by using a matching regression, relationship between air quality's seasonal variation and property price is discovered, although it is not statistically significant. Another matching regression confirms that compared to property buyers, property renters care less about the air quality of the area where the unit is located, but care more about the unit's other specific locational attributes and physical attributes, such as job accessibility and interior decoration.
by Sai Fang.
S.M. in Real Estate Development
S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
32
Wright, Danika. "Heterogeneous asset pricing: An examination of the Australian residential real estate market." Thesis, The University of Sydney, 2010. http://hdl.handle.net/2123/6663.
Full textAbstract:
This thesis assesses the methods for pricing heterogeneous assets, with specific examination of the Australian residential real estate market. Each of the three primary methods for controlling for heterogeneity in residential real estate pricing research – median-price analysis, hedonic regression and repeat-sales regression – is susceptible to bias. This thesis represents the first broad study of the impact of these alternative methodologies on research outcomes. Methodological comparisons are made in the study of residential real estate market efficiency in Chapter 4. Using an extensive database of property sale and attribute data, indices are independently estimated following the three alternative methods, from which market efficiency, in its weakest form, is tested. Specifically, the autoregressive predictability and seasonality of returns is measured using Box-Jenkins methodology and regression analysis. Access to more comprehensive data than has previously been available to researchers enables the estimation of indices following the three alternative methodologies. This allows a controlled cross-methodology comparison of results and represents a major extension to the previous work into residential real estate market efficiency (Case and Shiller, 1989; Rosenthal, 2006). Furthermore, this study represents the first major study of weak-form efficiency and seasonality in returns to the major Australian property markets of Sydney and Melbourne. The results indicate that a predictable autoregressive lag structure exists in the returns, thus rejecting the hypothesis of market efficiency in the Australian residential real estate market in its weakest form. There is, however, no deterministic monthly seasonality in returns although the results from the alternative indices are not consistent. Median-price index returns, for example, exhibit significant heterogeneity-induced seasonality and negative first-order autocorrelation. This contrasts with the returns to the repeat-sales index, which exhibit significant positive first-order autocorrelation. Chapter 5 examines the effect of sample selectivity in the presence of asset heterogeneity on hedonic pricing models. A substantive literature has demonstrated the existence of a price impact to properties sold by auction relative to those that sell by private treaty (Dotzour et al., 1998; Lusht, 1996; Mayer, 1998). The work presented in this thesis extends the research in several ways. Firstly, sample selectivity between sale methods is tested and controlled for using the Heckman two-stage procedure and a matched sampling technique. Secondly, a larger sample of sales than has previously been considered is fitted to a more completely specified hedonic function. This is made possible by access to a database containing the virtual population of sales from the Sydney house market. Finally, this represents the most thorough study of the impact of auctions on prices in the Australian market. Using selectivity-corrected regression analysis, it is found that the auction sale mechanism has no effect on prices in the Sydney house market. This runs contrary to the results of past research in the Australian and New Zealand residential real estate markets which document a price premium (Dotzour et al., 1998; Lusht, 1996). Unadjusted hedonic-regression analysis is also performed, the results of which support an auction premium. This difference in results demonstrates the selectivity bias which has influenced past research, and a further methodological issue in pricing heterogeneous assets. The pricing and performance of new properties is considered in Chapter 6. This is a further examination of the ability of hedonic pricing models to counter sample selectivity. Sample selectivity-controlled methods are applied to a comprehensive sample of sales from the Perth residential real estate market. Differences in attributes between the sample of new and existing properties are observed. After controlling for this sample selectivity, the results indicate a significant price premium to new houses and units of around 10% and 7%, respectively. An examination of the returns to new properties at their first subsequent sale, however, demonstrates significant underperformance of new residential real estate assets relative to the market. This is the first study to empirically and theoretically assess the pricing of new residential real estate assets. Finally, Chapter 7 applies alternative index estimation methodologies to a study of the value of public and private information in the residential real estate market. Heterogeneity in the market is a major source of information asymmetry. Indices for the Sydney residential property market are estimated from lead sources of information, both public (newspaper reporting and advertisements) and private (agents’ sales records). Correlation and regression analysis demonstrates that private information is a strong predictor of movements in an index estimated from the population of sales, in line with a priori expectations. This is the first study to assess the value of information in this market and represents a new direction for residential real estate research, particularly as housing derivatives markets continue to evolve.
