Дисертації з теми "Spatial Hedonic Prices Method"

This dissertation consists of three papers that explore the intersection between geography and housing markets. The research examines both how geographic context shapes housing prices and how house prices influence geography through household location decisions.The first paper explores the spatial structure of housing prices within Tucson, Arizona. Hedonic house-price studies typically assume that housing attribute prices are constant over space. The research tests this assumption and compares two methods of incorporating spatial-varying parameters into house-price models: geographically weighted regression and the spatial expansion method. The results provide evidence that housing attribute prices do indeed vary with geographic context and suggest that more reliable parameter estimates and better house-price estimation accuracy can be achieved through the use of these techniques.The second paper builds upon the first by examining how more realistic conceptions of housing market spatial structure influence the hedonic price estimates of location-specific externalities. The empirical analysis examines how two key spatial effects, spatial dependence and spatial heterogeneity, impact the marginal price estimates for proximity to the Rillito River, within Tucson, Arizona. Both spatial effects are found to influence the resulting estimates, but spatial heterogeneity is of greater practical importance as the price estimates vary widely with geographic context. This research highlights the importance of considering both spatial effects in hedonic externality valuations.The final paper explores how housing prices influence interregional migration patterns, and more specifically, how their influence varies with both stage in the life course and educational attainment. The research models metropolitan migration within the United States during the period 1995 to 2000. The results indicate that housing prices play an important role in driving regional demographic change, as their influence varies with both demographic characteristics. High housing prices deter individuals in their late twenties and early thirties, but their influence wanes during middle age. House prices become more important as individuals near retirement. The results also provide evidence that college graduates respond more to house price differentials than do persons with lower levels of educational attainment.

Information asymmetry could result in sub-optimal decision making. Information asymmetry can therefore undermine the efficiency of economic activities by influencing and reducing social welfare. To overcome these inefficiencies most of the economic analyses have assumed the provision of perfect information. This is not a practical assumption and results become only partially correct. This PhD thesis analyses the effect of information asymmetry on housing market. This study examines the impact of announcements of the Western Brisbane Transport Network on nearby property prices. Negative impacts related to transport corridors are analysed including noise and air pollution and impacts on visual amenity. Also undertaken is a spatial analysis of house prices which measures the magnitude of negative impacts of corridor expansions. The study shows that buyers who were aware of the road corridor expansions experience a higher utility compared to those who were not.

Les activités économiques présentent des formes et des degrés de dépendance variables à l’environnement. L’environnement peut intervenir comme un facteur de production, comme une contrainte à l’usage de certains intrants, comme une contrainte pour certains facteurs de production. La dépendance peut être reliée à la disponibilité ou à la qualité de certaines ressources environnementales, à leur dimension de bien collectif. Il s’agira d’explorer les implications des différentes formes de dépendances bio-physico-chimiques mais aussi juridiques. Dans le cas de l’ostréiculture arcachonnaise, on examinera les formes de dépendance et leur mesure économique, à travers les impacts économiques liés à la disponibilité variable des ressources biologiques marines mais aussi à la productivité naturelle du milieu. L’analyse des caractéristiques socio-économiques des entreprises ostréicoles arcachonnaises permettra de dresser une typologie de ces dernières et ainsi caractériser l’activité. Une approche par la fonction de production sera utilisée pour mettre en évidence les degrés divers de sensibilité à une variation des conditions environnementales de production tandis que l’évaluation par la méthode des prix hédoniques permettra de déterminer le prix implicite des composantes environnementales des indemnités de substitution en tenant compte par ailleurs de la localisation géographique des concessions ostréicoles
Economic activities have forms and degrees of dependency variables to the environment. The environment can act as a factor of production as a constraint to the use of certain inputs, such as a constraint for some inputs. Dependence may be related to the availability or quality of certain environmental resources. It will explore the implications of different forms of dependencies bio-physico-chemical as well as legal. In the case of the Arcachon Bay oyster-farming will examine the forms of dependence and economic measure, through the economic impacts associated with the variable availability of living marine resources but also to the natural productivity of the environment. The analysis of socio-economic characteristics of Arcachon Bay oyster-farms will develop a typology of the latter and thus characterize the activity. A production function approach will be used to highlight the varying degrees of sensitivity to changes in environmental conditions of production while the evaluation by the hedonic price method will determine the implicit price of environmental components of the oyster leases value taking into account also the geographical location of oyster leases

