Bibliometric analysis of hedonic price model using CiteSpace

Purpose Hedonic price modeling (HPM) plays an important role in identifying factors affecting the price of goods or services. Many researchers have extensively used this modeling approach in their research work. However, there has been no bibliometric review that analyses the existing research, which makes use of HPM modeling. This study aims to provide a comprehensive visualized bibliometric and scientometric view of HPM usage in real estate research. Design/methodology/approach The Scopus database was used to collect the bibliographic data of 269 publications from 1970 to 2019. CiteSpace software was then used to analyze and visualize the data. Findings The results revealed a significant increase in the annual number of HPM study publications. Core authors, participating countries and representative references have been identified. Research hotspots for the HPM studies were identified. Originality/value While the study provides a methodological bibliometric review of HPM literature, the findings provide a very good platform for understanding the important elements of HPM usage in real estate research.

Macroeconomic determinants of wine prices

Purpose The purpose of this paper is to identify the macroeconomic determinants of fine-wine prices and estimate their impacts. Design/methodology/approach The author models the Liv-ex fine-wine price indices with the macroeconomic variables of emerging and developed markets on a monthly basis from 1996 to 2015. Findings The demand from emerging markets plays a key role in fine-wine pricing and, more precisely, in the price fluctuation of prestige Bordeaux wines. Furthermore, the continuous weakening of the US dollar in real terms favors an increase in fine-wine prices. Since 2011, the slowdown in economic growth in emerging markets, followed by the depreciation of national currencies, has negatively affected the luxury wine market. Along with the process of financialization in the fine-wine market, prices have become more volatile. Factors such as money supply, real interest rates and the growth of investment funds have started to show their influence on fine-wine pricing. Originality/value Complementary to the hedonic price modeling, this research can provide an analysis to wine-price modeling and forecasting within the macroeconomic approach.