Hedonic Method Research Articles

Hedonic Price Methods and Real Estate Price Index: an Explanatory Study for Apartments Market in Belo Horizonte, Brazil, from 2004 to 2015

Brazil does not have an official real estate price index yet. A 2011 presidential decree stipulated for the Brazilian Institute of Geography and Statistics (IBGE) the assignment to create and spread a real estate price index for Brazil. In this paper, we test some different hedonic model methods to estimate quarterly price indices for apartments in Belo Horizonte, Brazil, from January 2005 to December 2015. Our goals are: i) to measure and compare the different hedonic methods; ii) to present some results that will contribute to the discussion about the development of an official real estate price index in Brazil. The empirical results corroborate the idea of intense apartment prices valuation in Belo Horizonte, mainly between 2007 and 2011, when the annual price index growth remained above 20%. These results cast light on the potential use of both hedonic methods and administrative data base to construct an official real estate price index for Brazil.

Examining the characteristics of social and behavior change communication intervention costs in low- and middle-income countries: A hedonic method approach.

Understanding the costs of health interventions is critical for generating budgets, planning and managing programs, and conducting economic evaluations to use when allocating scarce resources. Here, we utilize techniques from the hedonic pricing literature to estimate the characteristics of the costs of social and behavior change communication (SBCC) interventions, which aim to improve health-seeking behaviors and important intermediate determinants to behavior change. SBCC encompasses a wide range of interventions including mass media (e.g., radio, television), mid media (e.g., community announcements, live dramas), digital media (e.g., short message service/phone reminders, social media), interpersonal communication (e.g., individual or group counseling), and provider-based SBCC interventions focused on improving provider attitudes and provider-client communication. While studies have reported on the costs of specific SBCC interventions in low- and middle-income countries, little has been done to examine SBCC costs across multiple studies and interventions. We use compiled data across multiple SBCC intervention types, health areas, and low- and middle-income countries to explore the characteristics of the costs of SBCC interventions. Despite the wide variation seen in the unit cost data, we can explain between 63 and 97 percent of total variance and identify a statistically significant set of characteristics (e.g., health area) for media and interpersonal communication interventions. Intervention intensity is an important determinant for both media and interpersonal communication, with costs increasing as intervention intensity increases; other important characteristics for media interventions include intervention subtype, target population group, and country income as measured by per capita Gross National Income. Important characteristics for interpersonal communication interventions include health area, intervention subtype, target population group and geographic scope.

Constructing Building Price Index Using Administrative Data

Abstract Improving the accuracy of deflators is crucial for measuring real GDP and growth rates. However, construction prices are often difficult to measure. This study uses the stratification and hedonic methods to estimate price indices. The estimated indices are based on the actual transaction prices of buildings (contract prices) obtained from the Statistics on Building Starts survey information from the administrative sector in Japan. Compared with the construction cost deflator (CCD), calculated by compounding input costs, the estimated output price indices show higher rates of increase during the economic expansion phase after 2013. This suggests that the profit surge in the construction sector observed in that period is not fully reflected in the CCD. Furthermore, the difference between the two “output-type” indices obtained by stratification and hedonic methods shrinks when the estimation methods are precisely configured.

Innovation in Railway Investment Financing Through The Land Value Capture Earmarks Scheme