The research methodology comprises theoretical, empirical and evaluation stages.  The theoretical stage provides evidence that substantiates the need for the study and outlines possible ways to address spatial elements in hedonic price modelling.  The empirical stage illustrates the application of GIS and spatial statistics in the estimation of hedonic models for housing markets in Glasgow, Scotland, using 2,715 house prices for 2002 and 61 independent variables.  GIS is used in this study to construct spatial variables including detailed accessibility measures, to help detect the hedonic problems of heteroscedasticity and spatial autocorrelation, and for visualisation.  Spatial statistics are used to test formally and model explicitly the spatial autocorrelation.  The evaluation stage assesses 46 hedonic models, using OLS and spatial hedonic, for a priori segmentations involving the spatial, structural and nested sub-markets.  It also draws general conclusions about the importance of detailed accessibility measures and spatial statistics in sub-market modelling. This study finds that the nested sub-market modelling using a spatial hedonic approach is most effective, followed by the spatial and structural sub-markets.  The OLS sub-market modelling generally reduces spatial autocorrelation but does not eliminate it.  There is a greater incidence of spatial autocorrelation when the market size, with measured by geographical area or density of dwellings is larger.  The spatial hedonic modelling improves the performance of the individual OLS models and the three segmentation approaches, although the relative performance of the latter remains unchanged.  Nevertheless, will the spatial hedonic, the entire market model outperforms the OLS model of structural sub-markets.  Flat-based OLS sub-market models benefit substantially from the spatial hedonic.  The results also suggest that an individual accessibility measure is more significant than the zonal measure because it is able to capture the micro effect of location on price.  Further, spatial statistics produce more accurate, robust and reliable estimates of implicit prices.

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.

The empirical results from past research are quite clear. When the surrounding crime level goes up, housing prices go down. However, what has not been acknowledged in the previous literature is that different crimes might impact our willingness-to-pay heterogeneously. As most of the previous research is done through the usage of simple crime rates, this thesis acknowledges the relative severeness of different crimes. Using the newly developed crime harm index (CHI), the relative severity and harm inflicted by a specific crime is identified. The study is conducted in Sweden, Stockholm, using data for the year 2020. With the use of hedonic price equations, spatial models as well as graphical information system software, this thesis estimates a significant, and non-negligible negative relationship between increased area mean CHI and apartment prices. To the best of the author's knowledge, this is one of the very first analyses within the literature, which acknowledges the relative severeness of crimes, and the first to show a significant negative relationship between increased criminal harm and apartment prices. Further, the resulting estimates and method used in this thesis can be utilized to differentiate between the costs of different crimes, hence enabling precise cost estimates. These estimates could for example be of great use to policymaking, urban planners, and decision-making regarding safety investment.