33
Humavindu, Michael N. "Essays on public finance and environmental economics in Namibia." Licentiate thesis, Umeå : Department of Economics, Umeå University, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-1163.
Full text
34
Sullivan, Kevin T. "The Effects of the 2008 Financial Crisis on the Role Of Bank Characteristics in Pricing of Loans in the Leveraged Loan Market." Scholarship @ Claremont, 2011. http://scholarship.claremont.edu/cmc_theses/288.
Full textAbstract:
The financial crisis of 2008 had systemic implications in the financial services industry spilling over into sectors such as the leverage loan market. I use regression analysis between two data sets (before and after the crisis) to understand the determinants of loan spreads for corporate loans of $100 million and larger, particularly the determinants which constitute bank effects, of the lead lending bank in the loan. I find that the effect of bank monitoring power is not a significant determinant of loan spreads, bank risk was significant before the crisis but not after, and bank size is significant both before and after. There is an inverse relationship between bank size and loan spread such that firms looking to take out a loan would receive a lower spread by mandating a larger bank as the lead arranger, and there is no longer a premium for mandating lead banks with less risk.
35
Engstedt, Andreas. "Arenabygget, ris eller ros? : en hedonisk prisstudie av kommuninvånarnas värdering av den nya arenan." Thesis, Uppsala universitet, Nationalekonomiska institutionen, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-248036.
Full textAbstract:
This study is an examination of the stadium fever prevailing in Sweden. It is built stadiums in Sweden as never before. The high cost of these constructions end up in the end at the Swedish taxpayers. The study examines through the hedonic pricing of real estate how local residents value the new stadiums. The result indicates that local residents put a positive value in the costly and sumptuous buildings. The study includes 44 stadium constructions in 37 municipalities and is the first of its kind in Sweden.Denna studie är en granskning av den arenafeber som råder i Sverige. Det byggs idrottsarenor i Sverige som aldrig förr. De stora kostnaderna för dessa byggen hamnar i slutändan hos de svenska skattebetalarna. Studien undersöker genom hedonisk prissättning av fastighetsmarknaden hur kommuninvånarna värderar de nya arenorna. Resultatet indikerar att kommuninvånarna lägger ett positivt värde i de kostsamma och praktfulla byggena. Studien omfattar 44 arenabyggen i 37 kommuner och är den första i sitt slag i Sverige.
36
LUCCHESE, Gianfranco. "Multivariate hedonic models for heterogeneous product prices in dynamic supply chains." Doctoral thesis, Università degli studi di Bergamo, 2012. http://hdl.handle.net/10446/26713.
Full textAbstract:
Identifying parameters for state-space models in high dimensioned cases requires a complex methodology. We offer an example of application for hedonic prices and the hyper-parameter estimation for dynamic supply chains. An algorithm is created based on the Kalman filter-smoother and Expectation-Maximization procerures. Stopping rules for the algorithm are analyzed and compared. We detected the best stopping rule for our environment. In this way, the hedonic prices estimated can be used for any decision process.
The thesis point to an application in forecast analysis for product prices. Accurate forecasting of market price developments is essential in achieving
superior market performance. Especially in oligopolistic markets for durable consumer products a robust understanding of selling prices is important, as it drives pricing behavior as well as procurement, inventory and production decisions.
Moreover, a supply chain perspective is indispensable for pricing forecasts since companies not only compete for product sales but also for limited resources. The thesis explores the use of dynamic multivariate hedonics-based pricing models that explicitly model selling prices with the market valuation of constituting parts.
The model is applied to TAC SCM, a supply-chain trading agent competition. To find unknown component prices series we apply the Kalman filter technique to smooth and forecast implicit prices using the EM algorithm. Finally, we present results of our analysis to establish the viability of this method.
37
Lai, Sijia. "The Impacts of Supra-Regional Multi-Resort Season Passes: A Hedonic Pricing Model of Single-Day Lift Tickets for US Ski Areas." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2218.
Full textAbstract:
Numerous media analyses claim that supra-regional multi-resort season passes (mega passes) are negatively impacting skiing, snowboarding, and winter-sport communities. In particular, media claims that ski areas on these season passes are charging higher single-day lift ticket prices to nudge people to buy their season pass products. To test this claim, I use a hedonic pricing model to estimate the impact of season passes on adult single-day lift ticket prices. By applying OLS regressions to a dataset of 302 US ski areas for the winter of 2018-19, I find that the ski areas on the leading season passes (Ikon and Epic Pass) charge price premiums for their adult single-day lift tickets. However, the magnitude of the price premiums is much smaller after controlling for ski area characteristics and regional fixed effects.
