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Registros recuperados: 27
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Hedonic Valuation of Ecosystem Services Using Agricultural Land Prices AgEcon
Ma, Shan.
Agriculture, an ecosystem transformed by humans for the purpose of supplying food, fiber and biofuel, can provide people a host of benefits, or ecosystem services (ES). While markets exist for farm products, many of today’s central agro-environmental policy concerns are related to ES that lack complete markets, such as regulating ES and recreational, aesthetic and cultural ES. Valuation of non-marketed ES linked to agriculture is needed to improve their utilization and efficient provision. Some ES that facilitate agricultural production or provide natural amenities can be perceived by people through various natural resources and landscapes on farmlands and surrounding areas. One indirect way to measure the value of ES is via what people pay for the lands...
Tipo: Thesis or Dissertation Palavras-chave: Agricultural land; Hedonic; Ecosystem services; Sales price; Appraisal value; GIS.; Environmental Economics and Policy; Q24; Q51; Q57..
Ano: 2010 URL: http://purl.umn.edu/59321
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Are Consumers Willing to Pay for Organic When the Food is Already Local? AgEcon
Connolly, Cristina; Klaiber, H. Allen.
The emergence of community supported agriculture (CSA) farms has provided a new way for small farms to remain competitive while engaging their local community through direct marketing. In this study, we report on some of the first revealed preference valuation of CSA attributes, including the willingness to pay for competing organic certification programs. Using data on the prices and attributes of 188 CSA farms spanning Ohio and Pennsylvania we estimate willingness to pay measures from both hedonic and nearest-neighbor matching methods. Results from a semi-log hedonic reveal a willingness to pay of approximately 9% for organic branding compared to natural, which translates into an additional $48 per summer season share. We also find a statistically...
Tipo: Working Paper Palavras-chave: Organic; Local; Matching; Hedonic; Community supported agriculture; Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety; Q13; Q51.
Ano: 2012 URL: http://purl.umn.edu/124364
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A Methodology for Evaluating How Product Characteristics Impact Choice in Retail Settings with Many Zero Observations: An Application to Restaurant Wine Purchase AgEcon
Durham, Catherine A.; Pardoe, Iain; Vega-H, Esteban.
An approach is developed to examine the impact of product characteristics on choice using a quantity-dependent hedonic model with retail panel data. Since panel data for individual products from retail settings can include a large number of zero sales, a modification of the zero-inflated Poisson (ZIP) regression model is proposed for estimation. Results for this model compare favorably to results for alternative hurdle and negative binomial models. An application of this methodology to restaurant wine sales produces useful results regarding sensory characteristics, price, and origin/varietal information.
Tipo: Journal Article Palavras-chave: Hedonic; Restaurant; Sensory; Wine; Zero-inflated Poisson (ZIP); Consumer/Household Economics.
Ano: 2004 URL: http://purl.umn.edu/31138
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Differences in Prices and Price Risk Across Alternative Marketing Arrangements Used in the Fed Cattle Industry AgEcon
Muth, Mary K.; Liu, Yanyan; Koontz, Stephen R.; Lawrence, John D..
Information on prices and price risk differences across marketing arrangements aids fed cattle producers in making choices about marketing methods. As part of the congressionally mandated Livestock and Meat Marketing Study, we investigated fed cattle price and price risk differences across marketing arrangements. The analysis uses data representing cattle purchased by 29 large beef packing plants from October 2002 through March 2005. Results indicate that marketing agreements offered the best tradeoff between price level and price risk. Forward contracts had the lowest average yet highly volatile prices. Auction barn prices were higher than other methods but also the most volatile.
Tipo: Journal Article Palavras-chave: Alternative marketing arrangements; Fed cattle; Hedonic; Price risk; Price volatility; Prices; Livestock Production/Industries; Marketing; Risk and Uncertainty.
Ano: 2008 URL: http://purl.umn.edu/36711
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MARGINAL PRICE OF LAKE RECREATION AND AESTHETICS: AN HEDONIC APPROACH AgEcon
Lansford, Notie H., Jr.; Jones, Lonnie L..
Efficient allocation of water requires knowledge of water's value in both consumptive and nonconsumptive uses. This study estimates the marginal value of water in lake recreational and aesthetic (RA) use. An hedonic price equation (employing the Box-Cox functional form) indicates lake front location, distance to lake, and scenic view are significant RA characteristics of housing. Water front properties command a premium price for the private access they offer. Beyond the water front, the marginal RA price falls rapidly with increasing distance, becoming asymptotic to some minimum. Twenty-two percent of housing price is found to be attributable to the RA component.