The concepts of “energy sustainability” and “environmentally friendly” arouse extensive attention and the discussion on how to utilize, save and regulate energy and reduce pollution has become a dominant issue. The building sector in Europe is responsible for 40% of total energy consumption and 38% of total CO2 emissions, leading to economic, geopolitical and environmental concerns. An increasing number of studies have recognized the significant role that energy efficiency played in the residential market and the energy policies and the inner implication that promote or hinder the EPC program has aroused researchers’ concerns. This dissertation aims to explore the spatial implications of energy efficiency on housing price in Barcelona Metropolitan Area and furtherly detect the energy premium submarket in details as well as their policy implications. To well-fulfil this general objective, there are four specific objectives proposed: 1) To explore the possibility of selection biases when detecting the “green premium” in Barcelona residential market; 2) To explore the EPC impacts on housing price in different residential segmentations are uneven or not; 3) To explore the presence of spatial dependence (i.e. autocorrelation) when analyzing the impact of EPC on housing price; 4) To explore the presence of spatial heterogeneity when analyzing the impact of EPC on housing price. This dissertation has employed a series of Hedonic Price Models (HPMs) and spatial econometric models as well as other approaches or methods to fulfil the specific objectives. It has drawn a series of conclusion concerning each empirical study. Firstly, sample selection bias indeed exists and will lower the energy efficiency’s impacts on housing price. In our case, the green premium will reach to an increase of 12% if an apartment improves its energy efficiency from rating G to rating A. From an ordinal EPC perspective, about 2% growth of housing price along with energy efficiency rating improvement gradually (i.e. step by step in the G to A Spanish EPC Scale). At the same time, we found that selection biases in Barcelona mainly happened surrounding the area with a higher housing price and more university-educated citizens. From a real estate segmentation perspective, there are several highlights of energy premium performance. Secondly, consumers are willing to pay more for those tangible characteristics (e.g. heating or air conditioning) rather than an intangible and composite indicator. Interestingly, the housing price in “new apartment” segmentation market does not sensitive at all to energy efficiency which supposed that the EPC implication has been captured by new buildings’ structural quality. However, those cheapest apartments with a worst structural quality can enjoy considerable “energy premium” (reaching to 33%) if they renovated certificates from rating G to rating A. It is inferred that the poor people may regard this EPC label as one of the quality indicators for an apartment. It highlights that the spread and transparency of energy efficiency may fail to the public with a lower income/lower social class. Thirdly, empirical study III and IV confirmed the existence of spatial dependence and heterogeneity which contributed to the non-stationary distribution of energy premium. In sum, there are many limitations to this dissertation but it has synthesized a comprehensive model to check the spatial implication of energy efficiency on housing prices. In the future how to improve this compositive model and apply it in other case study are our aims.
Los conceptos de “sostenibilidad energética” y “ambientalmente amigable” han ganado relevancia, y la discusión sobre cómo utilizar, ahorrar y regular la energía para reducir la contaminación, se ha convertido en un tema dominante. El sector de la construcción en Europa es responsable del 40% del consumo total de energía y del 38% de las emisiones totales de CO2, lo que genera preocupaciones económicas, geopolíticas y medioambientales. Por esta razón, varios países y distritos de Europa han comenzado a establecer sistemas de gestión energética de edificios para controlar, supervisar y mejorar la eficiencia energética de las edificaciones. Entre ellos se incluyen los Certificados de Eficiencia Energética (EPC), lanzados en 2003, el Método de Evaluación Ambiental del Building Research Establishment (BREEAM), que se lanzó en el Reino Unido en 1990, la certificación de Alta Calidad Ambiental (HQE) en Francia y Minergie en Suiza. Asimismo, una gran cantidad de estudios han reconocido la importancia de la eficiencia energética en el mercado residencial. Donde las implicaciones internas de las políticas energéticas que promueven o dificultan el programa de EPC, han despertado la preocupación de los investigadores. En este contexto, la presente tesis doctoral ha buscado contribuir en este campo de investigación, con especial atención a la Zona Climática Mediterránea que no ha sido bien discutida hasta el momento. En general, El presente trabajo tiene como objetivo explorar las implicaciones espaciales de la eficiencia energética