The government of Indonesia is currently working to improve infrastructure, with a particular focus on the railway sector, in order to make transportation more accessible and affordable for all citizens. Therefore, this study aims to determine the reliability of alternative financing for the Land Value Capture (LVC) scheme, especially through earmarks (land tax increase). This scheme is very interesting to examine due to its great implementation potential in Indonesia. In this study, the primary data were obtained from direct measurements in the field of information derived from accessibility factors. Meanwhile, the secondary data were in the form of land price data in the NJOP (Tax Object Sale Value), as well as site structure, and its environment. From this context, the land price forecasting model used the Hedonic method developed into a Log-Log equation and was analyzed by using multiple regression statistical techniques with iterations, to obtain the best model. The LVC calculation also used the calculation formula for Land and Building Tax (PBB), as stated in Governor of Jakarta Regulation No. 77 of 2014. Based on the results, the development stage of the land price forecasting model showed that the independent variables with the most significant contribution (α 0.005) were dominated by accessibility-related factors. In the residential, office, and commercial areas, the maximum increase in land value ranged from IDR 696.8 thousand/m2-IDR 30.5 million/m2, IDR 1.25 million/m2-IDR 41.4 million/m2, and IDR 595.9 thousand/m2-IDR 24.4 million/m, respectively. These estimations were observed with an average increase in the earmarks of all stations at 39.84%. Regarding the initial year of the project operation, the LVC value also obtained the maximum coefficient of the tax difference scheme from 21 stations at IDR 471,941,540,397/year.

House of the rising sun: The effect of utility-scale solar arrays on housing prices

While utility-scale solar energy is important for reducing dependence on fossil fuels, solar arrays use significant amounts of land (about 5 acres per MW of capacity) and may create local land use disamenities. This paper seeks to quantify the externalities from nearby solar arrays using the hedonic method. We study the states of Massachusetts and Rhode Island, which have high population densities and ambitious renewable energy goals. Using difference-in-differences, repeat sales identification strategies, results suggest that houses within 0.6 miles depreciate 1.5–3.6% following construction of a solar array. However, additional analysis reveals that this average effect is primarily driven by solar developments on farm and forest lands and in rural areas, which is intuitive given the composite impact of solar, loss of open space, and loss of rural character. For these states, the local disamenities are the same order of magnitude as the global benefits of abated carbon emissions, which helps explain local opposition to siting.

National expenditures on local amenities

We develop a framework for estimating Americans' implicit expenditures on spatially varying nonmarket amenities. We focus on location-specific factors that affect the quality of life but are not formally traded. Examples include climate, geography, pollution, local public goods, and transportation infrastructure. Households pay for residential access to these amenities indirectly, through housing prices, wages and property taxes. We construct a database of 75 amenities, match it to 5 million households' location choices, and use hedonic methods to estimate their total amenity expenditures. Our benchmark estimate for the year 2000 is $562 billion--equivalent to 8% of Americans’ personal consumption expenditures.

Research on the Ecological and Economic Impacts of Rising Sea Levels on Mangroves in Southern Florida in the Context of Climate Change

The decline in mangrove ecosystems is a major contributor to the loss of biodiversity, extra carbon release, and local economic instability, particularly in tropical coastal regions that are constantly influenced by climate changes. Despite the importance of the mangroves, there is limited research investigating the consequences. Under the context, this research examines the correlation between mangrove density, sea level rise, and economic impacts in Southern Florida. The work aims to address three main questions: (i) what are the ecological impacts of sea level rising on mangroves density; (ii) what are the economic implications of mangrove loss; (iii) what extent of government intervention should be imposed on the environmental problem. The research presents a two-variable graph that examines the relationship between mangrove density in Southern Florida and sea level rise, analyzing its overall correlation in the Caribbean region. Another correlation study of the impacts of mangrove loss on local tourism is created and set as the focus. The conventional hedonic method is applied as the tool of evaluating mangroves value. The results demonstrate a close negative correlation between sea level and mangrove density, and a positive correlation of mangroves density and local tourism.

Sorbet Made from Moringa Leaves and Red Guava as an Alternative for the Management of Iron Deficiency Anemia in Adolescent Girls