38
KARADENIZ, DUYGU. "The Impact of the Little Miami Scenic Trail on Single Family Residential Property Values." University of Cincinnati / OhioLINK, 2008. http://rave.ohiolink.edu/etdc/view?acc_num=ucin1211479716.
Full text
39
Dant, Madeline L. "AN ANALYSIS OF FACTORS IMPACTING HAY AUCTION PRICES AND THE POTENTIAL FOR NAP TO REDUCE ALFALFA REVENUE RISK." UKnowledge, 2017. http://uknowledge.uky.edu/agecon_etds/52.
Full textAbstract:
Hay auctions have generally been understudied due to their unique market structure. Therefore, the factors that influence the price of hay at auction markets are not well-known. The price of hay at auction markets reflects the various characteristics that differentiate each lot of hay sold. This study is aimed at analyzing the determinants of Central Kentucky hay prices. A hedonic price model is estimated using data collected from a Central Kentucky hay auction. Known hay attributes include forage species, form, bale weight, and nutritive value. An important aspect of this analysis is to determine whether the quality measures of the hay are significant factors in determining hay prices in this auction setting. While price discovery of hay is important, it is also important to know about the insurance that is available to producers. Insurance for hay production is very limited with only two insurance programs available to Kentucky producers. An evaluation of the Noninsured Crop Disaster Assistance Program is conducted by simulating yields from an alfalfa producer and alfalfa trials from University of Kentucky Agriculture Research Centers in Princeton and Lexington, Kentucky. This analysis reveals the effectiveness of the coverage levels offered through the program for alfalfa producers in Kentucky.
40
Shinn, Joseph. "THREE ESSAYS ON LABOR, HEALTH, AND REAL ESTATE ECONOMICS." Diss., Temple University Libraries, 2018. http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/525130.
Full textAbstract:
EconomicsPh.D.
This dissertation consists of three empirical essays on labor, health, and real estate economics. The first essay theoretically and empirically analyzed the effects of the costs of firing an employee and hiring a replacement in a labor market with imperfect information. The theory suggested that increased expected firing or replacement costs contributed to a ``lemons effect" for the fired worker through the negative signal received in the labor market regarding the worker's ability. To test this theory, data from the Displaced Worker's Supplement to the Current Population Survey from 2004 to 2014 was used. The results were mixed, but suggested that workers in the United States who were displaced from their job experienced decreased probabilities of finding reemployment as firing costs increased. The essay also examined whether this ``lemons effect" contributed to larger wage decreases, but the estimates did not support this conclusion. The second essay estimated the impacts of the 2001 elimination of the Medicare 24-month waiting period for non-elderly Amyotrophic Lateral Sclerosis (ALS) patients. Using data from the National Hospital Discharge Survey, this essay estimated the effects of the elimination on health insurance coverage and utilization of health care services. By applying a difference-in-difference OLS estimation technique, it was estimated that, as a result of the waiting period elimination, non-elderly ALS patients were more likely to be insured, but there was a significant crowd-out of private insurance. These non-elderly patients who were admitted to the hospital with serious symptoms were also more likely to be transferred to long- or short-term care facilities while non-serious patients were more likely to receive a high (four or more) number of medical services while hospitalized. In the third essay, the effects of a new suburban casino on local housing prices were evaluated. Similar to the second essay, a difference-in-difference approach was applied, but it was combined with a spatial hedonic pricing model. Using data from a GIS product from the Maryland Department of Planning and local-area data from the American Community Survey, the effects that the opening of Maryland Live! Casino had on home sales prices of properties located in primary (one-mile radius) and secondary (one to three miles) impact areas were estimated. The results of the estimations indicated that the opening of the casino had a positive impact on housing prices in the primary impact area and this impact likely began during the construction period. No impacts, however, were evident in the secondary impact area.
Temple University--Theses
41
Ghavamzadeh, Sheida. "The impact of perceived product quality, service quality and transaction cost on the customer’s willingness to pay after a price increase." Thesis, Blekinge Tekniska Högskola, Institutionen för industriell ekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-19041.
