the study investigates consumers’ preference for cowpea reflected in the nigerian markets through price discounts and premiums that consumers pay for different cowpea characteristics. the price data used for this study were obtained through a market survey. a common data collection protocol was employed. every month, between october 2009 to december 2010, five cowpea samples per seller were bou...

This paper adopts the hedonic price theory to analyze the relation between quality and price in the mobile telephony market during 1996-2002 in France. We address several questions. We first develop quality-adjusted price indexes for the whole period. We find that price index decline at about 14% from 1997 to 1999 while on the remaining period the price decrease tends to flatten. Then, using es...

abstract this paper sketches a model of product differentiation according to the hedonic hypothesis that is based on the theory of consumer behavior of lancaster (1971). lancaster suggested that utility is derived from the characteristics of the good and not the good itself. thus, from the perception of the consumer, every characteristic has a price. this is the hedonic (or implicit) price. we ...

Suppose two Matisse paintings with identical characteristics were put up for sale. However, one of the paintings had previously been sold in a “hot” market for a high price and the other had been sold in a “cold” market for a low price. Would the painting that previously sold in the “hot” market fetch a higher price at auction? Anchoring is one of the most powerful and well-established biases i...

A hedonic price function for wine is estimated using Swedish data, 1989-91. Implicit prices for quality attributes are determined not from a regression of variety price on a vector of quality attributes, but rather from a regression of quantity sold (adjusted for weeks of availability) on price and quality attributes. Such a ‘reduced form’ is justified by the assumption that prices and attribut...

The study investigates consumers’ preference for cowpea reflected in the Nigerian markets through price discounts and premiums that consumers pay for different cowpea characteristics. The price data used for this study were obtained through a market survey. A common data collection protocol was employed. Every month, between October 2009 to December 2010, five cowpea samples per seller were bou...

;. Current thought is that the most appropriate method for determining the value of life or of reduced risk of injury is through estimation of a revealed market value individuals place on risk. That theory assumes that risk is transacted in the market in the form of wage premiums workers receive for engaging in higher risk jobs. Hedonic price estimation techniques have been used to estimate tha...

This paper explores the sorting process in response to differing levels of aviation noise exposure in a housing market. Spatiotemporal Hedonic Pricing (HP) and Stated Choice (SC) results reflect nonlinearities and stigma. The HP models reveal nonlinear noise depreciation increasing from 0.40 to 2.38 percent per decibel as noise increases, while the SC noise values are lower in an area with high...

The paper highlights the importance of design in product innovation, using portable computers as an empirical case study. This is an attempt to redress the balance in the innovation and product technology literature, which has overwhelmingly focused on hardware technologies (technical characteristics) of products. Principal components analysis is used to identify clusters of design characterist...