Moringa leaves (Moringa oleifera) contain high iron (Fe) but low bioavailability of Fe because it contains calcium and tannins. Vitamin C in red guava fruit (Psidium guajava) can increase Fe absorption. Sorbet made from red guava and Moringa leaves can be an alternative to overcome iron deficiency anemia in adolescent girls. This study aims to analyze the level of acceptance, levels of Fe, Ca, vitamin C, and tannins, as well as the bioavailability of Fe sorbet made from red guava and Moringa leaves. Sorbet consists of 5 formulas including, F1 (strawberry sorbet), F2 (red guava sorbet), F3 (Moringa leaf sorbet), F4 (red guava sorbet + 18% Moringa leaves), and F5 (red guava sorbet + 22% Moringa leaves). Acceptance level was tested with the hedonic method (appearance, smell, taste, and texture) and statistically analyzed using Friedman and Wilcoxon test. The Fe and Ca were analyzed using X-Ray Fluorescence (XRF) method, vitamin C and tannins were analyzed using High-Performance Liquid Chromatography (HPLC) and spectrophotometry methods. Fe bioavailability test was performed using the inverted bowel bag method. The level of preference for each attribute was significantly different (p < 0.05). The level of preference chosen was F2. The mean levels of Fe, Ca, vitamin C, and tannins in F4 were 0.95 ± 0.14, 5.91 ± 0.73, 26.29 ± 0.13, and 135.65 ± 0.91 mg/100 g. The mean levels of Fe, Ca, vitamin C, and tannins in F5 were 0.21 ± 0.29, 6.03 ± 0.67, 46.72 ± 0.69, and 87.76 ± 0.40 mg/100 g. The highest Fe bioavailability was F5 while the lowest was F3. The best formula based on the parameters of preference, Fe, Ca, vitamin C, and tannin levels, as well as Fe bioavailability, was sorbet F5.

Integrasi Metode Kano dan Turf dalam Evaluasi Sensori Minuman Cokelat Instan Komersial

Sensory attribute is one of quality parameter that affects buying intention of consumer for commercial instant chocolate drink product. Evaluation of consumer liking using hedonic method or ideal profile method was not enough to fulfill consumer satisfaction. This research aims to identify sensory attributes which are able to give consumer satisfaction using survey method integrated with structural equation model (SEM), Kano method, and total unduplicated reach and frequency (TURF). Kano method is used to evaluate sensory attributes based on consumer satisfaction, while TURF is used to identify sensory component which is able to increase buying intention of consumers with regard to the range and frequency for chocolate instant commercial drink. Preliminary research conducted by modelling consumer preferences suggested that there was an influence of 0.76 sensory attributes to consumer satisfaction. Seven samples were purchased from market and evaluated by 30 untrained panelists using home use test with an approach of consumer habit to consume hot chocolate drink once a week. The panelists were chosen from people who consume commercial instant chocolate drink. Results of this research showed that sensory attributes creamy (texture) and dark chocolate (color) were attractive features which were able to improve consumer satisfaction. Atribute sweet (taste) was categorized as must-be features, while flavor, aroma, and color were classified as one-dimensional features. Combination of attributes in one category can improve the range to reach the targeted consumers and frequency of consumers towards the product, for example attribute creamy can reach 97%, but combination of attributes creamy and thickness can reach 100% of the targeted consumers.

The study of effects of investment in urban development plans on real estate prices in Tehran

The issue of housing prices and its sharp rise has always been one of the most challenging issues for households and the government. On the other hand, municipalities, especially large municipalities, consider urban development as one of their main missions. What effect this investment in infrastructure and development projects will have on housing prices is important not only at the local level but also at the national level. The effect of investments in urban development plans on housing prices in Tehran is the subject of this study. The main purpose of this study is to investigate the effect of investment in infrastructure and urban services on increasing housing prices in 22 districts of Tehran. In other words, this study seeks to answer the scientific question of how much the difference in changes in relative housing prices in the 22 districts of Tehran is affected by this factor. Method used in the research The hedonic method and the variables used are three groups of variables that affect the price of housing in the city, which include physical or intrinsic variables of housing, environmental variables of housing and space variable. Due to the existence of spatial self-correlation and the results of Moran 1 test, the hedonic model has been estimated using the space factor. The results show that the effect of environmental variables is more than intrinsic variables and the variable of the share of the road network of the total area of ​​neighborhoods has the greatest impact on the price of residential units in Tehran.

