scholarly journals Hedonic Pricing of Rice Attributes, Market Sorting, and Gains from Quality Improvement in the Beninese Market

2021 ◽  
pp. 1-17
Author(s):  
Sali Atanga Ndindeng ◽  
Edgar E. Twine ◽  
Gaudiose Mujawamariya ◽  
Rose Fiamohe ◽  
Koichi Futakuchi
Keyword(s):  
Quality Improvement ◽  
Latent Class ◽  
Consumer Surplus ◽  
Hedonic Pricing ◽  
Value Chains ◽  
Hedonic Price ◽  
Price Model ◽  
Consumer Valuation ◽  
Partial Equilibrium Model ◽  
Head Rice

Abstract Latent class analysis is applied to a hedonic price model to examine the presence of heterogeneity in consumer valuation of quality attributes in the Beninese rice market. Three classes of consumers are found in proportions of 5, 56, and 39 percent. We employ a partial equilibrium model and find modest gains in consumer surplus from an increase in head rice and reduction in chalkiness. The results provide evidence of market sorting, which should be taken into consideration in upgrading rice value chains. Also, it is important to assess potential gains from quality improvement to determine priorities for research and development.

scholarly journals Towards a Hedonic Pricing Method for the Bucharest Private Housing Market

2019 ◽  
Vol 66 (3) ◽  
Author(s):  
Ion Radu Zilișteanu ◽  
Răzvan Muntean ◽  
Ștefan Cristian Gherghina ◽  
Georgeta Vintilă ◽  
Teodora Cristina Barbu
Keyword(s):  
Structure Type ◽  
Hedonic Pricing ◽  
Hedonic Price ◽  
Quantile Regressions ◽  
Price Model ◽  
Surface Type ◽  
The Real Estate ◽  
Property Prices ◽  
Hedonic Pricing Method ◽  
Private Housing

This paper aims at exploring the drivers of dwellings’sale prices in Bucharest, Romania, over the period 2014-2018. Several housing structural attributes are covered, such as the number of rooms, useful and constructed surface, type of comfort, floor, the number of bathrooms, balconies and parking, the seniority from construction, as well as from renovation, structure type, height regime, and the duration until completion of the real estate transaction. By estimating a standard hedonic price model via OLS regression for a sample of 765 transactions, we notice that all the selected variables, except the floor level and seniority from construction, positively influence the property prices. However, in case of useful and constructed surface, nonlinear relationships with property prices were acknowledged. Robustness checks in form of quantile regressions reinforce the empirical findings.

scholarly journals Statistical Analysis with Hedonic Pricing Models: Estimation of Real-Estate Values and Anticipation of Housing Price in Beijing, China

2020 ◽  
Vol 5 (3) ◽  
pp. 178
Author(s):  
Haoxuan Lyu ◽  
Zeyuan Liu
Keyword(s):  
Real Estate ◽  
House Price ◽  
Housing Price ◽  
Hedonic Pricing ◽  
Hedonic Price ◽  
Price Model ◽  
Pricing Models ◽  
Intrinsic Factors ◽  
Dependent Variables ◽  
Beijing China

<p>On the basis of big data regarding the sold house price in Beijing from 2011 to 2017, this research aims to exhibit a comprehensive and rational deducing progress in character with the justified and formulated variables and visible results to be instrumental in the prediction of housing price in Beijing, and it attributes the dominated factors amongst all dependent variables. In this paper, the hedonic price model is the primary analyzing tool to cope with the intrinsic factors in real-estate estimation and prediction.</p>

Consumer valuation of Airbnb listings: a hedonic pricing approach

2017 ◽  
Vol 29 (9) ◽  
pp. 2405-2424 ◽  
Author(s):  
Yong Chen ◽  
Karen Xie
Keyword(s):  
Design Methodology ◽  
Market Competition ◽  
Primary Source ◽  
Hedonic Pricing ◽  
Hedonic Price ◽  
Content Type ◽  
Consumer Valuation ◽  
The Usa ◽  
Behavioral Attributes ◽  
Shed Light

Purpose This paper aims to identify a wide array of utility-based attributes of Airbnb listings and measures the effects of these attributes on consumers’ valuation of Airbnb listings. Design/methodology/approach A hedonic price model was developed to test the effects of a group of utility-based attributes on the price of Airbnb listings, including the characteristics of Airbnb listings, attributes of hosts, reputation of listings and market competition. The authors examined attributes as they relate to the price of Airbnb listings and, therefore, estimated consumers’ willingness to pay for the specific attributes. The model was tested by using a dataset of 5,779 Airbnb listings managed by 4,602 hosts in 41 census tracts of Austin, Texas in the USA over a period from Airbnb’s launch in Texas up until November 2015. Findings The authors found that the functional characteristics of Airbnb listings were significantly associated to the price of the listings, and that three of five behavioral attributes of hosts were statistically significant. However, the effect of reputation of listings on the price of Airbnb listings was weak. Originality/value This study inspires what they call a factor-endowment valuation of Airbnb listings. It shows that the intrinsic attributes that an Airbnb listing endows are the primary source of consumer utilities, and thus consumer valuation of the listing is grounded on its functionality as an accommodation. This conclusion can shed light on the examination of competition between Airbnb and hotel accommodations that are built on the same or similar intrinsic attributes.

