Pricing football transfers using video gaming data

Using a hedonic property price approach, we estimate the amenity value associated with proximity to habitats, designated areas, domestic gardens and other natural amenities in England. There is a long tradition of studies looking at the effect of environmental amenities and disamenities on property prices. But, to our knowledge, this is the first nationwide study of the value of proximity to a large number of natural amenities in England. We analysed 1 million housing transactions over 1996–2008 and considered a large number of environmental characteristics. Results reveal that the effects of many of these environmental variables are highly statistically significant, and are quite large in economic magnitude. Gardens, green space and areas of water within the census ward all attract a considerable positive price premium. There is also a strong positive effect from freshwater and flood plain locations, broadleaved woodland, coniferous woodland and enclosed farmland. Increasing distance to natural amenities such as rivers, National Parks and National Trust sites is unambiguously associated with a fall in house prices. Our preferred regression specifications control for unobserved labour market and other geographical factors using Travel to Work Area fixed effects, and the estimates are fairly insensitive to changes in specification and sample. This provides some reassurance that the hedonic price results provide a useful representation of the values attached to proximity to environmental amenities in England. Overall, we conclude that the housing market in England reveals substantial amenity value attached to a number of habitats, designations, private gardens and local environmental amenities.

A class of differentiated products is completely described by a vector of objectively measured characteristics. Observed product prices and the specific amounts of characteristics associated with each good define a set of implicit or "hedonic" prices. A theory of hedonic prices is formulated as a problem in the economics of spatial equilibrium in which the entire set of implicit prices guides both consumer and producer locational decisions in characteristics space. Buyer and seller choices, as well as the meaning and nature of market equilibrium, are analyzed. Empirical implications for hedonic price regressions and index number construction are pointed out.

9 - The Hedonic Price Approach to Measuring Demand for Neighborhood Characteristics

Aim of study: Focused on the coffee sector, the purpose of this paper was to determine the implicit price paid for the main sustainability certifications (Fairtrade, Organic, Rainforest Alliance and UTZ certifications) using the hedonic price approach. Area of study: Spain. Material and methods: The total sample included 645 coffees. The characteristics were collected between the months of September and October 2021 from coffee packs sold in the main five supermarkets of retail chains in Spain. A log-log price/attribute function was used to estimate the hedonic price function. Main results: The attributes UTZ certification, origin, and coffee intensity received significant positive effects leading to higher premium prices of 28.51%, 25.50% and 26.50%, respectively. In contrast, Fairtrade certifications had a negative impact on the average price of coffee. Research highlights: The proposed model could be considered as a first approximation of a hedonic pricing model estimation for sustainable coffee in Spain. The results provide useful information for the coffee sector in developing effective marketing strategies that support the sustainability of food.

The stumpage price changes were calculated and analyzed from the data collected by Timber Mart-South from 1998 to 2007. We analyzed the relationship between pine sawtimber stumpage prices and timber sale characteristics using hedonic pricing method. Quadratic transformation was employed for sale size and contract length. Stumpage prices increased with sale size, contract length, bid sales, and the number of bidders. The presence of above average or excellent grade, market conditions, and logging conditions also are positively related to stumpage prices.Key Words: stumpage prices, hedonic pricing method, timber-marth-south, timber sale characteristics Received: February 26, 2014. Revised: September 25, 2014. Accep ted: September 29, 2014.Corresponding author: Hojung KimThe Forest Center of Climate Change, Korea Forest Research Inst itute, Seoul 130-712, Republic of KoreaTel: 82-2-961-2888, Fax: 82-2-961-2879, E-mail: hojung.kim.17@gmail.com Introduction Forest landowners often need access to current timber market information because they need to know what they have and how to sell it. Since timber markets basically de-pend on the supply and demand, timber buyers and sellers need up-to-date timber market information such as market trends and trade news. However, it is not an easy task to predict timber price (Mei et al. 2010). Timber market is a function of the relationship between timber and a variety of factors, such as wood consumption, wood supply, pro-duction technology, finished product demand, and stum-page prices, and also the change in timberland ownership may have had a significant influence on timber markets (TMS 2009). Delivered prices include harvesting, trans-portation, and other markups above the stumpage price, and fuel costs and distances to mills will have effect on transportation costs, where wood quality and tract size are the main factors concerning harvest costs (TMS 2009). The hedonic price method is an approach which most commonly uses regression analysis to estimate the implicit values of characteristics from a value of commodity price (Rosen 1974). In the process of manufacturing, some pro-duction inputs could be diverse and have significantly dif-ferent characteristics. In such cases, a hedonic pricing ap-proach is suitably employed for estimating the implicit pri-ces of the various characteristics of an input and the de-mand for the input subsequently (Ladd and Martini 1976). Thus, a hedonic model can be used to explain production factors or the prices of differentiated products. This he-donic price approach has been adapted to timber markets with heterogeneous inputs such as species composition, tree size, volume, and quality based on the assumption that such characteristics affect the lumber production (Puttock et al.