en el precio de la vivienda en el Área Metropolitana de Barcelona y detectar con más detalle el submercado de la prima energética, así como sus implicaciones políticas. Para cumplir con este objetivo general, se proponen cuatro objetivos específicos: 1) evaluar los posibles sesgos de selección a la hora de detectar la “prima verde” en el mercado residencial de Barcelona; 2) analizar la desigualdad de los impactos del EPC en el precio de la vivienda en diferentes segmentaciones residenciales; 3) evaluar la dependencia espacial (es decir, autocorrelación) al analizar el impacto del EPC en el precio de la vivienda; 4) examinar la heterogeneidad espacial al analizar el impacto del EPC en el precio de la vivienda. Como la segunda zona urbana más grande con clima mediterráneo y con las viviendas más eficientes energéticamente de España, el Área Metropolitana de Barcelona es un buen ejemplo para analizar el comportamiento de la eficiencia energética de esta región. En nuestro caso, el precio de venta de los apartamentos y otras variables relativas que impactan en los precios de la vivienda se recopilaron en 2014 y 2016 respectivamente. Para esta investigación se han empleado una serie de Modelos de Precios Hedónicos (HPM) y modelos econométricos espaciales, así como otros enfoques o métodos para cumplir con los objetivos específicos. En estudio empírico I, se aplica el modelo de dos pasos de Heckman para determinar si existen sesgos en la selección de la muestra. Una vez que haya un sesgo de selección, se introducirá una variable de instrumento - "relación inversa de Mills" en el HPM para corregir dichos sesgos. Finalmente, se presenta una breve comparación entre los resultados de la estimación de OLS y HPM sin sesgo para ver cómo los sesgos de la muestra de selección influyen en los resultados, positiva o negativamente. Después de corregir los sesgos mediante la selección de la muestra, el estudio empírico II empleó un HPM tradicional con una variable de sistema integral en cuanto a calidad estructural, accesibilidad, vecindario y medio ambiente, así como el aspecto socioeconómico. Luego, se utiliza un análisis de conglomerados de dos pasos para identificar la existencia de segmentación inmobiliaria. De acuerdo con el desempeño de varias características de la segmentación, se especifican varios HPM para explorar cómo la eficiencia energética impacta en el precio de la vivienda a nivel local. Los estudios empíricos III y IV, introducen el Modelo de Error Espacial (SEM) y el Modelo de Regresión Ponderada Geográficamente (GWR) para resolver las implicaciones espaciales, donde el primero es para el problema de la dependencia espacial y el segundo para la heterogeneidad espacial. Cada uno de los estudios empíricos ha arrojado conclusiones particulares. En primer lugar, existe un sesgo de selección de la muestra que reducirá los impactos de la eficiencia energética en el precio de la vivienda. En nuestro caso, la prima verde alcanzará un aumento del 12% si un apartamento mejora su eficiencia energética de la calificación G a la calificación A. Desde una perspectiva EPC ordinal, alrededor del 2% de crecimiento del precio de la vivienda junto con la mejora de la calificación de eficiencia energética gradualmente (es decir, paso a paso en la escala EPC española de G a A). Al mismo tiempo, encontramos que los sesgos de selección en Barcelona ocurrieron principalmente en las zonas de mayor precio de vivienda y el mayor número de ciudadanos con educación universitaria. Desde una perspectiva de segmentación inmobiliaria, hay varios aspectos destacados del desempeño de la prima energética. En segundo lugar, los consumidores están dispuestos a pagar más por aspectos tangibles (por ejemplo, calefacción o aire acondicionado) que intangibles y compuestos. Curiosamente, el precio de la vivienda en el mercado de segmentación de "apartamentos nuevos" no es sensible en absoluto a la eficiencia energética, lo que supuso que la implicación del EPC se había reflejado en la calidad estructural de los nuevos edificios. Sin embargo, aquellos apartamentos más baratos y de menor calidad estructural son acreedores de una considerable “prima energética” (llegando al 33%) si renovaron los certificados de la calificación G a la calificación A. Se infiere que las personas de menos ingresos pueden considerar la etiqueta del EPC como un indicador de calidad para un apartamento, aunque se destaca que la difusión y transparencia de la certificación de la eficiencia energética puede presentar más fallas al público de las clases sociales más bajas. En tercer lugar, los estudios empíricos III y IV confirmaron la existencia de dependencia espacial y heterogeneidad que contribuyó a la distribución no estacionaria de la prima energética. En resumen, aunque existe una gran cantidad de limitaciones en el estudio de este tema, el presente trabajo ha logrado sintetizar un modelo integral para verificar la implicación espacial de la eficiencia energética en los precios de la vivienda. Por lo que, en futuras investigaciones buscará mejorar este modelo y replicarlo en otros casos de estudio.