Full textAbstract:
Objective: The objective of the study is to learn how the customer’s willingness pay after a price increase differs given different product conditions. Specifically, how it differs between high and low involvement products and hedonic and utilitarian products. The objective is also to understand what value drivers it is that affect the customers willingness to pay after a price increase. Methodology approach: An online survey was distributed through social media. The research study was conducted using multiple linear regression and one-way ANOVA using data from 270 participants. Research limitation: The survey used in the study uses scales that have been revised. This means that other important value dimensions that were a part of the original scales have been neglected. Results/conclusion: No significant difference was found between the different product groups. The variables; product quality, service quality were both found to have a positive impact on the outcome variable customer’s willingness to pay after a price increase. The variable transaction cost had on the other hand a negative impact on the outcome variable. Future recommendations: The results of the study indicate that lowering the transaction cost can increase customer’s willingness to pay after a price increase. It also indicates that increasing the product quality and service quality can increase the customer’s willingness to pay after a price increase. Previous research has showed the significant profitability firms can make when they adapt to value-based pricing. Therefore, further studies to investigate the customer’s willingness to pay after a price increase may be of interest.
42
Lemarié-Boutry, Marie. "Les dimensions patrimoniales du foncier viticole bordelais : une lecture par les prix fonciers." Thesis, Bordeaux, 2016. http://www.theses.fr/2016BORD0412/document.
Full textAbstract:
Au travers du cas de la viticulture bordelaise, nous nous demandons dans quelle mesureles prix fonciers sont porteurs de dimensions patrimoniales. Pour répondre à cette question,nous appréhendons le patrimoine comme un ensemble construit de biens et d’institutions,historiquement et territorialement situé, vecteur de formes organisationnelles spécifiques à laviticulture bordelaise. Nous mettons en évidence que le foncier peut être appréhendé commel’un des biens par lequel se construit le patrimoine viticole, les dimensions patrimoniales dela viticulture bordelaise étant révélées par les préférences des acteurs sur le marché foncier.À partir de cette hypothèse et dans le cadre d’une analyse hédonique, nous étudions les prixdes terres viticoles non bâties, vendues entre 2002 et 2010 en Gironde. Ce travail s’appuie surune base de données géographiques multisources originale et sur les techniques d’économétriespatiale. Nous montrons que la construction des valeurs foncières sur le marché porte les tracesde l’histoire de la viticulture bordelaise et de son rapport, passé et futur, au territoireThrough a case-study of wine-farming in Bordeaux, this thesis aims to analyse how vineyardprices reflect heritage. We define heritage as a set of properties and institutions which arehistorically and territorially located. Locally, this defines organisations specific to the Bordeauxviticulture. We show that farmland can be an asset through which the viticulture heritage isbuilt. We assume that the value of this heritage is revealed by the preferences of agents onthe farmland market. From this assumption and through a hedonic analysis, we analyse theprice of vineyards sold between 2002 and 2010 in the Gironde department in France. Thiswork is based on an original multisource geographic information systeme data and uses spatialeconometric techniques. We show that vineyard prices on the market are the reflection of thelocal viticulture and of its past and future links to the territory
43
Cui, Xiurui. "Determining the Value of Birthrank and Parent Age in Thoroughbred Racehorses." UKnowledge, 2016. http://uknowledge.uky.edu/agecon_etds/42.
Full textAbstract:
Thoroughbred racing is referred to as “the sport of Kings”, because historically it was a leisure activity of the upper-class. Thoroughbred breeding on the other hand has transformed from a hobby of the upper-class to a worldwide agricultural industry. With the deep involvement of the royal and rich in the Thoroughbred industry, the auction prices of horses are raised significantly at the top end of the market.
Research in the biological sciences suggests there exits correlations between dam age, foal birthrank, and the racing performance of Thoroughbred horses. This study first investigates how the market values these biological factors and whether they are correlated with racehorses’ career earnings. We further test the impact of sire age as there is limited literature related to the subject. By using a Hedonic pricing model, results show that Thoroughbred buyers at Keeneland September Sale are willing to pay more for the yearlings at 1st, 2nd, and 3rd birthranks, yearlings out of younger mares age from 4 to 10, and yearlings by experienced sires age from 12 to 18. Results from multivariate regressions suggest negative correlations between foal birthrank, parent age and career earnings.
44
Ondrejková, Lenka. "Vplyv zelene na cenu nehnuteľností v Bratislave." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-199279.