The Baseball Players' Labor Market

Coastal erosion and inundation represent the main impacts of climate change and the consequential sea level rise (SLR) on beaches. The resultant deterioration of coastal habitats and decline in beach tourism revenue has been a primary concern for coastal managers and researchers. Nevertheless, the extent of SLR on beach tourism in Egypt remains relatively unknown. Therefore, this study investigates the relationship between beach width shrinkage due to SLR and the loss in tourist resort revenue. We use the hedonic pricing approach, which combines economic and environmental variables, to determine the environmental impact on beach tourism along 14 km of the coast of Sahl Hasheesh and Makadi Bay, Hurghada, Egypt. The resort revenue depends on the cumulative benefits from the market price of the resort rooms, which is a function of morphological variables and tourism variables. Three regression models (semi-log, double-log, and custom-log) were used to select the most appropriate functional hedonic model. Three coastal slopes were considered (0.03, 0.06, and 0.12) to address the uncertainty in beach width. When 0.06 coastal slope is used, the expected losses in revenue are 84,000, 220,000, and 546,000 USD/day period (representing 3%, 7%, and 18%) for 2030, 2050, and 2100, respectively, considering the lowest scenario representative concentration pathway (RCP2.6); for the worst case (RCP8.5 SLR), the expected losses are 142,000, 369,000, and 897,000 USD/day period (representing 5%, 12%, and 30%) for 2030, 2050, and 2100, respectively.

This article investigates price effects of nutritional claims (NC) and health claims (HC), in addition to other attributes, on yoghurts in the Spanish market. Prices and product characteristics are collected from yoghurt label references found on the shelves of the main representative retail shops in the capital city of Aragon (Zaragoza) Spain. The total sample included 508 yoghurts. Nutritional and health claims (NHCs) are selected based on the official definitions of the (EC) Regulation No 1924/2006 and No 432/2012. Premium prices of the NHCs and other attributes included were assessed through a hedonic price approach. Results show that yoghurt is a highly differentiated food product. NCs related to fat-free, low in sugar and fiber content did not affect yoghurt prices while most of the health claims received significant positive effects. Health claims outperform nutritional claims leading to higher premium prices. These findings are a useful source in a better understanding of the evolution of NHCs in the Spanish market. Our findings suggest that NCs accompanied by the corresponding HC, which exactly defines the benefits of that nutrient in our health may be a promising strategy for product differentiation.

(1988). Product differentiation in the newspaper industry: an hedonic price approach. Applied Economics: Vol. 20, No. 3, pp. 367-376.

One of the main climate-related disasters in Yogyakarta, Indonesia, is landslides, which result in slope degradation through soil loss. The largest number of landslides was recorded in Kulonprogo regency. In the Samigaluh sub-district, where recent landslides resulted in the biggest number of displaced persons, this study seeks to determine the economic impacts of landslides. For this investigation, we used primary data gathered using a questionnaire. The systematic random sampling was utilized to choose households in the villages. The study uses a total of 300 residential households that were interviewed in landslide prone area of Samigaluh sub-district of Kulonprogo, Indonesia. The age of building, number of rooms, and building size as structural characteristic has correlation with property price, respectively. As shown by the hedonic pricing approach’s finding, there is a positive association between property price and the distance to landslide point as characteristic of neighborhood. The distance to the river was also have impact on the property price. More frequent the landslide, higher the property price. The findings of this study can assist property owners in understanding the elements that contribute to property devaluation as a result of landslides. Since landslides are a serious issue for real property owners, this study also suggests that landslide insurance programs be developed.