Tipo: Journal Article Palavras-chave: Aesthetic; Box-Cox; Hedonic; Housing; Lake; Nonmarket; Recreation; Water; Resource /Energy Economics and Policy.
Ano: 1995 URL: http://purl.umn.edu/15347
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HEDONIC PRICE FUNCTIONS: GUIDANCE ON EMPIRICAL SPECIFICATION AgEcon
Kuminoff, Nicolai V.; Parmeter, Christopher F.; Pope, Jaren C..
The hedonic pricing model is widely accepted as a method for estimating the marginal willingness to pay for spatially delineated amenities. Empirical applications typically rely on one of three functional forms—linear, semi-log, and double-log—and rarely involve rigorous specification testing. This phenomenon is largely due to an influential simulation study by Cropper, Deck and McConnell (CDM) (1988) that found, among other things, that simpler linear specifications outperformed more flexible functional forms in the face of omitted variables. In the 20 years that have elapsed since their study, there have been major computational advances and significant changes in the way hedonic price functions can be estimated. The purpose of our paper is to update and...
Tipo: Conference Paper or Presentation Palavras-chave: Hedonic; Functional Form; Monte Carlo Simulation; Property Value Model; Demand and Price Analysis; Land Economics/Use; Research Methods/ Statistical Methods; Q15; Q51; Q53; C15; R52.
Ano: 2008 URL: http://purl.umn.edu/6555
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MARGINAL VALUE OF QUALITY ATTRIBUTES FOR NATURAL AND ORGANIC BEEF AgEcon
Boland, Michael A.; Schroeder, Ted C..
The objective of this research is to determine the marginal value of attributes to consumers with respect to natural beef or beef produced with organic grains. A hedonic model is used to value attributes of 11 different primal cuts. Results suggest that producers under this particular natural/implant-free marketing alliance should market high-yielding animals rather than high-quality grading animals. Consumers of this beef value taste, as measured by dry aging, and leanness, as measured by USDA Select grade. The economic magnitudes of the variables under a producer's control were small relative to those that could be controlled by a processor.
Tipo: Journal Article Palavras-chave: Beef; Small farms; Hedonic; Livestock Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/15517
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Using a Bundled Amenity Model to Estimate the Value of Cropland Open Space and Determine an Optimal Buffer Zone AgEcon
Kuminoff, Nicolai V..
This study investigates how proximity to cropland influences residential property values and considers the public policy implications. The hedonic model generalizes previous studies by recognizing that the bundle of externalities generated by crop production may increase the price of some homes and decrease the price of others, depending on their respective locations. Using an instrumental variables approach to estimate the model for San Joaquin County, California, suggests that proximity to cropland increases the value of most, but not all, single-family homes near the agricultural-urban edge. The results imply an agricultural buffer zone of 68 meters would mitigate most cropland disamenities.
Tipo: Journal Article Palavras-chave: Amenity value; Buffer zone; Cropland; Hedonic; Land use; Open space; Land Economics/Use; Resource /Energy Economics and Policy.
Ano: 2009 URL: http://purl.umn.edu/50086
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The Price of Happy Hens: A Hedonic Analysis of Retail Egg Prices AgEcon
Chang, Jae Bong; Lusk, Jayson L.; Norwood, F. Bailey.
This paper analyzes price differentials among conventional, cage-free, organic, and Omega-3 eggs using retail scanner data from two regional markets and the United States as a whole. Results reveal significant premiums attributable to cage-free (a 57% premium on average) and organic (an 85% premium on average). However, significant variation exists among geographic locations; price premiums for organic over conventional eggs in Dallas are almost twice as high as those in San Francisco. Estimates indicate that about 42% of the typically observed premium for cage-free eggs over conventional eggs (and 36% of the premium for organic eggs) can be attributed to egg color rather than differences in hens’ living conditions. Despite the large implicit price...
Tipo: Journal Article Palavras-chave: Animal welfare; Cage-free; Eggs; Free-range; Hedonic; Organic; Demand and Price Analysis; Livestock Production/Industries.
Ano: 2010 URL: http://purl.umn.edu/97855
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SOYBEANS QUALITY PRICE DIFFERENTIALS FROM AN ELEVATOR'S PERSPECTIVE AgEcon
Murova, Olga I.; Mumma, Gerald A.; Hudson, Darren; Couvillion, Warren C..
