scholarly journals Hedonic Pricing of Cryptocurrency Tokens

2018 ◽  
Author(s):  
Jamsheed Shorish
Keyword(s):  
Hedonic Pricing ◽  
Multiple Roles ◽  
Use Cases ◽  
Partial Equilibrium ◽  
Pricing Model ◽  
Jel Codes ◽  
Relative Valuation ◽  
The Relationship ◽  
Pricing Framework

A cryptocurrency token offers a method of incentivizing behavior in a way that supports trusted interaction (through its blockchain-based infrastructure). It also acts as a multipurpose instrument that may fulfill a variety of roles, such as facilitating digital use cases or acting as a store of value. Understanding how to value such an instrument is complicated by these multiple roles because the relative valuation of one role cannot be disentangled from another role—a token is a ‘bundled’ good. In this work a general pricing model for cryptocurrency tokens is derived, based upon and extending the hedonic pricing framework of Rosen (1974) in a partial equilibrium framework. It is shown that individual roles (or characteristics) of a token may be priced by inverting in a special way the relationship between the token’s aggregate quantity and its provision of characteristics. Interaction between a monopolistic token seller and a representative buyer results in an equilibrium that clears both the aggregate token market and the characteristic market. Particular attention is given to the case in which a token possesses a security role, as this has been a focus of existing discussions regarding the regulation of the cryptocurrency market. JEL Codes: D46, C60.

scholarly journals Determinants of Wine Prices: A Systematic Literature Review

Competitio ◽  
2021 ◽  
Vol 19 (1-2) ◽  
pp. 1-15
Author(s):  
Péter Gál
Keyword(s):  
Web Of Science ◽  
Hedonic Pricing ◽  
Decision Makers ◽  
Economic Literature ◽  
Jel Codes ◽  
Quality Ratings ◽  
Wide Range ◽  
Objective Quality ◽  
Hedonic Pricing Method ◽  
The Relationship

Wine is a highly differentiated product sold at a wide range of different prices. This article aims to provide a systematic review of the literature written on the determinants of wine prices globally. The article runs a search on the combination of keywords “wine”, “price”, “determinant” in the Web of Science, Scopus, JSTOR, ProQuest, and Science Direct databases. Based on a final set of 46 articles written between 1998 and 2018, results suggest that terroir and quality ratings are the most significant determinants of wine prices, while objective quality and label data also determines wine prices, though to a different extent and with a different sign in some cases. The hedonic pricing method was the most common way of analyzing the relationship between wines prices and their determinants, and results are similar for most regions and varieties. We believe that our results can be useful for researchers, stakeholders, and even for decision-makers in better understanding the factors lying behind wine prices. Journal of Economic Literature (JEL) codes: D12, D40 Q11

EXPLORING THE RELATIONSHIP BETWEEN ARTIFICIAL DUNES AND BEACHFRONT PROPERTY VALUES: INSIGHTS FROM THEORY AND A HEDONIC PRICING MODEL

2020 ◽  
Author(s):  
Jesse C. Kolodin ◽  
◽  
Jorge Lorenzo-Trueba ◽  
Porter Hoagland ◽  
Di Jin ◽  
...  
Keyword(s):  
Property Values ◽  
Hedonic Pricing ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
The Relationship

scholarly journals FACTOR ANALYSIS ON HEDONIC PRICING MODEL ON OPEN SPACE AFFECTING THE HOUSING PRICE IN MELAKA AND SEREMBAN

2018 ◽  
Vol 16 ◽  
Author(s):  
M. Zainora Asmawi ◽  
Mohammad Abdul Mohit ◽  
Noorzailawati Mohd Noor ◽  
Alias Abdullah ◽  
Tuminah Paiman
Keyword(s):  
Factor Analysis ◽  
Open Space ◽  
House Price ◽  
Housing Price ◽  
Hedonic Pricing ◽  
Residential Area ◽  
Pricing Model ◽  
Kuala Lumpur ◽  
Hedonic Pricing Model ◽  
The Relationship

