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Journal articles on the topic 'Model of hedonic prices'

Author: Grafiati

Published: 4 June 2021

Last updated: 11 February 2022

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1

Lisi, Gaetano. "Income capitalisation method and hedonic model: an integrated approach." Journal of Property Investment & Finance 37, no. 3 (2019): 289–300. http://dx.doi.org/10.1108/jpif-11-2018-0088.

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Purpose The purpose of this paper is to provide an integrated approach that combines the two methods usually used in the real estate appraisals, namely, the income capitalisation method and the hedonic model. Design/methodology/approach In order to pull out the link between the income capitalisation approach and the hedonic model, the standard hedonic price function is introduced into the basic model of income capitalisation instead of the house market value. It follows that, from the partial derivative, a direct relation between hedonic prices and discount rate can be obtained. Finally, by us

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Donoso, Guillermo, and Guillermo Vicente. "A hedonic price model of Argentinean land prices." Ciencia e investigación agraria 28, no. 2 (2001): 73–81. http://dx.doi.org/10.7764/rcia.v28i2.437.

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Gong, Yunlong, and Jan de Haan. "Accounting for Spatial Variation of Land Prices in Hedonic Imputation House Price Indices: a Semi-Parametric Approach." Journal of Official Statistics 34, no. 3 (2018): 695–720. http://dx.doi.org/10.2478/jos-2018-0033.

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Abstract Location is capitalized into the price of the land the structure of a property is built on, and land prices can be expected to vary significantly across space. We account for spatial variation of land prices in hedonic house price models using geospatial data and a semi-parametric method known as mixed geographically weighted regression. To measure the impact on aggregate price change, quality-adjusted (hedonic imputation) house price indices are constructed for a small city in the Netherlands and compared to price indices based on more restrictive models, using postcode dummy variabl

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Fregonara, Elena, Diana Rolando, and Patrizia Semeraro. "Energy performance certificates in the Turin real estate market." Journal of European Real Estate Research 10, no. 2 (2017): 149–69. http://dx.doi.org/10.1108/jerer-05-2016-0022.

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Purpose The purpose of this paper is to assess the impact of the Energy Performance Certificate (EPC) on the Italian real estate market, focusing on old buildings. The contribution of EPC labels to house prices and to market liquidity was measured to analyze different aspects of the selling process. Design/methodology/approach A traditional hedonic model was used to explain the variables of listing price, transaction price, time on the market and bargaining outcome. In addition to EPC labels, the building construction period and the main features of apartments were included in the model. A sam

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Du Preez, Mario, and Michael Sale. "Municipal assessments versus actual sales prices in hedonic price studies." Journal of Economic and Financial Sciences 8, no. 1 (2015): 35–46. http://dx.doi.org/10.4102/jef.v8i1.82.

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In most hedonic price model studies, the actual sales price of a property is employed as the dependent variable in the parametric regression analysis. Although the use of this price is pervasive, alternatives to it do exist. One such alternative is the assessed property value, which is more readily available than the actual property price. The aim of this study is to compare implicit price estimates of property characteristics (both structural and locational) based on actual sales price data and assessed property values. To this end, a seemingly unrelated regression with two hedonic price equa

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Park, Na-Hee, and Hong-Bumm Kim. "Analysis of American wine prices using Hedonic price model." Korean Journal of Hospitality & Tourism 27, no. 7 (2018): 179–98. http://dx.doi.org/10.24992/kjht.2018.10.27.07.179.

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Gu, Guangtong. "Hedonic Price Ripple Effect and Consumer Choice: Evidence from New Homes." Journal of Advanced Computational Intelligence and Intelligent Informatics 22, no. 6 (2018): 809–16. http://dx.doi.org/10.20965/jaciii.2018.p0809.

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This study uses the hedonic price model to examine the determinants of house prices. It employs kernel density to estimate the spatial weight matrix and conducts spatial econometrics and instrumental variables quantile regression analysis. Taking a new building in Shanghai city as an example, this micro-perspective study shows that hedonic prices of houses are derived from consumer hedonic preferences and their changes in terms of inertia and spatial ripple effects. However, there are large differences in the drivers of the same hedonic attribute across quantile degrees. With house prices grad

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Dority, Bree L., Dayna Larreau, and Frank Tenkorang. "Hedonic Price Analysis of Non-Barren Broodmares." Review of Economic and Business Studies 9, no. 2 (2016): 61–75. http://dx.doi.org/10.1515/rebs-2016-0034.