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.

During the last few decades, economists have become interested in the wine industry and several of them have focused on the determinants of price. One characteristic that has been identified as an important determinant is expert wine ratings. Much of the previous research on this topic has focused on relating expert grades to the retail price of wine. Using proprietary data, this paper will test whether these grades influence retail prices as well as retailer profits and wholesale pricing. By analyzing an individual wholesale firm in South Florida and their distribution network, this paper determines the effect expert ratings have on these dependent variables. Empirical evidence confirms that expert ratings have a positive effect on wholesale and retail wine prices and that they exhibit a parallel influence on retailer profits. This thesis aims to contribute new information to aid both the end consumers purchasing decisions as well as busi-ness pricing strategies.
B.A.
Bachelors
Business Administration
Economics

Using the hedonic price approach, the prices of heterogeneous goods such as housing can be derived from the sum of the item’s utility-bearing parts. Since its introduction, the approach has become an established real estate method for valuing intangible goods. Despite the well-known impacts of amenity and access on house prices, limited attention has been given to the impacts of the urban built form on property values. This stems partly from the fact that few quantitative methods exist that can provide a thorough understanding of the built environment. Through three interrelated strands of empirical research, this research proposes using spatial configuration methods and the hedonic price approach as an empirical strategy for enhancing the analysis and interpretation of the housing market in the densely populated region of Greater London. The first strand of the argument focuses on the correlation between accessibility and house prices. Existing results show a strong relationship between geographic accessibility , such as Distance to the Central Business District and house prices. There are, however, two problems with this approach. First, geographical measures assume a predetermined employment location; second, is that such measures often fail to consider the network effects on house prices. This study reveals that spatial network centrality and geographical measures are jointly significant in explaining house prices. The second strand of the argument focuses on the relationship between the local area and house prices. In the past, census output areas were used for measuring this relationship. In reality, however, utilising these arbitrary definitions has led to inconsistent results. In contrast, the proposed study takes a Street-based Local Area (St-LA)” approach, which can more accurately captures the subtle differences in the urban environment. In response to the common problem of using census output areas as building blocks for defining housing submarkets, the third strand of this research shows that housing submarkets can be described more accurately using the St-LA approach through the application of a hedonic price model. The results demonstrate that spatial configuration factors are significant when correlated with house prices at different scales. This research links the results of the three areas of investigation in order to provide a more comprehensive understanding of the economic performance of the built form and to encourage planners, decision-makers and developers in using spatial configuration-based methods in planning and design that can lead to more equitable and sustainable policy making.

Mestrado em Arquitectura Paisagista - Instituto Superior de Agronomia
The acknowledgement of the value of urban forests and to recognize their benefits to the environment and to the population may be favourable to the decision making in the cities. Therefore, this study aims to assess the value of the urban forests within five Lisbon districts using the Hedonic Price Method. For that, a list of the characteristics (variables) of the districts dwellings was created, considering the geographic location, generating a database for statistic analysis and to be applied in the hedonic price equation. As a result, the market values given to each one of the variables were determined, in order to choose the most important variables in the dwellings price formation. Using a multiple linear regression function, with a probability of F of 95%, a value of R2 of 0.83 was achieved for the variable distance to the closest urban forest, concluding that the value of a house decreases 135 € per each meter that the dwelling gets farer from the closest urban forest. Also, the geographic information systems proved to be an important tool to achive so important results

Esta dissertação apresenta um estudo sobre o mercado imobiliário de Porto Alegre que tem como objetivo verificar a formação de preços dos mercados de venda e de locação. Este objetivo é cumprido de duas formas: a) analisando como o tempo que um imóvel está no mercado afeta seu preço e b) comparando como diferentes modelos econométricos preveem os preços de imóveis da capital gaúcha. Para o primeiro tópico, encontram-se evidências de que os proprietários reduzem, em média, 9% o valor de locação para atrair clientes à medida que o tempo passa. Isto não se concretiza da mesma forma no mercado de venda, uma vez que há uma valorização à medida que o imóvel está no mercado. Para o segundo tópico, foram estimados cinco modelos (ingênuo, MQO, SAR, SEM e combinação) para averiguar a performance de previsão fora da amostra dos preços de imóveis. Embora as estatísticas descritivas dos erros não permitam análises conclusivas a respeito dos modelos, a estimação do model confidence set de Hansen et al. (2011) mostra o modelo ingênuo como a melhor série de previsões para os mercados de venda e de locação.
This thesis presents a study on the real estate market of Porto Alegre in order to verify the price formation in both sales and rental markets. This objective is accomplished in two ways: a) analyzing how time on market of a property impacts its price and b) comparing how different econometric models predict real estate prices. For the first topic, I show evidence that owners reduce on average 9% of rental value of available homes in order to attract customers as time on market goes by. This pattern is not present in the sales market, in which an appreciation occurs as time passes, indicating an inflation compensation. For the second topic, five models (naive, OLS, SAR, SEM and a combination) were estimated to determine out-of-sample forecasting accuracy. Although traditional error measures do not allow to choose the best forecasting series, the model confidence set procedure of Hansen et al. (2011) shows the naïve model as being the best forecasting model.