Full textAbstract:
The aim of this diploma thesis is the estimation of the influence of green areas on real estate prices in Bratislava, SK. Being not a public good green areas are not market valuated which makes the decision about its size and placement in urban areas problematic. This thesis was written with an aim to evaluate the benefit of greenery and help future decision making concerning green urban areas in Bratislava. Theoretical part points out current situation of green urban areas in Bratislava and real estate market development. It also demonstrates some of the benefits coming from urban greenery and defines hedonic pricing method. Practical part is focused on greenery value estimation using HPM. It analyzes geografical data altogether with real estate data and based on five regression models using various groups of environmental variables estimates the impact of different types of greenery on the real estate prices in Bratislava.
45
Ezzeddine, Moussa. "Pricing football transfers : determinants, inflation, sustainability, and market impact : finance, economics, and machine learning approaches." Thesis, Paris 1, 2020. https://ecm.univ-paris1.fr/nuxeo/site/esupversions/04b54a9e-f462-42c1-b567-4864dbaae12f.
Full textAbstract:
Chaque année, le marché des transferts fait la une des journaux à cause des prix astronomiques payés par les grands clubs de football pour s'acheter des stars. Le montant payé par le club est supposé être une estimation de la valeur du joueur sur le marché. L'objectif de cette thèse est donc de déterminer les facteurs significatifs impactant le modèle de valorisation des joueurs. Pour ce faire, nous exploitons une base de données contenant 87 000 transferts et plus de 200 000 salaires avec deux types de variables ; une variable contenant des données statistiques sur chaque joueur pour les deux saisons précédentes, l'autre contenant une synthèse de notes données par les experts. Ce travail a été réalisé à partir d'un modèle de valorisation hédonique et de trois algorithmes de Machine Learning pour estimer les facteurs les plus importants dans la détermination de la valeur d'un joueur. Bien que perfectible, ces modèles sont capables de prédire les fonctions de prix des transferts et des salaires associés. Enfin, un modèle de marché a été implémenté pour déterminer l'effet des transferts, des résultats inattendus de matchs et de la Covid-19 dans la valeur d'un club de football. Ces recherches ont permis de fournir des explications prometteuses à propos des différentes segmentations sur le marché des transferts et l'impact de ces derniers sur la fluctuation de la valeur de certains clubsEach year new transfer market news tops headlines due to the astronomical prices paid to recruit a superstar by top football clubs. The money paid by the buying club is assumed to be an estimate of the market value of the transferred player. Thus, the challenge is to determine the significant factors that affect the pricing function of a football player. In this research, a large data set has been extracted containing more than 87,000 transfers and more than 200,000 wage observation alongside two sets of variables; one contains real statistics of each player from the previous two seasons, while the other contains synthetic scores given by experts. This work has made use of one hedonic pricing function and three machine learning algorithms to estimate the most important factors affecting the financial value of the player. Albeit imperfect, but the models can predict the pricing functions of the transfer fees and wages with different promising precisions. Finally, a market model has been carried out to determine the effect of transfers, surprising match results, and COVID-19 on the market value of a football club. The overall findings were promising as they have provided interesting explanations about the different segmentations in the transfer market and the effectivity of transfers on the fluctuations of the share values of certain clubs
46
Coate, Bronwyn, and bronwyn coate@rmit edu au. "An Economic Analysis of the Auction Market for Australian Art: Evidence of Indigenous Difference and Creative Achievement." RMIT University. Economics, Finance & Marketing, 2009. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20091127.160406.