Production of Cocoa Pulp Syrup by Utilizing Local Sugar Sources

The pulp of the cocoa fruit still has not economically viable yet. Its potency to be processed into fruit syrup is expected to increase its value added. Local sugar from palm and canes is still traditionally utilized to produce brown sugar. This study aimed to make fruit syrup by utilizing cocoa pulp and local sugar sources in West Sumatra with several variants (palm sugar, sugarcane, and market white sugar). The effects of sugar concentration on the quality of the syrup were also studied. Sensory evaluation by the hedonic method was performed and statistical analysis data were carried out using SPSS. Microbiological analysis and shelf-life testing also have been done. The results of this study showed that respondents preferred syrup with palm sugar to sugarcane because of its light brown color and distinctive sweetness. The microbiological test reported that the syrup could only be consumed for less than the 5th day in a sealed glass bottle if it was placed at room temperature. Meanwhile, the syrup placed in the refrigerator (5 0C) could keep until the 5th day

Enrichment of Doogh with Olive Leaf Extract and Investigation of Its Physicochemical, Microbial, and Sensory Properties during Storage at Room Temperature and Refrigerator

Doogh is a popular Iranian drink with high nutritional value and in recent years has attracted the attention of many consumers. Nowadays, the problems caused by malnutrition and lack of useful compounds with high nutritional value and increasing shelf life are essential in the food industry. This research was performed in Shirin Cheshmeh Dairy Production Company and all experiments were performed in the Food Control Laboratory of the Food and Drug Administration, Guilan University of Medical Sciences. In this study, olive leaf extract was added to doogh at five levels of zero, 0.2, 0.5, 1, and 2% and stored for 45 days, its physicochemical, microbial, and sensory properties at two refrigerators at 2°C and room temperature 25 ° C were evaluated. Sampling was analyzed on days 0, 15, 30, and 45 days in 3 replications with Duncan's statistical analysis. The effect of using different treatments and storage time on most characteristics showed a significant difference. This study showed that the effect of olive leaf extract on the pH, mold, and yeast of the treatments is decreasing and the percentage of acidity and serum volume is increasing. According to the hedonic method, the acceptability of treatment 2 on the 15th day of maintenance was higher. In general, according to the results, it can be said that the production of useful products with plant compounds can promote an effective step to produce and design useful drinks in the consumer market and food industry factories.

The Effect of κ-Carrageenan Proportion and Hot Water Extract of the Pluchea indica Less Leaf Tea on the Quality and Sensory Properties of Stink Lily (Amorphophallus muelleri) Wet Noodles.

The study aims to determine the effect of the proportion of κ-carrageenan and the hot water extract of pluchea leaf tea on the quality and sensory properties of stink lily wet noodles. The research design is a randomized block design with two factors, i.e., the difference in the proportion of κ-carrageenan (K) (0, 1, 2, and 3% w/w) and the addition of the hot water extract of the Pluchea indica Less leaf tea (L) (0, 15, and 30% w/v), with 12 treatment levels (K0L0, K0L1, K0L2, K1L0, K1L1, K1L2, K2L0, K2L1, K2L2, K3L0, K3L1, K3L2). The data are analyzed by the ANOVA at p < 5% and continued with the Duncan’s multiple range test at p < 5%, and the best treatment was determined by the spider web method based on sensory assay by a hedonic method. The proportions of κ-carrageenan and the concentration of pluchea tea extract had a significant effect on the cooking quality and sensory properties. However, the interaction of the two factors affected the swelling index, yellowness (b*), chroma (C), hue (h), total phenol content (TPC), total flavonoid content (TFC), and DPPH free radical scavenging assay (DPPH). The best treatment of wet noodles was K2L0, with a preference score of 15.8. The binding of κ-carrageenan and phenolic compounds to make a networking structure by intra- and inter-disulfide bind between glucomannan and gluten was thought to affect the cooking quality, sensory properties, bioactive compounds (TPC and TFC), and DPPH.