Neste trabalho, utilizamos uma equação hedônica para estimar o preço implícito de amenidades urbanas a partir de dados do mercado de imóveis no Município de São Paulo. São testadas duas especificações: uma com as variáveis explicativas originais e outra com a construção de fatores para correção de multicolinearidade. Além de considerar a configuração monocêntrica tradicional, propomos a inclusão de um vetor de acessibilidade para o caso de uma cidade duocêntrica. A investigação sobre as variáveis ambientais relevantes é fundamentada na interpolação espacial dos resíduos. Concluímos que a proximidade das estações de trem, a presença de áreas verdes e o zoneamento estritamente residencial valorizam o imóvel para fins residenciais, enquanto a criminalidade reduz o seu valor.
In this work, I use a hedonic equation to estimate the implicit prices of urban amenities based on housing market data for the city of São Paulo. I test two different specifications, one with the original independent variables, and another with factors to correct for multicollinearity. In addition to the traditional monocentric model, I include an accessibility vector for a duocentric city. A criterion to select the appropriate environmental variables based on residual spatial interpolation is introduced. I conclude that proximity to train stations, green areas and strict residential zones raise rents, while criminality reduces them.

Este estudo visa compreender a relação entre os atributos intrínsecos e extrínsecos do produto calça jeans e o seu preço no varejo, tendo como objetivo específico analisar a influência separadamente dos atributos intrínsecos e extrínsecos sobre os preços. Para tanto, utiliza-se da teoria de atributos proposta por Lancaster (1966) e dos métodos de preços hedônicos propostos por Rosen (1974), por meio dos quais é possível observar a importância dos pacotes de atributos intrínsecos e extrínsecos sobre os preços, bem como observar a constituição de pacotes de atributos para diferentes perfis econômicos de consumidores. Foram analisadas 12 categorias de atributos sendo 5 de atributos intrínsecos e outras 7 de atributos extrínsecos. A coleta de dados foi realizada por meio de observação e a pesquisa foi realizada no período de 01 de julho a 31 de julho de 2015 nos maiores shoppings centers e principais lojas de ruas de São Paulo. A partir dos dados coletados, foram realizadas regressão múltipla e a regressão quantílica. A regressão múltipla apresentou o R2 de 58%, nessa análise os principais atributos que influenciam são: loja premium, venda assistida, origem da loja, tamanho da loja (megaloja), tamanho da loja (ampla), lavagem destroyed, resina, modelo flare, lavagem dirty, localização da loja (rua ou shopping), complementos, modelo skinny insumos elastano e poliéster. A regressão quantílica proporciou a análise para 10% das calças mais caras e para os 10% das calças mais baratas. Para as calças mais caras o R2 é de 45% para as calças mais caras há mais atributos extrínsecos do que atributos do produto interferindo no preço, são eles: os insumos poliéster e elastano, lavagem e resinagem, origem da marca da loja, posicionamento da marca, venda assistida, localização da loja, cartão de crédito - private label (nesse caso influenciando negativamente), e tamanho da loja, todos extrínsecos ao produto, se mostraram relevantes para o processo de precificação das calças jeans mais caras observadas nesse estudo. Já para as calças mais baratas, com R2 de 27%, parece haver um equilíbrio entre o número de variáveis intrínsecas e extrínsecas que interferem no preço das calças jeans mais baratas, pois somente a modelagem (atributo intrínseco) e cartão private label (atributo extrínseco) parecem não interferir na precificação. Concluiu-se que há mais atributos extrínsecos que influenciam o preço da calça jeans no varejo.
This study aims to understand the relationship between intrinsic and extrinsic attributes of jeans and its retail price, with the specific objective to analyze the influence separately from intrinsic and extrinsic attributes on prices. To do so, it uses the attributes of theory proposed by Lancaster (1966) and hedonic pricing methods proposed by Rosen (1974), through which it is possible to see the importance of intrinsic and extrinsic attributes packages on prices and to observe the constitution attributes of economic packages for different consumer profiles. 12 categories of attributes, 5 of intrinsic attributes and other 7 extrinsic attributes were analyzed. Data collection was carried out through observation and the survey was conducted in the period from July, 1st to July, 31st, 2015 in major shopping malls and main streets of São Paulo stores. The collected data was analyzed through multiple regression and quantile regression. Multiple regression showed a R2 of 48%, according to this analysis the attributes that influence are: premium store, assisted sale, shop origin, size of the store (superstore), store size (large), destroyed wash, resin application, flare model, dirty wash, store location (street or shopping), accessories, skinny model spandex inputs and polyester. The quantile regression, pointed analysis for 10% of the most expensive jeans and for 10% of the cheapest jeans. For the most expensive pants, R2 is 45% the extrinsic attributes interfering in the price more than product attributes, they are: polyester inputs and spandex, washing and resin application, the origin for store brand, brand positioning, assisted sale, store location, credit card -private label (in this case presenting a negative influence) and size of the store, all extrinsic to the have shown to be relevant to the process of pricing of the most expensive jeans observed in this study. As for the cheapest pants, with R2 of 27% seems to be a balance between the number of intrinsic and extrinsic variables that affect the price of the cheapest jeans, modeling (intrinsic attribute) and private label (extrinsic attribute) do not seem to interfere in pricing. It was concluded that there are more extrinsic attributes that influence the jeans of the retail price.

