The paper develops a quality adjusted professional sports franchise price index for North America based on a repeat sale method. This index reflects trends in the general price of sports franchises holding local market, facility, and team characteristics constant. The price index exhibits considerable volatility but no upward trend over time, unlike previous quality adjusted price indexes based...

We investigate the effects of various quality attributes and network-specific features on the price of word processing software using a hedonic price framework in order to assess the effect of the network variable on the quality-adjusted price. We find a positive effect of network externalities on price in this market that is similar to markets for spreadsheet and web server software as shown p...

We estimate a hedonic model of the housing market that includes a spline surface defined on geospatial data (i.e., the longitudes and latitudes of individual dwellings). House price indexes are then obtained by imputing prices for individual dwellings from the hedonic model and then inserting them into the Fisher price index formula. Using data for Sydney, Australia we compare the performance o...

In an earlier paper, Goodman and Thibodeau [Journal of Housing Economics 7 (1998) 121] examined housing market segmentation within metropolitan Dallas using hierarchical models (Hierarchical Linear Models: Applications and Data Analysis Methods, Sage, Newbury Park, 1992) and single-family property transactions over the 1995:1 – 1997:1 periods. Their preliminary results suggested that hierarchic...

A number of hedonic property pricing studies of flood risk indicate that properties within a designated higher flood risk zone sell for a lower price than an equivalent property outside of it. However, often the homes most at flood risk are also the most desirable in terms of their proximity to the water, and this concurrent existence of positive water-related amenities and negative flood risk ...

A hedonic equation considers OLS models with independently and identically distributed errors. However, quality of property and location tend to exhibit highly autoregressive correlation due to spatial dependence and heterogeneity. A modiŽ cation is made to multiple regression analysis based on the land-rent concept so that the modiŽ ed hedonic house price function can be determined. This paper...

A number of hedonic property pricing studies of flood risk indicate that properties within a designated higher flood risk zone sell for a lower price than an equivalent property outside of it. However, often the homes most at flood risk are also the most desirable in terms of their proximity to the water, and this concurrent existence of positive water-related amenities and negative flood risk ...

T existence and persistence of price dispersion for identical products in online markets have been welldocumented in the literature. Possible explanations of this price dispersion, derived mainly using hedonic price models, have seen only modest success. In this paper, we propose a competitive model based on online retailers’ differentiation mainly in service provided and recognition enjoyed to...

Accessibility is one of the major determinants of housing price. To model housing price, many urban researchers have adopted the method of hedonic analysis. The main question addressed in this paper is: Are the existing hedonic price models adequate in capturing the effect of accessibility? In most of these models, accessibility is represented by rather simplistic measures, such as "distance-to...

The Energy Star program is the most prominent energy efficiency policy in the United States. Using data on residential clothes washers, we examine the price premium for the Energy Star label. A standard hedonic analysis reveals a number of confounding factors, including a large price premium for front loading washers. A regression discontinuity design reveals no significant price premium. Addit...