scholarly journals Effects of Ad-hoc Data Truncation and Homogeneous Preferences on Recreational Demand and Values: An Application to the George Washington and Jefferson National Forests

2021 ◽  
pp. 1-15
Author(s):  
Kavita Sardana ◽  
John C. Bergstrom ◽  
J. M. Bowker
Keyword(s):  
Latent Class ◽  
Ad Hoc ◽  
Cost Model ◽  
Consumer Surplus ◽  
Poisson Model ◽  
Travel Cost ◽  
National Forests ◽  
Heterogeneous Preferences ◽  
George Washington ◽  
Travel Cost Model

Abstract We estimate a travel cost model for the George Washington & Jefferson National Forests using an On-Site Latent Class Poisson Model. We show that the constraints of ad-hoc truncation and homogenous preferences significantly impact consumer surplus estimates derived from the on-site travel cost model. By relaxing the constraints, we show that more than one class of visitors with unique preferences exists in the population. The resulting demand functions, price responsive behaviors, and consumer surplus estimates reflect differences across these classes of visitors. With heterogeneous preferences, a group of ‘local residents’ exists with a probability of 8% and, on average take 113 visits.

scholarly journals The Premium of Public Perceived Greenery: A Framework Using Multiscale GWR and Deep Learning

2021 ◽  
Vol 18 (13) ◽  
pp. 6809
Author(s):  
Yonglin Zhang ◽  
Xiao Fu ◽  
Chencan Lv ◽  
Shanlin Li
Keyword(s):  
Deep Learning ◽  
Green Spaces ◽  
Development Pattern ◽  
Real Estate Development ◽  
Hedonic Price ◽  
Price Model ◽  
Analytic Framework ◽  
Neighborhood Scale ◽  
Analytical Tools ◽  
Neighborhood Level

Population agglomeration and real estate development encroach on public green spaces, threatening human settlement equity and perceptual experience. Perceived greenery is a vital interface for residents to interact with the urban eco-environment. Nevertheless, the economic premiums and spatial scale of such greenery have not been fully studied because a comprehensive quantitative framework is difficult to obtain. Here, taking advantage of big geodata and deep learning to quantify public perceived greenery, we integrate a multiscale GWR (MGWR) and a hedonic price model (HPM) and propose an analytic framework to explore the premium of perceived greenery and its spatial pattern at the neighborhood scale. Our empirical study in Beijing demonstrated that (1) MGWR-based HPM can lead to good performance and increase understanding of the spatial premium effect of perceived greenery; (2) for every 1% increase in neighborhood-level perceived greenery, economic premiums increase by 4.1% (115,862 RMB) on average; and (3) the premium of perceived greenery is spatially imbalanced and linearly decreases with location, which is caused by Beijing’s monocentric development pattern. Our framework provides analytical tools for measuring and mapping the capitalization of perceived greenery. Furthermore, the empirical results can provide positive implications for establishing equitable housing policies and livable neighborhoods.

Hedonic Price Model

2014 ◽  
pp. 2834-2837
Author(s):  
José-María Montero ◽  
Gema Fernández-Avilés
Keyword(s):  
Hedonic Price Model ◽  
Hedonic Price ◽  
Price Model

scholarly journals Functional Form Model Specification: An Application to Hedonic Pricing

1995 ◽  
Vol 24 (2) ◽  
pp. 166-173 ◽  
Author(s):  
Jeff E. Brown ◽  
Don E. Ethridge
Keyword(s):  
Functional Form ◽  
Hedonic Pricing ◽  
Hedonic Model ◽  
Model Specification ◽  
Estimation Accuracy ◽  
Hedonic Price ◽  
Partial Regression ◽  
Cotton Price ◽  
Residuals Analysis ◽  
Form Model

A combination of conceptual analysis and empirical analysis—partial regression and residuals analysis—was used to derive an appropriate functional form hedonic price model. These procedures are illustrated in the derivation of a functional form hedonic model for an automated, econometric daily cotton price reporting system for the Texas-Oklahoma cotton market. Following conceptualization to deduce the general shapes of relationships, the appropriate specific functional form was found by testing particular attribute transformations identified from partial regression analysis. Minimizing structural errors across attribute levels and estimation accuracy were used in determining when an appropriate functional form for both implicit and explicit prices was found.

A hedonic price model of office rents

1998 ◽  
Vol 16 (3) ◽  
pp. 297-312 ◽  
Author(s):  
Neil Dunse ◽  
Colin Jones
Keyword(s):  
Hedonic Price Model ◽  
Hedonic Price ◽  
Price Model
Sign in / Sign up

Export Citation Format

Share Document