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AbstractThe current real average selling price of a thoroughbred broodmare is nearly half its peak value in 2000. While annual price changes are influenced by economic performance, different prices at an auction are influenced by physical and genetic characteristics of broodmares. We use auction data from the 2013 November Keeneland Breeding Stock Sales to estimate a hedonic pricing model. We find prices are positively influenced by earnings of the covering sire, earnings of the broodmare, pedigree, and the racing performance of broodmare progeny. Conversely, the age of a broodmare and the day

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Gu, Guangtong, and Bing Xu. "Housing Market Hedonic Price Study Based on Boosting Regression Tree." Journal of Advanced Computational Intelligence and Intelligent Informatics 21, no. 6 (2017): 1040–47. http://dx.doi.org/10.20965/jaciii.2017.p1040.

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Based on the purchase price data of new real estate markets three cities in China, Beijing, Shanghai, and Guangzhou, including architectural features, neighborhood property features, and location features, in this study a boosting regression tree model was built to study the factors and the influence path of housing prices from the microcosmic perspective. First, a classical hedonic price model was constructed to analyze and compare the significant effect factors on housing prices in the market segments of the three cities. Second, the gradient boosting regression tree method that is proposed

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Hannonen, Marko. "AN ANALYSIS OF LAND PRICES: A STRUCTURAL TIME‐SERIES APPROACH." International Journal of Strategic Property Management 9, no. 3 (2005): 145–72. http://dx.doi.org/10.3846/1648715x.2005.9637534.

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This paper analyses spatio‐temporal variation of land prices in two single localities by means of structural time series modelling formalism that combines the flexibility of a time series model with that of the interpretation of a regression analysis. The extension of conventional hedonic models by introducing unobserved components for trend and cycle resulted to significant improvements in their post‐sample predictive accuracy. In predictive testing, for most model formulations the unobserved component approach generated only a marginal average prediction error when compared to the orthodox h

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Phipps, A. G. "Households' Utilities and Hedonic Prices for Inner-City Homes." Environment and Planning A: Economy and Space 19, no. 1 (1987): 59–80. http://dx.doi.org/10.1068/a190059.

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The housing-consumption preferences of a sample of inner-city owner-occupants in Saskatoon are recovered from their unconstrained residential preferences for housing and neighbourhood types. These unconstrained utilities are quantitatively compared with implicit prices for the same housing and neighborhood types, computed from a hedonic housing price model. A first finding is that the households preferred the levels of eight of the twelve residential attributes that were also the higher priced. In contrast, a second finding was that their unconstrained utilities were negatively monotonically r

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Reydon, Bastiaan Philip, Ludwig Einstein Agurto Plata, Gerd Sparovek, Rafael Guilherme Burstein Goldszmidt, and Tiago Santos Telles. "Determination and forecast of agricultural land prices." Nova Economia 24, no. 2 (2014): 389–408. http://dx.doi.org/10.1590/0103-6351/1304.

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The aim of this study is to discuss and apply hedonic methodology for the determination and forecast of land prices in specific markets. This is important due to the fact that there is no official or reliable information in Brazil on current prices in land market transactions. This hedonic price methodology uses a multiple regression model which has, as an explanatory variable, the price per hectare and independent variables related to physical attributes (soil, climate and terrain), production (systems of production, location, access), infrastructure of the property and expectations (regional

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Espinet-Rius, Josep Maria, Modest Fluvià-Font, Ricard Rigall-Torrent, and Anna Oliveras-Corominas. "Cruise tourism: a hedonic pricing approach." European Journal of Management and Business Economics 27, no. 1 (2018): 101–22. http://dx.doi.org/10.1108/ejmbe-11-2017-0053.

