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Estimation of the Hedonic Pricing Function for Housing Units (A Case Study of Hashtgerd New Town, Iran)
H. Sanjari
International Business Management , 2012, DOI: 10.3923/ibm.2012.676.679
Abstract: The price of a housing unit, as a heterogeneous and multidimensional commodity, is a function of the physical, environmental and locational characteristics. In this regard, this research was conducted to study the factors that influence the price of residential properties in Hashtgerd New Town (35° 34'48' N, 50° 26'24' E). The information required for this study was gathered from 416 households in Hashtgerd New Town. The housing pricing function was estimated by applying the Hedonic Pricing Model based on Ordinary Least Squares (OLS) method. The findings suggest that the most significant features of a housing unit include gross floor area, type of housing unit, stone facade, land area, number of rooms, number of floors and unit s distance from down town and park. Among these variables, gross floor area, type of housing unit (in terms of being a villa or an apartment) and stone facade with 0.60, 0.42 and 0.25 rates of elasticity, respectively have had the greatest positive impact on setting the price of a housing unit.
HEDONIC PRICE FUNCTION ESTIMATION FOR MOBILE PHONE IN IRAN  [cached]
Sayed Mahdi Mostafavi,Somaye Sadat Roohbakhsh,Mehdi Behname
International Journal of Economics and Financial Issues , 2013,
Abstract: The aim of this paper is the survey of mobile price determinants by hedonic model. We have applied the hedonic price model for mobile phone market in Iran in the year of 2008. The brands conclude NOKIA, QTEK, HTC, MOTOROLA, SONY ERICSSON and SAMSUNG that comprise 193 types of handset mobile phone. The results show that in the hedonic function, the maximum amount of parameters of hedonic price function related to the following variables respectively: touch screen, hands free and connectivity tools, and the minimum amount of them are belonged to clarification of monitor images, phone volume and phone memory. Moreover, except Motorola brand the type of brand has not a significant parameter in the hedonic price function.
Regularity properties of optimal transportation problems arising in hedonic pricing models  [PDF]
Brendan Pass
Mathematics , 2011,
Abstract: We study a form of optimal transportation surplus functions which arise in hedonic pricing models. We derive a formula for the Ma-Trudinger-Wang curvature of these functions, yielding necessary and sufficient conditions for them to satisfy \textbf{(A3w)}. We use this to give explicit new examples of surplus functions satisfying \textbf{(A3w)}, of the form $b(x,y)=H(x+y)$ where $H$ is a convex function on $\mathbb{R}^n$. We also show that the space of equilibrium contracts in the hedonic pricing model has the maximal possible dimension, a result of potential economic interest.
Nonlinear hedonic pricing: a confirmatory study of South African wines  [cached]
Priilaid DA,van Rensburg P
International Journal of Wine Research , 2012,
Abstract: David A Priilaid1, Paul van Rensburg21School of Management Studies, 2Department of Finance and Tax, University of Cape Town, Republic of South AfricaAbstract: With a sample of South African red and white wines, this paper investigates the relationship between price, value, and value for money. The analysis is derived from a suite of regression models using some 1358 wines drawn from the 2007 period, which, along with red and white blends, includes eight cultivars. Using the five-star rating, each wine was rated both sighted and blind by respected South African publications. These two ratings were deployed in a stripped-down customer-facing hedonic price analysis that confirms (1) the unequal pricing of consecutive increments in star-styled wine quality assessments and (2) that the relationship between value and price can be better estimated by treating successive wine quality increments as dichotomous “dummy” variables. Through the deployment of nonlinear hedonic pricing, fertile areas for bargain hunting can thus be found at the top end of the price continuum as much as at the bottom, thereby assisting retailers and consumers in better identifying wines that offer value for money.Keywords: price, value, wine
The pricing and valuation of swaps  [PDF]
Jelena Paunovi?
Singidunum Journal of Applied Sciences , 2013,
Abstract: Swaps are financial agreements between two parties to exchange period cash flows and are mostly used as a tool for hedging risk and speculation. They are derivative contracts that derive their value from an underlying asset (the most common underlying assets are the interest rates in the plain vanilla case, but it can be almost anything). These OTC products (over the counter) are traded directly between the two parties or with a financial institution acting as an intermediary. Some banks in Serbia already offer these derivative instruments, but the markets are still in an emerging phase. The private sector is severely affected by credit and interest rate risk which currently lacks sufficient knowledge and understanding of such products and their importance. This paper aims to present and demystify the structure of these financial derivatives by presenting their valuation methods and by showing how they are used in practice. Ultimately, we shall discuss the credit risk the counterparties are facing in developed financial markets nowadays.
Nonlinear hedonic pricing: a confirmatory study of South African wines
Priilaid DA, van Rensburg P
International Journal of Wine Research , 2012, DOI: http://dx.doi.org/10.2147/IJWR.S28321
Abstract: nlinear hedonic pricing: a confirmatory study of South African wines Original Research (2264) Total Article Views Authors: Priilaid DA, van Rensburg P Published Date March 2012 Volume 2012:4 Pages 1 - 13 DOI: http://dx.doi.org/10.2147/IJWR.S28321 Received: 17 November 2011 Accepted: 07 December 2011 Published: 23 March 2012 David A Priilaid1, Paul van Rensburg2 1School of Management Studies, 2Department of Finance and Tax, University of Cape Town, Republic of South Africa Abstract: With a sample of South African red and white wines, this paper investigates the relationship between price, value, and value for money. The analysis is derived from a suite of regression models using some 1358 wines drawn from the 2007 period, which, along with red and white blends, includes eight cultivars. Using the five-star rating, each wine was rated both sighted and blind by respected South African publications. These two ratings were deployed in a stripped-down customer-facing hedonic price analysis that confirms (1) the unequal pricing of consecutive increments in star-styled wine quality assessments and (2) that the relationship between value and price can be better estimated by treating successive wine quality increments as dichotomous “dummy” variables. Through the deployment of nonlinear hedonic pricing, fertile areas for bargain hunting can thus be found at the top end of the price continuum as much as at the bottom, thereby assisting retailers and consumers in better identifying wines that offer value for money.