Full textAbstract:
This thesis explores factors that determine the price for Australian art sold at auction. Using a large data set that comprises over 20,000 sale observations of Australian paintings sold between 1995 and 2003 characteristics associated with the artist, the work and auction are included in a series of hedonic models. In addition to modelling the overall market, differences within defined market segments for Indigenous and Non-indigenous art are explored. The role of artist identity and critical acclaim, the period in which art works are created and the event of an artist death are areas of specific focus within the analysis along with an investigation of the risks and returns associated with Australian art investment. It is found that artist identity is a crucial factor that drives price. Further, the most highly valued Non-indigenous art works are found to be created prior to 1900, although the market for Contemporary art produced post 1980 is associated with relatively high prices also. Distinctions emerge between Indigenous and Non-indigenous art as we consider the period in which works are created and the influence this has upon price. Almost 90 per cent of Indigenous art sold at auction has been created since 1970 and it is works from the 1970s that command the highest prices for Indigenous art sold at auction. This is not unexpected given the rise of Indigenous art in the early 1970s coinciding with the emergence of the Papunya Tula art movement. The death of an artist also proves to have a different influence upon price when we compared Indigenous and Non-indigenous art. For Non-indigenous art there is clear evidence of a death effect upon art prices, where prices typically rise around the time of an artists death before falling back somewhat with the passing of time. For Indigenous art the influence of a living artist's conditional life expectancy upon price proves to be of greater relevance in explaining price where as the artist ages and the term of their life expectancy reduces prices tend to rise. The analysis within this thesis finishes with the construction of a number of short term art price indices where it is found that returns to investment in Indigenous art are generally higher and less risky compared to Non-indigenous art. Australian art generally and Indigenous art in particular is found to have a relatively weak correlation with the stock market suggesting that Australian art has a role to play in a balanced investment portfolio especially taking into account the aesthetic utility that can also be derived as a result of holding art. The research contributes to understanding how the auction market for Australian art operates with emphasis paid to the distinctions and similarities observed within the sub-markets for Indigenous and Non-indigenous art. Insights from this research have the potential to inform public policy on a number of issues including the effect of resale royalties upon the operation of the auction market, and how indigenous economic development may be facilitated through a strong market for Indigenous art.
47
Colak, Berna. "Generic Competition and Price Regulation in the European Union Pharmaceutical Market: The Case of Cardiovascular Medicines." Scholar Commons, 2014. https://scholarcommons.usf.edu/etd/5000.
Full textAbstract:
The purpose of this dissertation is to examine the extent of competition between generic products and therapeutic substitutes under different regulatory regimes in the European Union
(EU) pharmaceutical industry. In particular, this study investigates generic competition among the five largest European pharmaceutical markets; the United Kingdom, Germany, France, Italy
and Spain, with comprehensive IMS data for 10 years (1994-2003), in order to estimate the effect of generic entry on drug prices at the product level. This analysis finds that generic entry
has a negative effect on prices in countries with free pricing originator market, whereas in EU countries with strict price and reimbursement regulation, generic competition is ineffective and/or counterproductive. Fewer generics and less competitive late entrants are consistent with incentives in regulated environments: low regulated prices for originator products discourage
generic entry following patent expiration. These findings suggest that regulation of both manufacturers' prices and retail pharmacy prices undermines price competition in the off-patent sector, and that budgetary savings from generic price competition are not realized in countries with strict regulatory systems.
48
Dzivakwi, Robert. "Determinants of output prices formation in local sheep markets - the case of Amathole and Joe Xabi (Ukhahlamba), Eastern Cape." Thesis, University of the Western Cape, 2010. http://hdl.handle.net/11394/2544.
Full textAbstract:
Magister Economicae - MEconThis study identifies the determinants of sheep prices for small-scale sheep farming households in two districts of the Eastern Cape, namely Amathole and Ukhahlamba (Joe Xabe). Output prices that small farm households receive for their sheep affect their incomes from agriculture (knowing that revenue is a product of quantity and price), which, in turn, influence their living standards. The study isolates three sets of determinants of price formation in local agricultural markets - structural drivers, institutional factors and livelihood shocks - to account for the variations in prices that smallholder farmers receive. Data were collected from 134 households that were selected using purpose sampling and preceded by key informant and focus groups interviews with actors along the sheep value chain. A questionnaire consisting of both open-ended and quantitative questions was used. The relationship between output price formation and clusters of determinants is a typical hedonic pricing framework, which is fitted using a backward stepwise econometric technique that is a widely used experimental tool to identify significant determinants.
South Africa
49
Zimmerman, Lance C. "Factors influencing the price of value-added calves at Superior Livestock Auction." Thesis, Kansas State University, 2010. http://hdl.handle.net/2097/6991.