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Purpose The purpose of this paper is to examine the effect on price of different cruise industry characteristics from the point of view of actual prices. The analysis is carried out from the supply side but taking into account the real prices paid by customers. Design/methodology/approach This paper uses the hedonic price methodology. To develop this research, a database of more than 36,000 prices paid by cruise passengers and different characteristics of ships in 2013 was built. To obtain the results, ten models have been developed with significant adjusted R2 of between 0.85 and 0.93 making

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Niklas, Britta, and Wolfram Rinke. "Pricing Models for German Wine: Hedonic Regression vs. Machine Learning." Journal of Wine Economics 15, no. 3 (2020): 284–311. http://dx.doi.org/10.1017/jwe.2020.16.

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AbstractThis article examines whether there are different hedonic price models for different German wines by grape variety, and identifies influential factors that focus on weather variables and direct and indirect quality measures for wine prices. A log linear regression model is first applied only for Riesling, and then machine learning is used to find hedonic price models for Riesling, Silvaner, Pinot Blanc, and Pinot Noir. Machine learning exhibits slightly greater explanatory power, suggests adding additional variables, and allows for a more detailed interpretation of results. Gault&M

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15

Brown, Jeff E., and Don E. Ethridge. "Functional Form Model Specification: An Application to Hedonic Pricing." Agricultural and Resource Economics Review 24, no. 2 (1995): 166–73. http://dx.doi.org/10.1017/s1068280500008807.

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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 structu

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Karato, Koji, Oleksandr Movshuk, and Chihiro Shimizu. "Semiparametric Model of Hedonic Housing Prices in Japan." Asian Economic Journal 29, no. 4 (2015): 325–45. http://dx.doi.org/10.1111/asej.12077.

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Rosson, Sara, and Lorenzo Zirulia. "A hedonic price model for ski lift tickets in the Dolomites." Worldwide Hospitality and Tourism Themes 10, no. 2 (2018): 222–35. http://dx.doi.org/10.1108/whatt-12-2017-0082.

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Purpose Different, alternative or complementary strategies have been advanced for the rejuvenation of the ski tourism product, thus favoring its economic and environmental sustainability. This paper aims to provide new suggestions by looking at the determinants of ski lift ticket prices in the Dolomites. Design/methodology/approach The paper uses a hedonic price model approach, which allows the identification of the relative importance of different attributes on the determination of a product price. Findings The model shows that a higher level of investment in modern lifts and snowmaking equip

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Carini, Manuela, Marina Ciuna, Manuela De Ruggiero, Francesca Salvo, and Marco Simonotti. "Repeat Assessed Values Model for Housing Price Index." Real Estate Management and Valuation 25, no. 4 (2017): 25–39. http://dx.doi.org/10.1515/remav-2017-0027.

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Abstract This study proposes an innovative methodology, named Repeat Appraised Price Model (RAV), useful for determining the price index numbers for real estate markets and the corresponding index numbers of hedonic prices of main real estate characteristics in the case of a lack of data. The methodological approach proposed in this paper aims to appraise the time series of price index numbers. It integrates the principles of the method of repeat sales with the peculiarities of the Hedonic Price Method, overcoming the problem of an almost total absence of repeat sales for the same property in

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Supavitarn, Pacharaporn, and Apichaya Lilavanichakul. "Factors Determining the Prices of Thai silk: A Hedonic Price Analysis." KnE Life Sciences 4, no. 2 (2018): 204. http://dx.doi.org/10.18502/kls.v4i2.1673.

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This paper aims to analyze factors determining the prices of Thai silk products by using the hedonic price model. A quantitative and qualitative approach were used to obtain the data of silk products. Findings from statistical estimated coefficients indicated that many factors were importance to Thai silk producers and related to consumers willing to pay for a premium price for some attributes. The results showed that the location of retail store, types of business model, and online distribution channel were factors affecting to price setting with a positive impact. The negative factors determ

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Eastwood, David B., John R. Brooker, and Danny E. Terry. "Household Nutrient Demand: Use of Characteristics Theory and a Common Attribute Model." Journal of Agricultural and Applied Economics 18, no. 2 (1986): 235–46. http://dx.doi.org/10.1017/s0081305200006282.