Sensory and Chemical Properties of Long Jawed Mackerel (Rastrelliger kanagurta L.) Fish Balls with Addition of Canna (Canna edulis Kerr.) Starch Concentration as a Filler

The aim of this study was to investigated the characteristic of chemical and sensory properties of Long Jawed Mackerel fish balls which is uses canna starch concentration as a filler. The design of the research used Completely Randomized Block Design with one factor, canna starch concentration which is consist of 7 level concentration (control with tapioca starch, 5%, 10%, 15%, 20%, 25%, and 30%). The sensory parameters were observed scoring methods (color, scent, flavor, and texture), and hedonic methods (overall acceptance) by 20 panelists. Chemical parameters were observed a score of moisture content, and ash content. The best fish balls with concentration of canna starch based on sensory, moisture, and ash content were continued observed a score of protein, fat, and carbohydrate content. The result showed that the usage of canna starch as a filler affected the sensory and chemical characteristics of long jawed mackerel fish balls. Fish balls with 5% canna starch concentration was the best concentration as a filler which has sensory characteristic grayish white color, fish specific scent, fish specific taste, chewy texture, overall acceptance likes, and has 73,70% moisture content, 1,46% ash content, 16,51% protein content, 4,66% fat content, 3,67% carbohydrate content.

An evaluation of competing methods for constructing house price indexes: The case of Warsaw

Accurate house price indexes allow governments and planners to make more effective decisions with regard to land use policy. We compare different ways of computing house price indexes for Warsaw over the period 2006–2018 using a detailed micro-level dataset of 101,182 transactions. We find that when a hedonic approach is used, the resulting index is reasonably robust to the choice of method. More problematic is the repeat-sales method, which is widely used in the US. We find that repeat-sales price indexes are unreliable, affected by sample-selection bias, and prone to significant revisions when new periods are added to the dataset. Even for the hedonic approach, the choice of method can become important for smaller datasets. In such cases, the hedonic time dummy and rolling time dummy methods tend to perform better than the hedonic repricing, hedonic imputation and average characteristics methods. In comparison with the index produced by the National Bank of Poland (NBP), we find that in 2006–7 prices did not rise as much, while since the end of 2012 prices have risen faster than indicated by the NBP index. We attribute these differences to a combination of the choice of hedonic method (we use time-dummy while the NBP index uses the repricing method) and different datasets (the NBP dataset is smaller, especially in the earlier years of the sample).

Analysis of Macro Nutritional Substances, Branched-Chain Amino Acids, Viscosity Enteral Formula for Hepatic Cirrhosis Patients

Patients with hepatic impairment are particularly at risk of malnutrition because of impaired absorption, hypermetabolism, and poor oral intake. Enteral diet therapy based on pumpkin and soybean flour is one of the local foods functional as an alternative enteral formula for patients with liver cirrhosis because it contains high Branched-Chain Amino Acids (BCAA) and Medium-Chain Triglyceride (MCT). The purpose of this study was to analyze the nutritional value (proximate test), BCAA test (Leucine, Isoleucine, Valine) and Viscosity Test (thickness) and organoleptic test of enteral formulas of patients with liver cirrhosis from pumpkin and soybean flour. This descriptive qualitative research method uses three levels of treatment, comparison of pumpkin with soybean powder. The characteristics analyzed are macronutrients (energy, protein, fat, carbohydrates), BCAA (leucine, isoleucine, valine), viscosity. Statistical analysis with One Way Anova and organoleptic test with a hedonic method. The macronutrient content analysis following the diet's requirements and principles was enteral formula two at a relative concentration (80:20). The statistical test results showed a p-value of 0.000 (&lt;0.05), which means a significant difference in the content of leucine, isoleucine, and valine in the three enteral formulas. Increasing the ratio of pumpkin tends to increase the viscosity of the enteral cirrhosis formula. The enteral formula has characteristics per 1000 ml as follows: 38 grams of protein, 161.1 grams of carbohydrates, 25.2 grams of fat, 1023 kcal of energy, 5743.43 mg of BCAAs, and the results of the organoleptic test selected for the enteral formula 2.