Considerations regarding the Valuation and Valorization of Cultural Heritage  [PDF]
Filip IORGULESCU,Felicia ALEXANDRU,Georgiana Camelia CRE?AN,Meral KAGITCI
Theoretical and Applied Economics , 2011,
Abstract: This paper presents the theoretical framework for the valuation of cultural heritage and of the economic effects produced by investments in the preservation and restoration of cultural heritage. The following methods are considered: impact studies, hedonic pricing method, contingent valuation method and travel cost method. The paper focuses on methodological issues, difficulties encountered when implementing the methods, as well as on their specific limitations. Moreover, each method is illustrated through the results of quantitative studies in the field.
Evaluation of Irrigation Water Price Addition on Productivity of Agriculture Section in Iran (Case: Kashan Region)
Mohsen Tarafdar
Open Access Library Journal (OALib Journal) , 2015, DOI: 10.4236/oalib.1101207
Abstract: The shortage of irrigation water is one of the most important problems which Iran is facing. Irrigation water pricing is one of the economic approaches to manage irrigation water consumption and using it efficiently. This study purpose is to evaluate the effect of irrigation water price induction on productivity of agriculture section in Iran (case: Kashan). This study is an application development in terms of objective and a post-event in terms of the study design, and is descriptive in terms of conclusion. The study results show that during study period (2006-2010), irrigation water price has risen in Kashan region. But this leads not only to increasing average cultivated land per a farmer, but also to increasing crops and garden products’ monetary productivity. It means that Iranian government can use irrigation water price induction as a tool for increasing productivity in agriculture section in Iran. In addition, crops and garden products have different productivities. Results also show that dill and apricot have the highest productivity in all crops and garden product in the region respectively.
Estimation of Irrigation Water Demand for Barley in Iran: The panel Data Evidence  [cached]
Ahmad Sadeghi,Mohd Ghazali B Mohayidin,Md. Ariff Bin Hussein,Jalal Attari
Journal of Agricultural Science , 2010, DOI: 10.5539/jas.v2n2p31
Abstract: In most arid and semi arid regions, as in most parts of Iran, insufficient supply of water has become one of the most important constraints to economic development. In these areas, the main issue in water management is to fulfill the ever-increasing demand for water. The supply of water is usually limited, while the quantity of water demanded has increased mainly due to population growth. It is believed that a rationalized water pricing system would play a crucial role in the optimal allocation of water resources. Planning for efficient use of water is important when there is a severe limit to its availability. The demand elasticity for every good, service, or input determines how a change in price, ceteris paribus, affects users’ quantity demanded. This study investigates the structure of irrigation water demand by estimating the derived demand for water on one particular crop, barley, in Iran. The analysis is based on deductive econometric method, and on total statistical and panel data. A demand function was estimated after performing the relevant statistical tests. The price elasticity of irrigation water demand and other elasticities were also computed. Data and information from 2001 to 2006 from 26 provinces in Iran was collected from secondary sources.
IRRIGATION WATER PRICING AND COST RECUPERATION FOR SUSTAINABILITY OF IRRIGATION PROJECTS IN NYANYADZI, ZIMBABWE  [PDF]
Ephraim Chifamba,Takupiwa Nyanga,Simbarashe Gukurume
Russian Journal of Agricultural and Socio-Economic Sciences , 2013,
Abstract: Water pricing and recuperation of the costs of irrigation investment have been litigious issues for many decades in the dry area of Nyanyadzi because the community view irrigation as a development expenditure, financed by donors and the government for backward areas through lowering of food prices and reduction of tariffs. The soaring charges for irrigation water are questioned, as well as, the diminutive percentage of farmers who fundamentally recompense the charges. The failure to institute clear cost recuperation and water pricing methods has threatened the viability and sustainability of irrigation projects in the study area. The study used both qualitative and quantitative research methodologies. The study revealed that where the economy is usually subsidized, convalesce the cost of water delivery is much more complicated and difficult. In the case of establishing user fees, these should be estimated as a percentage of the "traditional user's capability for payment" derived from irrigation benefits (the net increase in farmers' income as a result of irrigation). Nyanyadzi has an opportunity in irrigation led development, if stakeholders address critical challenges in the planning, design, water delivery and maintenance of its irrigation systems. Since Nyanyadzi faces severe budgetary difficulties in financing irrigation projects, it is obligatory to consider the foundation on which irrigation projects operate and impose the principle of self sustaining. Sustainable methods of irrigation evaluation and collection of fees must be considered in light of Nyanyadzi's economic and technical environment. The research noted that water use efficiency is required in order to maximize the benefits farmers derive from the irrigation projects and extraordinarily high user fees should be avoided in the project development stages, where the payment capability is much less at the beginning than at the maturity stages of irrigation projects.
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