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AbstractA characteristics model, which assumes goods generate a common set of attributes but no unique attribute, is described. The model yielded two equations which were estimated. One was a set of hedonic price equations in which the price paid for each food purchased was a function of imputed attribute prices. This set of equations was estimated at the household level. Nutrient demand equations were estimated across households. Imputed prices, income, and household characteristics including location, size, education, age distribution, and race affected nutrient demand levels.

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DEACONU, Adela, Dorina LAZAR, Anuta BUIGA, and Gheorghe FATACEAN. "MARGINAL PRICES OF IMPROVEMENTS MADE TO BLOCKS OF FLATS: EMPIRICAL EVIDENCE FROM ROMANIA." International Journal of Strategic Property Management 20, no. 2 (2016): 156–71. http://dx.doi.org/10.3846/1648715x.2015.1121415.

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This paper examines a specific segment of the housing markets from Central and Eastern European countries, namely the stock of flats in the urban area. With focus on Romania, we emphasize the improvements made by owners and authorities, aimed to enhance the quality of life and the maintenance of old blocks of flats; are highlighted some aspects regarding the cost of these improvements. In addition, the empirical section investigates whether and to what extent the improvements made to the flats and buildings have a significant effect on sale prices and rental prices. The marginal prices of thes

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Roos, Anders. "A hedonic price function for forest land in Sweden." Canadian Journal of Forest Research 26, no. 5 (1996): 740–46. http://dx.doi.org/10.1139/x26-083.

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A hedonic price model was employed to analyze prices for forest land in Sweden, which is primarily used for timber production. The investigation was based on 143 sales in 1992, and the independent variables describe the conditions for profitable forest management. Estimates were performed using the Box–Cox transformed specification and likelihood ratio tests. The results indicate a positive relationship between the per-hectare price of forest land and (1) the proportion of productive forest land in relation to the total forest area on the estate, (2) the mean standing volume, and (3) the mean

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23

Saptutyningsih, Endah. "Impact Of Air Pollution On Property Values: A Hedonic Price Study." Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan 14, no. 1 (2013): 52. http://dx.doi.org/10.23917/jep.v14i1.150.

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The main purpose of this study is the calculation of implicit prices of the environmental level of air quality in Yogyakarta on the basis of housing property prices. By means of Geographical Information System, the housing property prices characterized from the area which have highest air pollution level in province of Yogyakarta. Carbon monoxide is used as the pollution variable. The methodological framework for estimation is based on a hedonic price model. This approach establishes a relationship between the price of a marketable good (e.g. housing) and the amenities and characteristics this

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Veloso,, Merlita, and Jose Alkuino. "Demand for Sweetpotato Quality Using the Hedonic Price Model in Northwestern Leyte." Science and Humanities Journal 3, no. 1 (2003): 1–15. http://dx.doi.org/10.47773/shj.1998.031.1.

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Research conducted to estimate implicit prices of sweetpotato using the Hedonic Price Model revealed that consumers attach economic importance to sweetpotato quality. Both urban and rural consumers were responsive to changes in quality characteristics. The price paid by rural consumers is affected significantly by age of consumers and quality charactersitics such as color, shape and starch content. The price paid by urban consumers is strongly influenced by color, shape, protien, starch, sugar and fiber content of sweetpotatoes. Among income classes, low income consumers were more discriminati

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Jones, Larry E. "The Characteristics Model, Hedonic Prices, and the Clientele Effect." Journal of Political Economy 96, no. 3 (1988): 551–67. http://dx.doi.org/10.1086/261551.

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Owusu-Ansah, Anthony, and Raymond Talinbe Abdulai. "Producing hedonic price indices for developing markets." International Journal of Housing Markets and Analysis 7, no. 4 (2014): 444–58. http://dx.doi.org/10.1108/ijhma-08-2013-0047.

