What does hunting market price reflect? The role of species, landscape and management

2015 ◽  
Vol 42 (3) ◽  
pp. 280 ◽  
Author(s):  
M. Martinez-Jauregui ◽  
A. C. Herruzo ◽  
P. Campos
Keyword(s):  
Market Price ◽  
Hedonic Price ◽  
Age Classes ◽  
Mixed Effect ◽  
Small Game ◽  
Market Values ◽  
Hedonic Price Analysis ◽  
Hunting Bag ◽  
Game Hunting ◽  
Joint Consideration

Context Hunting transactions can be considered a composite good that includes various attributes or characteristics. Obtaining information regarding the utility derived from the different characteristics of the hunter’s bag might help elucidate the purchasing behaviour of hunters. This behaviour is, in turn, an important aspect to be considered by land managers in adaptive hunting management. Aims The present study attempts to identify the values given by hunters to species, landscape and management in the pricing of the hunter’s bag. Our analysis is focused on the hunting bag characteristics and adds to previous research the joint consideration of the amount and quality (sex, age classes and trophy) of various species in the hunter’s bag. Methods We use a dataset of 740 forest hunting estates at Andalucía (1 162 405 ha in the south of Spain) with an important mixed-species bag composition and where 225 game-hunting marketed transactions were declared by the hunting managers, including 13 541 hunting journeys. Hedonic-price analysis and mixed-effect models are used. Key results Our results showed that the composition of the harvested species (quantity and trophy of different species, sex and age classes), the activities related to harvesting and organisation of hunting events and landscape in hunting areas are relevant attributes in big-game market transactions. In small-game market transactions, species and landscape are the primary significant variables found. The latter variable plays a more important role in small game than in big game. Conclusions These findings indicated that hunting market values include, in addition to hunters’ recreational experience, ecological and management aspects with a broader social scope. Implications A further discussion regarding the possible conflict among hunter preferences, long-term game-management decisions and ecological goals is also provided.

The structure of automotive nostalgia: a hedonic price analysis of classic car model value formation

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
George Baltas ◽  
Christina Giakoumaki
Keyword(s):  
Empirical Studies ◽  
Critical Role ◽  
Research Literature ◽  
Hedonic Price ◽  
Public Attention ◽  
Content Type ◽  
Market Values ◽  
Hedonic Price Analysis ◽  
Car Model ◽  
And Performance

PurposeFor several years, the classic car market has been attracting considerable media and public attention, but the research literature is virtually nonexistent. The purpose of this paper is to address the factors that determine the values of classic car models and explain the remarkable price differences among them.Design/methodology/approachThe paper develops and tests a set of research hypotheses about the effects of model characteristics on market values in the context of a generalized hedonic price model that also accounts for heterogeneity among classic car brands.FindingsIt is demonstrated that classic car model values reside at several levels and are determined by observable characteristics pertaining to aesthetics, rarity, engineering and performance. In addition, we show that classic car marques play a critical role in the determination of model values and account for considerable variation in values, even after controlling for observable model attributesOriginality/valueThis is one of the first empirical studies to address classic car model value formation. The findings reveal how measurable, observable factors determine classic car model values and augment our understanding of a very interesting but understudied market.

Increasing value through gear flexibility: A case study of U.S. West Coast Sablefish

2021 ◽  
Author(s):  
Melissa J Krigbaum ◽  
Christopher M. Anderson
Keyword(s):  
West Coast ◽  
Allocative Efficiency ◽  
Size Composition ◽  
Hedonic Price ◽  
Mixed Effect ◽  
Important Species ◽  
Anoplopoma Fimbria ◽  
Hedonic Price Analysis ◽  
Size Condition

This paper explores the potential economic gains of allowing additional flexibility in gear-choice, within rights-based management programs. A case study of U.S. West Coast sablefish (Anoplopoma fimbria) provides an example of a commercially important species where gear-switching is currently occurring within the IFQ program, allowing us to isolate the economic potential of gear flexibility along two important margins: size and quality. We conduct a hedonic price analysis of ex-vessel prices using panel fish ticket data and linear mixed-effect econometric models to examine the influences of gear, size, condition, fishing sector, port group, landing month and year on the price of sablefish. We generate a counter-factual scenario that represents the IFQ fishery where the use of fixed-gear is prohibited, by predicting what the size-composition of catch would have been if the sablefish had been caught with trawl gear. We find that the flexibility of targeting sablefish with fixed gear between 2011-2016 generated an annual average 10.45% increase in total revenue, or $1.17M, compared to the trawl-only scenario. These results show sablefish value increases through implementing gear flexibility, which contributes to a broader conversation of allocative efficiency.