Karakteristik sensoris krimer kental dari kacang hijau menggunakan metode uji segitiga dan hedonik

The shift in the vegan concept into a new lifestyle trend for urban communities has led to the development of plant-based foodstuffs into several processed products. Green beans with complex nutritional content have the potential to develop into a sweet thick creamer that can be developed as a complement to bakery pastry products. The purpose of this study was to develop sweetened condensed creamer made from mung bean as an alternative to filling in milk pies, to assess whether or not there was a difference between sweet thick creamer made from mung bean and animal sweetened condensed creamer, and to assess the panelists' preference for sweetened mung bean creamer. Sweet thick creamer is made from peeled green peas with variations in the amount of added sugar as much as 35%, 40%, and 45%. The evaluation method for sweet thick creamer uses a differentiation test with the triangle test method and a preference test with the hedonic test method. The results obtained were then tested binomially with a probability of 1% for the difference test and statistically with a probability of 5% for the preference test. The results of the binomial test on the triangle test showed that the thick creamer of mung bean had different sensory attributes from the thick creamer of cow's milk. The sugar concentration which increased from 35% to 45% did not make any difference and increased the preference of the panelists on the attributes of viscosity, color, taste, aroma, and overall preference for sweet thick creamer of mung bean. The conclusion obtained is that the sweetened thick creamer of mung bean has different attributes of thickness, color, sweetness, and aroma compared to the sweetened condensed creamer of cow's milk. The use of sugar with different concentrations did not give a significant difference to the preferences of the panelists on the attributes of thickness, color, taste, aroma, and overall preference for sweetened mung bean creamer.

Rolling-Time-Dummy House Price Indexes: Window Length, Linking and Options for Dealing with Low Transaction Volume

Abstract Rolling-time-dummy (RTD) is a hedonic method used by a number of countries to compute their official house price indexes (HPIs). The RTD method requires less data and is more adaptable than other hedonic methods, which makes it well suited for computing higher frequency HPIs (e.g., monthly or weekly). In this article, we address three key issues relating to RTD. First, we develop a method for determining the optimal length of the rolling window. Second, we consider variants on the standard way of linking the current period with earlier periods, and show how the optimal linking method can be determined. Third, we propose three ways of modifying the RTD method to make it more robust to periods of low transaction volume. These modifications could prove useful for countries using the RTD method in their official HPIs.

Self-Organizing Special Districts: A Tool for Community Change and Development

Can self-organizing special districts created from the bottom up be a tool for community change and development? Focusing on community services districts in California, this study introduces the context in which communities opt out of a county service system to reshape their governing structure for better representation. The empirical part measures their effectiveness, using single-family home sale prices as an impact metric. Leveraging multi-level difference-in-difference hedonic regression methods, the analysis shows that district formation increases the prices annually up to 16 percent, compared to both the surrounding and distant county service areas, indicating their efficacy as a tool for community change and development.

Implication of different sensory methodologies and failure criteria on the shelf-life of a pumpkin-orange cake

This work was aimed to study the implication of different sensory methodologies (an analytical method by selected assessors, and two hedonic methods: Acceptability limit and Survival analysis), for determining the shelf-life of a pumpkin-orange cake. Hedonic methods were performed by two groups of consumers: group A performed acceptability test first, and then survival analysis, for the group B the order was reversed. Indeed, the survival analysis was also assessed by using a staggered design and by involving other consumers. By considering the results of both analytical method and hedonic method performed by group A, the estimated shelf-life was about 15 days, meanwhile, it ranged from 30 to 40 days, based on the results of hedonic methods performed by group B of consumers and the results of survival analysis performed by using the staggered design. Failure criteria based on consumer acceptability must therefore be accurately chosen to avoid shelf-life estimation that does not reflect consumer behavior. The combination of two sensory methodologies could be a fast way to get more information regarding both the acceptability and the reason why the consumers will accept or reject the product.