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Purpose – The purpose of this paper is to test the accuracy of the explicit time variable (ETV) and the strictly cross-sectional (SCS) hedonic models when constructing house price indices in developing markets using Ghana as a case study. Design/methodology/approach – The quantitative research methodology is adopted where the accuracy of the two hedonic models used in the construction of house price indices is examined using the mean squared error (MSE) and out-of-sample technique. Yearly indices are constructed for each of the models using 60 per cent of the sample data and 40 per cent is use

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Reichel, Vlastimil, and Petr Zimčík. "Determinants of Real Estate Prices in the Statutory City of Brno." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 66, no. 4 (2018): 991–99. http://dx.doi.org/10.11118/actaun201866040991.

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The real estate market demand for both‑houses and flats has been growing recently. This trend is one of the factors, which are able to influence the price of real estate. Our paper introduces determinants of housing price and their influence on actual real estate prices in the statutory city of Brno. The aim of this paper is to present key determinants of house price and find the hedonic price model, which describes, how determinants affect house price best. Realized prices were analyzed for housing units located in different districts of Brno. Key determinants in this research are a year of s

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Del Giudice, Vincenzo, Benedetto Manganelli, and Pierfrancesco De Paola. "Hedonic Analysis of Housing Sales Prices with Semiparametric Methods." International Journal of Agricultural and Environmental Information Systems 8, no. 2 (2017): 65–77. http://dx.doi.org/10.4018/ijaeis.2017040105.

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This study estimates a hedonic price function using a semiparametric regression based on Penalized Spline Smoothing, and compares the price prediction performance with conventional parametric models. The excellent results obtained show that the semiparametric models allow to obtain a significant improvement in the prediction of housing sales prices.

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Li, Sheng, Yi Jiang, Shuisong Ke, Ke Nie, and Chao Wu. "Understanding the Effects of Influential Factors on Housing Prices by Combining Extreme Gradient Boosting and a Hedonic Price Model (XGBoost-HPM)." Land 10, no. 5 (2021): 533. http://dx.doi.org/10.3390/land10050533.

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The characteristics of housing and location conditions are the main drivers of spatial differences in housing prices, which is a topic attracting high interest in both real estate and geography research. One of the most popular models, the hedonic price model (HPM), has limitations in identifying nonlinear relationships and distinguishing the importance of influential factors. Therefore, extreme gradient boosting (XGBoost), a popular machine learning technology, and the HPM were combined to analyse the comprehensive effects of influential factors on housing prices. XGBoost was employed to iden

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Woestenburg, Alexander, Erwin van der Krabben, and Tejo Spit. "Institutions in rural land transactions." Journal of European Real Estate Research 7, no. 2 (2014): 216–38. http://dx.doi.org/10.1108/jerer-01-2014-0005.

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Purpose – This article aims at analysing the different institutional aspects of the rural land market that are manifest at the transactional level. Second, it answers the question whether including these aspects in a land price model increases the understanding of rural land market outcomes. Institutional economics scholars have challenged the limited institutional behaviour of conventional land market models. Despite their research methods remaining primarily qualitative, research findings suggest that we should look at institutional aspects to understand land and real estate market outcomes

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Wang, Wen-Ching, Yu-Ju Chang, and Hsueh-Ching Wang. "An Application of the Spatial Autocorrelation Method on the Change of Real Estate Prices in Taitung City." ISPRS International Journal of Geo-Information 8, no. 6 (2019): 249. http://dx.doi.org/10.3390/ijgi8060249.

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The main purpose of this paper is to use regression models to explore the factors affecting housing prices as well as apply spatial aggregation to explore the changes of urban space prices. This study collected data in Taitung City from the year 2013 to 2017, including 3533 real estate transaction price records. The hedonic price method, spatial lag model and spatial error model were used to conduct global spatial self-correlation tests to explore the performance of house price variables and space price aggregation. We compare the three models by R² and Akaike Information Criterion (AIC) to de

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HANSEN, CHARLOTTE R., and C. JILL STOWE. "DETERMINANTS OF WEANLING THOROUGHBRED AUCTION PRICES." Journal of Agricultural and Applied Economics 50, no. 1 (2017): 48–63. http://dx.doi.org/10.1017/aae.2017.19.