A Hedonic Price Analysis of the Outfitter Market for Trout Fishing in the Rocky Mountain West

2012 ◽  
Vol 17 (6) ◽  
pp. 446-462 ◽  
Author(s):  
Heidi M. Pitts ◽  
Jennifer A. Thacher ◽  
Patricia A. Champ ◽  
Robert P. Berrens
Keyword(s):  
Rocky Mountain ◽  
Hedonic Price ◽  
Hedonic Price Analysis ◽  
Rocky Mountain West ◽  
Mountain West ◽  
Price Analysis

Hedonic Price Analysis in Food Markets

2011 ◽  
pp. 151-180 ◽  
Author(s):  
Marco Costanigro ◽  
Jill J. Mccluskey
Keyword(s):  
Large Data ◽  
Data Sets ◽  
Hedonic Price ◽  
Long Term Effects ◽  
Food Markets ◽  
Regulatory Policies ◽  
Hedonic Price Analysis ◽  
Trade Offs ◽  
Price Relationship ◽  
Implicit Prices

This article presents the basic theory of hedonic modeling, its empirical application and relevance, and the principal limitations and challenges. Agricultural economists have long utilized the hedonic price relationship, and the hedonic price technique has been utilized to estimate the implicit prices of attributes for numerous food products. It provides a framework of the hedonic models that can be used to quantify the long-term effects of exogenous shocks on quality, or implementation of regulatory policies. This article discusses the whole armamentarium of econometric models and methods familiar to applied economists, including parametric, semi-parametric, and non-parametric approaches. The objective is to describe briefly each econometric model within the hedonic context and provide an understanding of the implications and trade-offs inherent to the choice of each alternative. This is a fruitful area of research with increased customization of products and the increasing availability of large data sets.

Retail strategies for rosé wines in Italy: a hedonic price analysis

2019 ◽  
Vol 31 (3) ◽  
pp. 282-302 ◽  
Author(s):  
Luca Rossetto ◽  
Luigi Galletto
Keyword(s):  
Model Performance ◽  
Hedonic Model ◽  
Hedonic Price ◽  
Hedonic Analysis ◽  
Grape Variety ◽  
Content Type ◽  
Hedonic Price Analysis ◽  
The Usa ◽  
Data Survey ◽  
Rosé Wine

Purpose The purpose of this paper is to analyze the market of rosé wines in Italy, to outline retail strategies and to investigate to what extent the price is affected by branding these wines. Design/methodology/approach A survey has been carried out on retailers by collecting data about wines as intrinsic attributes (grape variety, blending, origin, alcohol content, etc.) and extrinsic attributes (brand, price, packaging, etc.) and about outlet and retail environment. The hedonic analysis required a rearrangement of data survey, while a Box-Cox transformation allowed to control the strong heteroskedasticity detected of the data. Findings Results provide strategies for still, semi-sparkling and sparkling rosé market segments. Still rosé wines are strongly differentiated, while the price is affected by the appellation, grape variety, blending, brand and outlet features. Two main strategies are suggested: the first focuses on appellations endorsing consumer’s brand loyalty; the second is driven by retailers while involving weaker brands. Different pictures emerged for semi-sparkling and sparkling wines, as producers and retailers tend to follow consumer’s preferences for fresh and easy drinking wines as well as to extend the product assortment. Research limitations/implications Results for sparkling rosé wines cannot be generalized. The high fragmentation hinders the hedonic model performance in capturing the price effects of brands, appellations, grape variety and wine blend. Practical implications The hedonic analysis provides suggestions for rosé wine producers that should reinforce their brand through associations among intrinsic attributes, such as appellation, and extrinsic ones, such as price, while satisfying retailer requirements. Originality/value The paper contributes to the knowledge base about the Italian rosé wine market, which is mostly export-oriented. Model results help to understand why the domestic consumption is stagnant with respect to other countries such as France or the USA.

scholarly journals Association between Accounting Numbers and Value of Food and Beverages Firms in Nigeria

2015 ◽  
Vol 7 (12) ◽  
pp. 245
Author(s):  
Nyor Terzungwe ◽  
Nasiru Rabiu
Keyword(s):  
Value Relevance ◽  
Stock Exchange ◽  
Investment Decision ◽  
Market Price ◽  
Accounting Information ◽  
Financial Statements ◽  
Annual Reports ◽  
Market Values ◽  
Food And Beverages ◽  
Accounting Numbers

<p>The degree of statistical relationship between the contents of financial statements and market price of equity is what is termed Value relevance of accounting information. It explains stock market measures using financial information variables and it is a very useful guide to investors in pricing of shares. This study examines the extent of association between accounting information variables of earnings, dividend and book value of equity and market value of listed Food and Beverages firms in Nigeria. Data were collected from the published annual reports of the sampled firms and their market values obtained from the official daily list of the Nigerian Stock Exchange (NSE) over a period of 10 years (2001-2010). Using multivariate regression as technique for data analysis, the study established that accounting information of Food &amp; Beverages companies in Nigeria is value relevant. Accordingly, the study recommends the use of financial statements figures of Food and Beverages firms for investment decision.</p>

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