This paper examines exchange rate pass-through in the automobile markets of twelve European Union countries. Using retail prices for individual car models for the 1993-96 period our estimates are based on a hedonic pricing framework which controls for model specific characteristics. Pass-through is found to be significantly below fifty percent in all countries. There is no evidence that either ...

1 Introduction 2 The valuation of human health benefits is often a crucial, but sometimes controversial, aspect of 3 the application of benefit-cost analysis to environmental policies. Valuing the reduced risks of mortality, 4 in particular, poses a special set of conceptual, analytical, ethical and empirical challenges for economists 5 and policy analysts. This white paper addresses current an...

In mammals, the hedonic aspects (good versus bad) and sensory aspects (i.e., the molecular quality) of taste are associated with different brain regions. Anatomical data argue against such a separation in the primary taste center of Drosophila larvae. Is only one aspect of taste represented or do both co-exist at the same location? I present evidence for a hedonic representation in the larval t...

A minimal requirement on allocative efficiency in the social sciences is Pareto optimality. In this paper, we identify a far-reaching structural connection between Pareto optimal and perfect partitions that has various algorithmic consequences for coalition formation. In particular, we show that computing and verifying Pareto optimal partitions in general hedonic games and B-hedonic games is in...

Economic models for hedonic markets characterize the pricing of bundles of attributes and the demand and supply of these attributes under different assumptions about market structure, preferences, and technology (see Jan Tinbergen [1956], Sherwin Rosen [1974], and Dennis Epple [1987] for contributions to this literature). While the theory is well formulated and delivers some elegant analytical ...

With the proliferation of hedonic information systems, understanding users’ acceptance of hedonic information systems has become a new topic for practitioners and academics. While perceived playfulness or perceived enjoyment has been found to have a significant influence on the behavioral intention to use hedonic information systems, little research has been conducted to investigate empirically...

We consider classes of hedonic games in which each player’s preferences over coalition structures are induced by the best player (Band B-hedonic games) or the worst player (Wand W-hedonic games) in his coalition. For these classes, which allow for concise representation, we analyze the computational complexity of deciding the existence of and computing individually stable, Nash stable, and indi...

The hedonic price literature suggests that locations with more favourable characteristics should display compensating wage and house price differentials. Estimates of the marginal willingness to pay for small changes in climate variables are derived using the hedonic price technique applied to Italian data. A hedonic price model was specified in terms of January and July averages. There exists ...

Hedonic expectations and global memories converge, but both are poorly related to actual hedonic experience. We find that the economic value of a car predicts the reported hedonic experience of driving under prospective (How would it feel?) and global retrospective (How does it usually feel?) conditions, but not under episodic conditions (How did it feel last time?), unless the car was the foca...