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AbstractDeterminants of prices of 1,302 weanling Thoroughbreds sold at the 2010 Keeneland November Breeding Stock Sale are investigated. A hedonic pricing model is adopted to identify price determinants, and the corresponding marginal values of those determinants are estimated. Prices were responsive to pedigree quality variables, including the sire's stud fee, the stage of the sire's breeding career, and whether the dam or the dam's progeny had earned “black type.” In addition, individual weanling characteristics such as gender, age, state of birth, and sale placement influenced price. Result

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Keskin, Berna. "HEDONIC ANALYSIS OF PRICE IN THE ISTANBUL HOUSING MARKET." International Journal of Strategic Property Management 12, no. 2 (2008): 125–38. http://dx.doi.org/10.3846/1648-715x.2008.12.125-138.

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The purpose of this paper is to explore the factors that affect housing prices in Istanbul. A hedonic price model is employed in order to examine housing price determinants with respect to property characteristics, socio‐economic characteristics, neighbourhood quality characteristics, and locational factors. The results reveal that housing prices are affected by these factors: living area size, being in a low storey building, being in a secured site (with swimming pool and garage), and age of the building. In addition to these determinants, the length of time the inhabitants have lived in Ista

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Bishop, Kelly C., and Alvin D. Murphy. "Estimating the Willingness to Pay to Avoid Violent Crime: A Dynamic Approach." American Economic Review 101, no. 3 (2011): 625–29. http://dx.doi.org/10.1257/aer.101.3.625.

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The hedonic model, which has been used extensively in the Environmental, Urban, and Real Estate literatures, allows for the estimation of the implicit prices of housing and neighborhood attributes, as well as households' demand for these non-marketed amenities. A recognized drawback of the existing hedonic literature is that the models assume a myopic decision-maker. In this paper, we estimate a dynamic hedonic model and find that the average household is willing to pay $472 per year for a ten percent reduction in violent crime. In addition, we find that the traditional, myopic model suffers f

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Pakes, Ariel. "A Reconsideration of Hedonic Price Indexes with an Application to PC’s." American Economic Review 93, no. 5 (2003): 1578–96. http://dx.doi.org/10.1257/000282803322655455.

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This paper compares hedonic to matched model indexes. Matched model indexes are averages of the price changes of goods that remain on sampled stores’ shelves. Since goods that disappear tend to have falling market values, matched model indexes select from the right tail of price changes. The BLS can construct hedonic indexes that correct for this selection and are justified by standard arguments. In an empirical study of PC’s hedonics produce sharp price declines while matched model indexes are near zero. Also, though there are modifications to hedonics that seem desirable, they are not those

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SELİM, Sibel. "Determinants of House Prices in Turkey : A Hedonic Regression Model." Doğuş Üniversitesi Dergisi 1, no. 9 (2008): 65–76. http://dx.doi.org/10.31671/dogus.2019.223.

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Kostov, Philip. "A Spatial Quantile Regression Hedonic Model of Agricultural Land Prices." Spatial Economic Analysis 4, no. 1 (2009): 53–72. http://dx.doi.org/10.1080/17421770802625957.

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Martinez, Steve W. "Hedonic analysis of US fresh produce prices at direct-to-consumer sales outlets versus competing retailers." British Food Journal 118, no. 7 (2016): 1665–81. http://dx.doi.org/10.1108/bfj-05-2015-0183.

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Purpose – The purpose of this paper is to compare prices for fresh tomatoes, potatoes, peppers, and apples at direct-to-consumer sales outlets (e.g. farmers markets, roadside stands, on-farm stores) in the USA to grocery stores and supercenters, while controlling for other attributes. Design/methodology/approach – The author estimates a hedonic regression model to determine price differences at direct sales outlets, grocery stores, and supercenters in various regions and seasons of the year. The analysis is conducted using 2006 Nielsen Homescan data. Other product and market attributes are als

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Humavindu, Michael Nokokure, and Jesper Stage. "Hedonic pricing in Windhoek townships." Environment and Development Economics 8, no. 2 (2003): 391–404. http://dx.doi.org/10.1017/s1355770x0300202.