碩士
國立雲林科技大學
財務金融系碩士班
94
The continuous decline in macro-economic conditions has contributed to a slump in real estate market cycle. As a result, there has been a steady increase in mortgage arrears. A large number of mortgage arrears have been released to the court auction housing market. Spatial parameters of data proposed by Pace and Gilley (1997) are used to improve the Simultaneous Autoregression Model (SAR Model for short) of estimated results and enhance accuracy of appraisals for an empirical study in this research. . Information on court auction houses determined by Taichung District Court from the first quarter of 2004 to the forth quarter of 2005 is collected. There are 423 court auction houses located in Taichung City; however, information from Department of Land Administration, Ministry of the Interior showed there were 1096 house transactions at market prices in the same area. The actual transaction prices of concluded real estate announced by Department of Land Administration, M. O. I. and real prices of court auction houses in the same period are served as dependent variables. Independent variables that may affect court auction houses are selected for regression analysis based on SAR to prove that court auction houses indeed have lower bid prices relatively. In the SAR model, main results are found (1)Prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 40.55% on average.(2)Middle district. East district.. South district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 38.74%.(3)West district. .North district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 30.23%.(4) Bei-Tewn district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 47.27% .(5)Cei-Tewn district.. Ann-Tewn district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 36.87%

The thesis introduces several methods of real estate price modelling suitable either for prediction of the housing prices or for exploring the relationships between the price and its determinants. We compared the conventional linear regression approach to the tree-based methods of machine learning. The comparison analysis on the dataset of 28 019 apartments in Prague suggests that regression trees (especially the Random forest) yield a higher accuracy in the price prediction. Another objective was to examine the effects of location attributes (especially its accessibility and environmental quality) on the prices of nearby apartments. To address the spatial interactions in the geographical data, we employed three spatially conscious models to achieve more reliable results. The local analysis performed with the geographically weighted regression confirmed the presence of spatial heterogeneity and described the price effects relative to the location. In some areas, an increase of 100 meters in distance from the nearest metro station and the nearest park are associated with a decrease in the apartment prices by 644 CZK/m2 and 916 CZK/m2 , respectively. These findings are especially important for the apartments near the stations of the new metro line, which is currently in construction.