This study fills a void in the literature by providing the first evaluation of the impact of consumer ratings on beer prices using hedonic methods. Our work is based on a dataset consisting of over 400 beers and includes information on calorie content, alcohol content, user rating, and style for each beer. Our results indicate that a 10-point increase in consumer rating is associated with about...

Value assessment (valuation) of certain real properties is commonly required for a variety of purposes. In this article an approach to define an estimator of the value of a real property, with good statistical properties is proposed. This estimator reaches a consensus between the various available methods. The estimator proposed uses all available information optimally, including the informatio...

This paper studies a nonparametric hedonic equilibrium model in which certain product characteristics are unobserved. Unlike most previously studied hedonic models, both the observed and unobserved agent heterogeneities enter the structural functions nonparametrically. Prices are endogenously determined in equilibrium. Using both withinand cross-market price variation, I show that all the struc...

This paper estimates hedonic price models for a sample of 610 vacation rental houses located in the vicinity of a lake and four-season ski-golf resort. Hedonic semi-logarithmic regression models are estimated for peak summer and peak winter rentals for 2008. The regression estimates for weekly rental prices are conditioned on explanatory variables for house size, house quality, and recreation f...

Changes in home owners’ wealth is measured by using an index of property prices constructed from sales transactions. Since only a very small proportion of the housing stock is offered to the market in any given time period, the index is a proxy for change in the price of all properties. The accuracy of the index determines its suitability as a ‘good’ proxy in reflecting price changes. Several m...

In this study we utilize a hedonic property price analysis to examine changes in the implicit price of water quality. We analyze Martin County, Florida waterfront home sales from 2001 to 2010 accounting for the associated significant real estate fluctuations in this area through flexible econometric controls in space and time. We apply a statistical methodology that identifies housing market pr...

There are currently two commonly used approaches to assessing economic impacts of health damage resulting from environmental pollution: human capital approach (HCA) and willingness-to-pay (WTP). WTP can be further divided into averted expenditure approach (AEA), hedonic wage approach (HWA), contingent valuation approach (CVA) and hedonic price approach (HPA). A general review of the principles ...

A basic assumption of the hedonic technique is that there are no barriers to mobility which prevent prices changing to reflect the net benefits of a given location. But climate variables are undeviating over relatively large differences and the absence of a common language and/or cultural ties may prevent the net advantages associated with a particular region from being eliminated. Methods alte...