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This study applies the hedonic pricing model to property sales in the township areas in Windhoek, the capital city of Namibia, where municipal authorities have pursued a programme of selling plots of land to settlers in order to encourage them into a formalized economic situation. We find that, apart from house quality, access to the central business district, access to marketplaces and access to transportation, environmental quality also has a large impact on property prices. Properties located close to a garbage dump sell at considerable discounts, while properties located close to a combine

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Chen, Hong, Zhongsheng He, Wei Hong, and Jinfu Liu. "An Assessment of Stumpage Price and the Price Index of Chinese Fir Timber Forests in Southern China Using a Hedonic Price Model." Forests 11, no. 4 (2020): 436. http://dx.doi.org/10.3390/f11040436.

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Research Highlights: Stumpage price is the most important factor affecting the value of forests. Therefore, an understanding of the factors affecting stumpage prices and trends is critical for effective forest management. Background and Objectives: Chinese fir is the most important fast-growing timber species in China, it is also the tree species with the largest trading volume in the stumpage markets of Southern China. The aim of this study was to analyze the determinants and trends of stumpage prices for Chinese fir timber forests. Materials and Methods: Data on 928 sales of Chinese fir timb

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Cui, Nana, Hengyu Gu, Tiyan Shen, and Changchun Feng. "The Impact of Micro-Level Influencing Factors on Home Value: A Housing Price-Rent Comparison." Sustainability 10, no. 12 (2018): 4343. http://dx.doi.org/10.3390/su10124343.

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The housing sales market in China has flourished and gained considerable interest, while the housing rental market has lagged behind and been ignored over the past two decades. With the acceleration of urbanization, the housing rental demand is rising rapidly. Exploring and comparing the influencing factors on housing sale prices and rental prices has significance for sustainable urban planning and management. Using house purchase transaction and rent transaction data in 2017, as well as the average housing price and rent data in 2016 in Beijing, China, this paper compares the spatial distribu

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Espinet, J. M., M. Saez, G. Coenders, and M. Fluvià. "Effect on Prices of the Attributes of Holiday Hotels: A Hedonic Prices Approach." Tourism Economics 9, no. 2 (2003): 165–77. http://dx.doi.org/10.5367/000000003101298330.

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This article examines the effect on price of different characteristics of holiday hotels in the sun-and-beach segment. The effect on price is estimated under the hedonic function perspective by means of random effect models, known also as mixed or panel models. Some 82,000 prices were gathered between 1991 and 1998 from tour operator catalogues. The study reveals huge price differences between 4-star hotels and the rest, coupled with practically no difference between 1-star and 2-star hotels. Other attributes with a significant effect on price are town, hotel size, distance to the beach and av

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Thanasi (Boçe), Marsela. "Hedonic appraisal of apartments in Tirana." International Journal of Housing Markets and Analysis 9, no. 2 (2016): 239–55. http://dx.doi.org/10.1108/ijhma-03-2015-0016.

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Purpose The approved methodology of property valuation in Albania evaluates the reference property prices based on the average contractual price of properties sold and takes into account only factors such as price, square meters of living and location of property. Simple method is the one used on evaluating the reference price for a group of properties with similar characteristics. The purpose of this study is, by building a hedonistic pricing model for apartments in Tirana, to prove empirically that in addition to location, there are other characteristics that affect the value of apartments.

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Slaboch, Josef, and Lukáš Čechura. "Land Pricing Model: Price Re-evaluation Due to the Erosion and Climate Change Effects." Agris on-line Papers in Economics and Informatics 12, no. 4 (2020): 111–21. http://dx.doi.org/10.7160/aol.2020.120408.

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The aim of this study is to derive and apply the hedonic approach for determining and updating official land prices with respect to e.g. the impact of climate change that has occurred in the conditions of the Czech Republic in recent years. Pricing using the hedonic method is based on capturing individual factors separately. The evaluated soil ecological unit code consists of a 5-digit numerical code, which expresses the affiliation to the climate region (0-9, see table 1), the main soil unit (0-78), the slope of the land and the orientation to the point of the compass (0-9) and also the depth

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Curto, Rocco, Elena Fregonara, and Patrizia Semeraro. "Listing behaviour in the Italian real estate market." International Journal of Housing Markets and Analysis 8, no. 1 (2015): 97–117. http://dx.doi.org/10.1108/ijhma-01-2014-0003.