Soybean prices are determined by interaction between various factors. At an elevator, discount prices for unique characteristics can range from 0.02 cents per bushel to 7.71 cents per bushel of soybeans. This variation suggests that producers of soybeans need quality-characteristic specific information concerning soybeans pricing at the market. This study uses a hedonic model to evaluate price differentials associated with soybean quality based on grain elevator data during the 1998 production period. Foreign material, moisture, bean damage, and net weight were found to significantly influence the cash price of soybeans.
Tipo: Conference Paper or Presentation Palavras-chave: Hedonic; Quality; Discount; Crop Production/Industries; Demand and Price Analysis.
Ano: 1999 URL: http://purl.umn.edu/21523
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The Value to Consumers of Health Labeling Statements on Breakfast Foods and Cereals AgEcon
Muth, Mary K.; Zhen, Chen; Taylor, Justin; Cates, Sheryl; Kosa, Katherine M.; Zorn, David; Choiniere, Conrad J..
Food manufacturers have an incentive to include nutrient content claims, health claims, or other types of labeling statements on foods if they believe that consumers will be willing to pay more for products with specific attributes. We estimated semi-log hedonic price regressions for five breakfast bar and cereal product categories using Nielsen ScanTrack scanner data for 2004 and found that labeling statements for these foods are often associated with substantial increases in consumer willingness to pay. The largest effects were associated with “carb-conscious” carbohydrate labeling (reflecting the time period of the data), followed by fat and sugar content labeling statements.
Tipo: Conference Paper or Presentation Palavras-chave: Labeling statements; Nutrient content claims; Health claims; Scanner data; Willingness to pay; Hedonic; Agricultural and Food Policy; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety.
Ano: 2009 URL: http://purl.umn.edu/50333
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Hedonic Analysis of Sustainable Food Products AgEcon
Satimanon, Thasanee; Weatherspoon, Dave D..
www.ifama.org
Tipo: Journal Article Palavras-chave: Hedonic; Sustainable; Sustainability; Eggs; Free-range; Cage-free; Agribusiness; Q13.
Ano: 2010 URL: http://purl.umn.edu/96336
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Assessing the use of Geographical Indications for the New England wine region in NSW AgEcon
Chang, Hui-Shung (Christie); Campbell, Gene; Sniekers, Peter.
Geographical Indications (GIs) have increasingly been used as a marketing tool to create an image of quality and uniqueness, and so capture premium prices. Hedonic pricing studies have shown that indication of geographical origin of production (e.g. country, region, wineries, and location), can affect prices. However, Geographical Indications only work when they are backed up by quality products. The objectives of this study are to assess the potential of a proposed Geographical Indication for the emerging “"New England”" wine region in promoting local wines and to make recommendations on how that potential, if it exists, can be realised. The assessment is based on an overview of existing systems of Geographical Indications and conditions, both economic...
Tipo: Conference Paper or Presentation Palavras-chave: Geographical indication; TRIPS Agreement; Wine marketing; Hedonic; Agribusiness.
Ano: 2007 URL: http://purl.umn.edu/10414
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The Value of Disappearing Beaches: A hedonic pricing model with endogenous beach width AgEcon
Gopalakrishnan, Sathya; Smith, Martin D.; Slott, Jordan M.; Murray, A. Brad.
Tipo: Conference Paper or Presentation Palavras-chave: Beach nourishment; Beach width; Erosion; Hedonic; Non-market valuation; Morpho-economics; Environmental Economics and Policy; Resource /Energy Economics and Policy; Q24; Q51; Q54.
Ano: 2009 URL: http://purl.umn.edu/49261
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Measuring the Welfare Loss to Landowners of Future Geographic Shifts In the Suitable Habitat for Vegetation Due to Climate Change AgEcon
Howard, Peter H..
Scientists predict that global warming will cause suitable habitat ranges to shift for many plant species, including blue oak in California. If proximity to particular land cover types significantly affects human welfare, any such shifts will affect household welfare, resulting in an indirect cost that is currently unaccounted for in the climate change literature. Using a hedonic pricing model, the marginal values of blue oaks and the land cover types most likely to replace them are estimated at multiple spatial scales using single family residences sold in Kern County from 1997 to 2003. In addition to the common identification problems of specification error and omitted variable bias, the variables measuring the degree of proximity of a property to...
Tipo: Conference Paper or Presentation Palavras-chave: Hedonic; Multi-scale capitalization; Housing demand; Species distribution model; Climate change; Displacement of native species; Vegetation movement; Geographic Information System (GIS); Amenity value; Land use; Consumer/Household Economics; Demand and Price Analysis; Environmental Economics and Policy; Land Economics/Use.
Ano: 2011 URL: http://purl.umn.edu/103640
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Influence of Climate Variability on the Market Price of Water in the Gila-San Francisco Basin AgEcon
Pullen, Jennifer L.; Colby, Bonnie G..