Full textAbstract:
Master of ScienceDepartment of Agricultural Economics
Ted C. Schroeder
Value-added management at the cow-calf level is integrated across breeding, health and nutrition programs. Hedonic pricing models are necessary to navigate through the layered management standards imposed by certified health and marketing programs on the cow-calf sector. Previous research in feeder calf pricing models provides insight on the use and development of ordinary least squares in estimating price effects. Breed, vaccination program, age-and-source verification and natural-beef production have become more relevant as vertical coordination has influenced commercial cow-calf producers. This study provides the industry with new information pertaining to the revenue opportunities that exist for cow-calf producers through increased coordination in the beef industry. Video and satellite auction markets are recognized as a national pricing mechanism for feeder cattle in the United States. These markets represent the management and marketing practices of national cow-calf producers and the tastes and preferences of a national stocker and feedlot industry. Previous research in feeder cattle pricing models is applied to the current genetic, management, marketing and market structure information from video auction markets to discover relevant price effects pertaining to value-added calf production. More intensive value-added management practices were expected to enhance the revenue of cow-calf producers selling their calves through video auction markets. This research confirms that verified health and genetic claims produce higher calf prices compared to commodity calves. Weaned calves with at least two rounds of respiratory vaccinations generated an additional $5.50 to $7.50 per cwt., and weaning created $2.75 to $4.50 per cwt. in premiums over non-certified health programs. There were statistical differences among the premiums for each aggregated breed influence, and Angus and black and black-white faced cattle offered the highest breed premiums at $5.25 to $7.50 per cwt. compared to Brahman-influenced calves. Age-and-source verification presents the best opportunity for video auction market premiums among recently developed marketing programs. Statistically significant premiums ranged from $1.25 to $2.00 per cwt. for both steers and heifers over the last five years.
50
Calil, Yuri Clements Daglia. "Avaliação do impacto dos atributos de qualidade em tourinhos de elite da raça nelore comercializados em leilão: uma aplicação do método hedônico." Universidade de São Paulo, 2010. http://www.teses.usp.br/teses/disponiveis/11/11132/tde-20092010-093744/.
Full textAbstract:
O presente estudo mensura o impacto no preço dos atributos de qualidade nos tourinhos da raça Nelore comercializados em leilões por meio de uma metodologia específica, baseada na Teoria dos Preços Hedônicos. Para tanto, utilizou-se como amostra três leilões - 368 observações - de uma fazenda padrão, o Nelore Jandaia. Assim, os atributos dos animais que mais contribuíram para a formação dos preços, em um primeiro plano, foram: a qualidade genética como um todo, expressa através do Mérito Genético Total - MGT, e a qualidade fenotípica global, demonstrada pelo índice EPMURAS. Em um segundo plano, mais específico, agregaram mais valor aos jovens reprodutores características relacionadas à precocidade e fertilidade do lado genético a Diferença Esperada na Progênie - DEP para perímetro escrotal aos 365 dias (dpe365) e no lado fenotípico a nota de precocidade. Por exemplo, os animais com MGT excelente tiveram um prêmio médio de 22% a mais em relação aos considerados como bons, paralelamente os com EPMURAS excelente tiveram um prêmio de 11% em relação aos classificados como muito bons, ceteris paribus. Para cada ponto a mais na precocidade e na DEP dpe365 o valor dos animais comercializados aumenta em, respectivamente, 5% e 5,8%, ceteris paribus. Do exposto, pode-se concluir que se os pecuaristas dedicados ao melhoramento dos seus rebanhos privilegiarem em seus objetivos de seleção animais com excelentes atributos de fertilidade e precocidade receberam prêmios superiores por isso. Em outras palavras, focar a seleção em precocidade e fertilidade agrega valor aos animais.This study measures the impact on the price of quality attributes in Nelore steer sold at auction by a particular methodology, based on the theory of hedonic prices. To this end, we used as a sample three auctions - 368 observations of a standard farm, Nelore Jandaia. Thus, the attributes of animals that contributed most to the price formation were the genetic quality as a whole, expressed through the Total Genetic Merit - MGT, and the overall phenotypic quality, as demonstrated by the index EPMURAS. In a second model, more specific, added more value to young breeding characteristics related to precocity and fertility - the genetic side of the Expected Progeny Difference - EPD for scrotal circumference at 365 days (dpe365) and on the phenotypic note of precocity. For example, animals with excellent MGT had an average premium of 22% more than for those considered as good, along with the excellent EPMURAS had a premium of 11% over rated as very good. For each point on precocity and DEP dpe365 the value of animals traded increases, respectively, 5% and 5.8%, ceteris paribus. From the above, we conclude that if the farmers devoted to the improvement of their herds give priority in their selection goals animals with excellent attributes of fertility and precocity will receive premium for it. In other words, focus the cattle selection on fertility and precocity adds value to animals.