Open spaces near residential area often labelled as development constraint since each residential development must provide 10 percent of open space from the total acreage according to Malaysia planning guidelines. Kuala Lumpur has noticeable lost in open space in residential area and this issue might happen with other neighbourhood states such as Negeri Sembilan and Melaka. Therefore, the purpose of this study is to find the resident perspective on the importance of open space while purchasing their housing property. As such, the aim of the research is to study and examine the characteristics of relationship between public openspaces and residential property value using GIS-Hedonic pricing modelling in the selected residential area in Seremban and Melaka. To find the gist of this study, factor analysis has been used to sum the hedonic pricing model output. Seremban and Melaka respondents have chosen the Importance of the House attributes in influencing the house price and Importance of open space following factors in influencing the house price. The research examined the relationship between the open space and house price at selected area in Seremban and Ayer Keroh. As found in the literature reviews, it validates that the relationship established in a positive pattern.

scholarly journals A SPATIAL ANALYSIS ON GIS-HEDONIC PRICING MODEL ON THE INFLUENCE OF PUBLIC OPEN SPACE AND HOUSE PRICE IN KLANG VALLEY, MALAYSIA

2016 ◽  
Vol XLI-B8 ◽  
pp. 829-836
Author(s):  
A. M. Zainora ◽  
M. N. Norzailawati ◽  
P. Tuminah
Keyword(s):  
Open Space ◽  
Price Change ◽  
House Price ◽  
Value Added ◽  
Hedonic Pricing ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
Public Open Space ◽  
Klang Valley ◽  
The Relationship

Presently, it is noticeable that there is a significant influence of public open space about house price, especially in many developed nations. Literature suggests the relationship between the two aspects give impact on the housing market, however not many studies undertaken in Malaysia. Thus, this research was initiated to analyse the relationship of open space and house price via the techniques of GIS-Hedonic Pricing Model. In this regards, the GIS tool indicates the pattern of the relationship between open space and house price spatially. Meanwhile, Hedonic Pricing Model demonstrates the index of the selected criteria in determining the housing price. This research is a perceptual study of 200 respondents who were the house owners of double-storey terrace houses in four townships, namely Bandar Baru Bangi, Taman Melawati, Subang Jaya and Shah Alam, in Klang Valley. The key research question is whether the relationship between open space and house price exists and the nature of its pattern and intensity. The findings indicate that there is a positive correlation between open space and house price. Correlation analysis reveals that a weak relationship (rs < 0.1) established between the variable of open space and house price (rs = 0.91, N = 200, p = 0.2). Consequently, the rate of house price change is rather small. In overall, this research has achieved its research aims and thus, offers the value added in applying the GIS-Hedonic pricing model in analysing the influence of open space to the house price in the form of spatially and textually.

scholarly journals FACTOR ANALYSIS ON HEDONIC PRICING MODEL ON OPEN SPACE AFFECTING THE HOUSING PRICE IN MELAKA AND SEREMBAN

2018 ◽  
Vol 16 (6) ◽  
Author(s):  
M. Zainora Asmawi ◽  
Mohammad Abdul Mohit ◽  
Norzailawati Mohd Noor ◽  
Alias Abdullah ◽  
Tuminah Paiman
Keyword(s):  
Factor Analysis ◽  
Open Space ◽  
House Price ◽  
Housing Price ◽  
Hedonic Pricing ◽  
Residential Area ◽  
Pricing Model ◽  
Kuala Lumpur ◽  
Hedonic Pricing Model ◽  
The Relationship

Open spaces near residential area often labelled as development constraint since each residential development must provide 10 percent of open space from the total acreage according to Malaysia planning guidelines. Kuala Lumpur has noticeable lost in open space in residential area and this issue might happen with other neighbourhood states such as Negeri Sembilan and Melaka. Therefore, the purpose of this study is to find the resident perspective on the importance of open space while purchasing their housing property. As such, the aim of the research is to study and examine the characteristics of relationship between public openspaces and residential property value using GIS-Hedonic pricing modelling in the selected residential area in Seremban and Melaka. To find the gist of this study, factor analysis has been used to sum the hedonic pricing model output. Seremban and Melaka respondents have chosen the Importance of the House attributes in influencing the house price and Importance of open space following factors in influencing the house price. The research examined the relationship between the open space and house price at selected area in Seremban and Ayer Keroh. As found in the literature reviews, it validates that the relationship established in a positive pattern.