Emerging water markets in the western United States have slowly developed as usage patterns have changed over time. This article develops an econometric model for the Gila-San Francisco Basin. Results indicate the market price of water has risen in response to drought and market conditions. Analysis shows a statistically significant relationship between the price and quantity of water transferred, year the transaction occurred, location where the transaction occurred, new use of the water right, and whether the transaction occurred during a drought year. Using the Standard Precipitation Index, we find negotiated prices are higher during dry years.
Tipo: Journal Article Palavras-chave: Drought; Econometrics; Hedonic; Market price; Palmer Hydrological Drought Index; Standard Precipitation Index; Water; Western United States; Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/46568
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The Impact of Shale Exploration on Housing Values in Pennsylvania AgEcon
Klaiber, H. Allen; Gopalakrishnan, Sathya.
Horizontal drilling and hydraulic fracturing processes to extract shale gas have raised concerns among local residents over the safety of these new drilling techniques. To assess whether potential negative externalities associated with shale gas exploration are capitalized into surrounding homeowners property values, we estimate a hedonic model combining data on 3,464 housing sales occurring between 2008 and 2010 in a suburban/rural county south of Pittsburgh, PA which experienced large numbers of new horizontal Marcellus wells beginning in late 2008. Using hedonic methods, we find a negative and significant impact to households in close proximity both spatially and temporally to this activity. Further we find that this negative impact disproportionately...
Tipo: Presentation Palavras-chave: Shale gas; Housing values; Risk perceptions; Hedonic; Environmental Economics and Policy; Land Economics/Use; Resource /Energy Economics and Policy; Q51; Q52; R21.
Ano: 2012 URL: http://purl.umn.edu/124368
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Many-to-One Matching when Colleagues Matter AgEcon
Revilla, Pablo.
This paper studies many-to-one matching market in which each agent’s preferences not only depend on the institution that hires her, but also on the group of her colleagues, which are matched to the same institution. With an unrestricted domain of preferences the non-emptiness of the core is not guaranteed. Under certain conditions on agents’ preferences, we show that two possible situations in which, at least, one stable allocation exists, emerge. The first condition, called Group Togetherness, reflects real-life situations in which agents are more concerned about an acceptable set of colleagues than about the firm hiring them. The second one, Common Best Colleague, refers to markets in which a workers’ ranking is accepted by workers and firms present...
Tipo: Working or Discussion Paper Palavras-chave: Many-to-one matching; Hedonic; Coalitions; Stability; Colleagues; Marketing; C78; D71.
Ano: 2007 URL: http://purl.umn.edu/7443
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A HEDONIC MODEL OF RICE TRAITS: ECONOMIC VALUES FROM FARMERS IN WEST AFRICA AgEcon
Dalton, Timothy J..
New crop varieties often have been promoted in developing countries based upon superior yield vis-a-vis locally available varieties. This research presents a hedonic model for upland rice by drawing upon the input characteristics and consumer good characteristics model literature. Model specification tests determine that a combination of production and consumption characteristics best explains the willingness to pay for new upland rice varieties. This non-separable household model specification determined that four traits explain the willingness to pay for new rice varieties: plant cycle length, plant height, grain elongation/swelling and tenderness. Yield was not significant explanatory variable for the willingness to pay for seed. The implications...
Tipo: Conference Paper or Presentation Palavras-chave: Hedonic; Upland rice; West Africa; Household modelling; Crop Production/Industries.
Ano: 2003 URL: http://purl.umn.edu/25804
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Are Travelers Willing to Pay a Premium to Stay at a “Green” Hotel? Evidence from an Internal Meta-Analysis of Hedonic Price Premia AgEcon
Kuminoff, Nicolai V.; Zhang, Congwen; Rudi, Jeta.
A growing number of hotels provide “green” lodging for travelers with strong environmental preferences. Twelve states have developed certification programs to regulate these claims. After describing the new market for green lodging, we use data on prices and amenities of “green” and “brown” hotels in Virginia to estimate a hedonic model of hotel room pricing. We find that travelers can expect to pay a significant premium for a standard room in a green hotel. An internal meta-analysis is used to evaluate the robustness of this result to subjective econometric modeling decisions. Our results indicate a premium between $9 and $26.
Tipo: Journal Article Palavras-chave: Green lodging; Hedonic; Hotel; Internal meta-analysis; Environmental Economics and Policy; Research Methods/ Statistical Methods.
Ano: 2010 URL: http://purl.umn.edu/95612
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