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Purpose – The main purpose of this paper is to explore the listing behaviours of agents and sellers. In particular, the paper analyzes listing prices and the predicting power of the house features described in advertisements, to improve their use in real estate valuations. In Italy, selling prices are not public information and therefore listing prices play a key role for market analyses and are used by real estate companies and appraisers for estimating house values. Design/methodology/approach – A traditional hedonic model was used to measure the overall contribution to listing price of the

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Clark, Stephen, Nick Hood, and Mark Birkin. "A hedonic model of the association between grocery brand provision and residential rental prices in England." International Journal of Housing Markets and Analysis 14, no. 4 (2021): 680–700. http://dx.doi.org/10.1108/ijhma-05-2020-0062.

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Purpose This study aims to measure the association between local retail grocery provision and private residential rental prices in England. Renting is an important sector of the housing market in England and local grocery provision is an important aspect of service provision and consumers are known to be highly sensitive to the branding of this type of retailing. Design/methodology/approach This research uses a novel data source from a property rental Web platform to estimate a hedonic model for the rental market. These models incorporate information on the nature of the properties and their n

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Lee, Hyejin, Byoungkil Lee, and Sangkyeong Lee. "The Unequal Impact of Natural Landscape Views on Housing Prices: Applying Visual Perception Model and Quantile Regression to Apartments in Seoul." Sustainability 12, no. 19 (2020): 8275. http://dx.doi.org/10.3390/su12198275.

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Natural landscape views have positive sides, such as providing restorative effects to urban residents, and negative sides, such as deepening wealth inequality. Previous studies have mainly focused on the positives and rarely on the negatives. From this perspective, this study aimed to analyze the unequal impact of natural landscape views on housing prices for apartments in Seoul. We proposed a visual perception model to analyze natural landscape views and, based on a hedonic price model, we used ordinary least squares and quantile regression to estimate the marginal impacts on housing prices.

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Lisi, Gaetano. "Property valuation: the hedonic pricing model – location and housing submarkets." Journal of Property Investment & Finance 37, no. 6 (2019): 589–96. http://dx.doi.org/10.1108/jpif-07-2019-0093.

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Purpose The purpose of this paper is to comment upon the use of hedonic pricing models for the valuation of property. This model can be particularly useful for some housing markets. Design/methodology/approach This Education Briefing is an explanation of the how hedonic pricing can be useful in looking at the effect of “location” on the house prices within different submarkets using the Italian real estate market as an example. Findings Although, this case study is relatively straightforward, it shows how the application of the market approach can provide insights in cases where the comparable

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Alves, Denisard Cneio de Oliveira, Joe Akira Yoshino, Paula Carvalho Pereda, and Carla Jucá Amrein. "Modelagem dos Preços de Imóveis Residenciais Paulistanos." Brazilian Review of Finance 9, no. 2 (2011): 167. http://dx.doi.org/10.12660/rbfin.v9n2.2011.2899.

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Hedonic modeling has become a benchmark for pricing real assets with several intrinsic characteristics. This work tests also others dimensions for asset pricing: the quality of life in the housing neighborhood and macroeconomic variables. The data is about the real estate market in São Paulo city from January 2001 to March 2008. The main results were: the longer the maturity of mortgage financing, the larger the housing price, but decreasing interest rate spread stimulate the real estate market, and the interactions between the dummy for the boom period and either housing characteristics or ba

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Kompa, Krzysztof, and Dorota Witkowska. "Construction Of Hedonic Price Index For The “Most Liquid” Polish Painters." Folia Oeconomica Stetinensia 14, no. 2 (2014): 76–100. http://dx.doi.org/10.1515/foli-2015-0004.

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Abstract Art market has been developing in Poland and the first Art Fund was established in 2011. Therefore it seems that investment in art can be considered as alternative form by Polish investors. In order to decide whether art is a good investment, it is necessary to evaluate expected returns which might be obtained from such investment thus an art price index should be developed. The aim of the paper is to discuss artworks as investment assets and evaluate price index of paintings produced by 11 Polish artists whose artworks were traded the most often on auctions that were held in Poland i

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