scholarly journals A SPATIAL ANALYSIS ON GIS-HEDONIC PRICING MODEL ON THE INFLUENCE OF PUBLIC OPEN SPACE AND HOUSE PRICE IN KLANG VALLEY, MALAYSIA

2016 ◽  
Vol XLI-B8 ◽  
pp. 829-836
Author(s):  
A. M. Zainora ◽  
M. N. Norzailawati ◽  
P. Tuminah
Keyword(s):  
Open Space ◽  
Price Change ◽  
House Price ◽  
Value Added ◽  
Hedonic Pricing ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
Public Open Space ◽  
Klang Valley ◽  
The Relationship

Presently, it is noticeable that there is a significant influence of public open space about house price, especially in many developed nations. Literature suggests the relationship between the two aspects give impact on the housing market, however not many studies undertaken in Malaysia. Thus, this research was initiated to analyse the relationship of open space and house price via the techniques of GIS-Hedonic Pricing Model. In this regards, the GIS tool indicates the pattern of the relationship between open space and house price spatially. Meanwhile, Hedonic Pricing Model demonstrates the index of the selected criteria in determining the housing price. This research is a perceptual study of 200 respondents who were the house owners of double-storey terrace houses in four townships, namely Bandar Baru Bangi, Taman Melawati, Subang Jaya and Shah Alam, in Klang Valley. The key research question is whether the relationship between open space and house price exists and the nature of its pattern and intensity. The findings indicate that there is a positive correlation between open space and house price. Correlation analysis reveals that a weak relationship (rs < 0.1) established between the variable of open space and house price (rs = 0.91, N = 200, p = 0.2). Consequently, the rate of house price change is rather small. In overall, this research has achieved its research aims and thus, offers the value added in applying the GIS-Hedonic pricing model in analysing the influence of open space to the house price in the form of spatially and textually.

scholarly journals Determinants of the Price of Housing in the Province of Alicante (Spain): Analysis Using Quantile Regression

2019 ◽  
Vol 11 (2) ◽  
pp. 437 ◽  
Author(s):  
Raul-Tomas Mora-Garcia ◽  
Maria-Francisca Cespedes-Lopez ◽  
V. Raul Perez-Sanchez ◽  
Pablo Marti ◽  
Juan-Carlos Perez-Sanchez
Keyword(s):  
Multivariate Analysis ◽  
Quantile Regression ◽  
Ordinary Least Squares ◽  
Hedonic Pricing ◽  
Average Price ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
Adequate Funding ◽  
The Impact ◽  
The Relationship

After almost a decade of crisis, the housing market in Spain shows significant signs of recovery, with increases in both the average price and the number of sales transactions. Housing is the main asset for the majority of households, and it also has the most resources devoted to it, thus, when it comes to buying a residence, people do not only look at the asset’s intrinsic characteristics, but also consider other particularities such as the neighbourhood, accessibility to services, availability of public transport or adequate funding. The study aimed to analyse and quantify the relationship that exists between the asking price of second-hand housing on the market in Alicante and the attributes that characterise them. This was done using a multivariate analysis to estimate a hedonic pricing model by ordinary least squares and a quantile regression to analyse the impact of the characteristics in different price ranges. The results show the segmentation of the prices in the Alicante market, with higher prices in the northern coastal area over the southern and inland comarcas.

Comprehensive Pricing Model of Urban Traffic Air Pollution Based on Bi-Level Programming

2012 ◽  
Vol 253-255 ◽  
pp. 1913-1917
Author(s):  
Ze Bin Zhao
Keyword(s):  
Air Pollution ◽  
Negative Impact ◽  
Urban Traffic ◽  
Vehicle Speed ◽  
Pricing Model ◽  
The Sustainable Development ◽  
Transport Services ◽  
Relationship Model ◽  
The Relationship

In order to reduce the negative impact of urban traffic air pollution, this paper firstly analyzes the relationship between urban traffic air pollution and vehicle speed, after providing the relationship model, the paper establishes a comprehensive pricing model of urban traffic air pollution based on bi-level programming, the model considers the traffic air pollution pricing, and includes the factors of congestion pricing, bus fee, pricing revenue redistribution on improvement of public transport services and the expansion of road capacity. The case study shows that the implementation of comprehensive pricing of urban traffic air pollution can reduce traffic pollution and unreasonable traffic flow, which is conducive to the sustainable development of the city.

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