This study investigates the price effects of honey quality attributes in Spain. Price and product characteristics are collected from 264 honey labels found on the shelves of the main representative retail stores available in the national territory. The marginal effects and the implicit prices of honey characteristics are assessed through a hedonic price approach. Results show that the prices of honey are affected by leader brands sold in gourmet stores and hypermarkets in glass packages compared to producer brands sold in discounts stores and supermarkets in plastic packages. The organic production and the protected designation of origin quality labels generate positive marginal effects on the prices of honey, as well. Regarding the origin of honey, the highest relative and absolute consumer price premiums are received for honey coming from the European Union and Spain compared with blend honey coming from EU and non‐EU countries. Consumer implicit prices are also influenced by mono‐floral and gourmet honey with additional properties (e.g., ginseng) compared with the multifloral varieties. These findings are a useful source for a better understanding of the evolution of honey in the Spanish market. Spanish beekeepers who can differentiate their honey, may use these results as an orientation for their business strategies.

Bottles of water vary in price with some priced as if they were bottles of fine wine. This article attempts to explain price differences between over 100 bottled waters included in a guidebook to fine waters by drawing on the hedonic pricing approach, which has been used to try to explain price differences among bottles of wine. As part of that approach, the price of each bottled water is regressed against various characteristics, including those related to its water. Water-related characteristics explain only a small part of the price differences among the bottled waters. Thus, to a large extent, the premium that consumers pay for a more expensive bottled water does not seem to be a premium for its water. (JEL Classifications: C21, Q25)

The price, quality and distribution of mortgage payment protection insurance: A hedonic pricing approach

The housing market is consisted of sub-markets that give it segmented structure and it exhibits heterogeneous characteristic due to both immovable and durableness of houses and their different structural, location and neighborhood characteristics from each other. Accordingly, each sub-market has different pricing structure owing to different supply and demand conditions of each individual market. Therefore, price estimation process for houses are rather difficult. However, Hedonic Pricing Approach especially used in pricing of products in heterogeneous markets that enables calculation of marginal impacts of individual characteristics on price of products and facilitates house pricing process. During investigation of the relationship between real estate prices and their characteristics, spatial effects are required to be taken into consideration which are significant determinant in house prices. Spatial effects can be presented as spatial autocorrelation and spatial heterogeneity. Whereas spatial dependency among house prices, which arise as a result of adjacency effect are described as spatial autocorrelation, variation in relationship between house prices and their characteristics based on the segmented structure of the housing market are described as spatial heterogeneity. Therefore during investigation of the relationship between house prices and their characteristics, there is need for models which allow relationships to vary according to locations and which consider spatial dependency in house prices. While Non-Parametric Spatial Models are appropriate for the standing need, the OLS Regression Model or Parametric Spatial Models do not take spatial effects into consideration because of their limiting assumptions. The present paper aims to have better understanding on demand side of the Istanbul Real Estate Market by investigating marginal effects of various characteristics of 2838 houses from 39 counties, which are assumed to represent Istanbul Real Estate Market through Non-Parametric Spatial Models based on Hedonic Pricing Approach in the period of October-December 2013. The results obtained from estimation through Non-parametric Spatial Models revealed that the relationship between house prices and their characteristics is differentiated for each sub-market and that there is non-linear relationship between house prices and spatial characteristics.

Mortgage payment protection insurance (hereafter MPPI) provides varying combinations of accident, sickness and unemployment insurance and is used to protect the mortgage payments of policyholders in the event of a fall in income. Recently the provision of this service in the UK has been heavily criticized for providing poor value for money and for being associated with unhelpful sales techniques especially when sold jointly with a mortgage. Consequently in 2009 the Competition Commission ruled that MPPI should not be sold jointly with lending. In this study we examine whether this prohibition was justified and specifically does the form of distribution, either jointly with the mortgage or independently influence the premium levels. This research question is examined using a hedonic pricing approach with details and premiums of 281 MPPI policies. We conclude that the premiums of policies sold independently are lower than those policies distributed jointly for a given set of benefits and conditions. These findings support to the prohibition of the joint sale of the MPPI with mortgages.