We estimate the pricing efficiency of a livestock auction market using two-tier stochastic frontier model. This model captures inefficiency hedonic for via exponential error terms above and below specification. The direction inefficiencies, whether or model, represent surplus transfer from buyers to sellers buyers, respectively. Using data 7-year period in market, we found that on average extra...

This study empirically examines the role of conventional and end-use wheat quality characteristics as well transportation costs on pricing U.S. hard red winter (HRWW) utilizing a hedonic price analysis framework, detailed characteristic data location matched data. We find evidence that multiple (milling baking) have statistically significant economically important effect HRWW. suggests that, al...

Sharing economy-based accommodations has grown dramatically worldwide. Given the crucial role of pricing, academics have used hedonic methods to estimate a large number implicit prices and accommodation characteristics. It is now time question our estimation methods. Based on methodological literature, this article outlines five proposals improve model performance: extended specification attrib...

Abstract This article examines the spatially varying effect of age on single-family house (SFH) prices. Age has been shown to be a key driver for depreciation and is usually associated with negative price effect. In practice, however, there exist deviations from this behavior which are referred as vintage effects. We estimate coefficients (SVC) model investigate spatial structures effects SFH p...

The primary objective of this research is to estimate the willingness pay in Ghana for reliable piped water services. Three competing economic valuation approaches are used do this: contingent method (CVM), hedonic pricing (HPM) and travel cost (TCM). These methods allow easy robustness tests estimates serves as an improvement on previous research. Using survey data from a sample 1,650 urban ho...

The adoption of bus rapid transit (BRT) systems has gained worldwide popularity over the past several decades. China is no exception as it long been aiming at promoting public transportation. Prior studies have provided extensive evidence that BRT substantial effects on house prices with traditional econometric techniques, such hedonic pricing models. However, few those investigations discussed...

This study fills a void in the literature by providing the first evaluation of the impact of consumer ratings on beer prices using hedonic methods. Our work is based on a dataset consisting of over 400 beers and includes information on calorie content, alcohol content, user rating, and style for each beer. Our results indicate that a 10-point increase in consumer rating is associated with about...

A large and detailed data set is used to examine the influence of airports and airport light paths on housing prices. The results indicate that individuals consider airport proximity and airport flight patterns in their housing purchases. This shows that there exist two distinct measurable price gradients that distinguish large airports from small airports. In addition, homes located under the ...