During the last few decades, economists have become interested in the wine industry and several of them have focused on the determinants of price. One characteristic that has been identified as an important determinant is expert wine ratings. Much of the previous research on this topic has focused on relating expert grades to the retail price of wine. Using proprietary data, this paper will test whether these grades influence retail prices as well as retailer profits and wholesale pricing. By analyzing an individual wholesale firm in South Florida and their distribution network, this paper determines the effect expert ratings have on these dependent variables. Empirical evidence confirms that expert ratings have a positive effect on wholesale and retail wine prices and that they exhibit a parallel influence on retailer profits. This thesis aims to contribute new information to aid both the end consumers purchasing decisions as well as busi-ness pricing strategies.

Little research has been conducted on the effects of housing price cycles on preferences for environmental landscape attributes over time (Cho, Kim, & Roberts, 2011). If the economic value of scarce resources like water resource amenities depends on consumer preferences, then it is useful to address possible effects of cyclical variation in the housing market on these values. This issue is addressed in the primary research question for this thesis: Did the 2007-2009 recession and consequent real estate bust affect marginal willingness to pay for water resource amenities for properties in proximity to the lower St. Johns River (SJR) in Duval County, FL? Prior published studies on the most recent real estate cycle were used to evaluate the timing of housing market impacts during the most recent recession. Also, sales price and sales volume distributions for Duval County were evaluated to compare trends. Based on prior research and results, three separate hypotheses were generated and tested using the hedonic pricing method for residential properties in Duval County. The first hypothesis was that the recent recession impacted the implicit prices of water resource amenities for residential properties in proximity to the SJR. Two separate regression models were developed to test different recession periods (2007-2012 and 2008-2012) based on sample data. Time fixed effect binary variables were used to construct recession interaction effects with water related amenities (proximity to the SJR as well as tributary and riverfront properties). Results showed that during the recession period, sales prices for houses further away from the river experienced a greater negative impact than those closer to the river. This result is similar to research by Cohen, Coughlin, and Lopez (2012) who suggest that, higher priced or high tier residential houses (in this case, those closer to river) tend to hold their value more than low tier residential houses. Also, consistent with research by Bin, Czajkowski, Jingyuan, and Villarini (2015), sales prices for tributary and riverfront homes were not impacted by the recession. A second hypothesis was developed to test whether sales prices for houses in Duval County recovered to pre-recession levels. A regression model was constructed with a separate recession interaction effect variable for 2013-2015 and results indicated that the housing market did not make a full recovery from the recession. A final hypothesis was developed on the significance of interaction variables water quality indicator Chlorophyll-A and a recession effects binary variable. All water quality interaction variables introduced within the model were not significant at the 1% or 5% levels. Future research might include testing interactions with parcel land area and recession time effects and also examining other water quality indicators including Secchi Disk, dissolved oxygen, or turbidity. It may also be useful in the future to use an alternative method of measuring implicit prices of environmental characteristics, such as the repeat sales method.

AimThe purpose of this study is to analyze factors that affect the price on tenant-owner apartments in the central parts of Uppsala. Special attention is put on analyzing how the monthly fee and the location affect the price. The hypotheses are that the monthly fee and the distance to the central part of the city have a negative effect on the price. A number of additional price affecting factors was taken in consideration during this study. Method This study is mainly based on data supplied to us by Mäklarstatistik. The supplied data consists of information about tenant-owner apartment sales in Uppsala during a year under 2008 and 2009. Before the Hedonic method was used in order to get the result, we added information, processed it and eliminated unwanted data. The Hedonic method makes it possible to describe the selling price as a function of several price affective factors. To investigate how the monthly fee affects the selling price, several regression equations were conducted. The data supplied to us was processed with the computer program Microsoft Excel. Result and conclusions The investigation shows that there is a negative correlation both between the monthly fee and the apartments selling price, as well as between the selling price and the distances to the Fyrisån and the Stora torget. Suggestions for future research The interest rate on the housing loan is one of the biggest contributing factors in the total monthly cost for most household owners. In this study we have not taken in consideration the effect of the present interest rate for household loan. Therefore we think it would be interesting to investigate its effects on the market. Contribution of the thesis   This study has strengthened the credibility of earlier studies. It has also given a deeper insight into how the monthly fee affects the price on apartments by using more variables than earlier studies.

This dissertation consists of three papers that explore the intersection between geography and housing markets. The research examines both how geographic context shapes housing prices and how house prices influence geography through household location decisions.The first paper explores the spatial structure of housing prices within Tucson, Arizona. Hedonic house-price studies typically assume that housing attribute prices are constant over space. The research tests this assumption and compares two methods of incorporating spatial-varying parameters into house-price models: geographically weighted regression and the spatial expansion method. The results provide evidence that housing attribute prices do indeed vary with geographic context and suggest that more reliable parameter estimates and better house-price estimation accuracy can be achieved through the use of these techniques.The second paper builds upon the first by examining how more realistic conceptions of housing market spatial structure influence the hedonic price estimates of location-specific externalities. The empirical analysis examines how two key spatial effects, spatial dependence and spatial heterogeneity, impact the marginal price estimates for proximity to the Rillito River, within Tucson, Arizona. Both spatial effects are found to influence the resulting estimates, but spatial heterogeneity is of greater practical importance as the price estimates vary widely with geographic context. This research highlights the importance of considering both spatial effects in hedonic externality valuations.The final paper explores how housing prices influence interregional migration patterns, and more specifically, how their influence varies with both stage in the life course and educational attainment. The research models metropolitan migration within the United States during the period 1995 to 2000. The results indicate that housing prices play an important role in driving regional demographic change, as their influence varies with both demographic characteristics. High housing prices deter individuals in their late twenties and early thirties, but their influence wanes during middle age. House prices become more important as individuals near retirement. The results also provide evidence that college graduates respond more to house price differentials than do persons with lower levels of educational attainment.

<p><p><p><strong>Syfte:</strong> Syftet med denna studie är att utreda månadsavgiftens inverkan på bostadsrätters försäljningspris och få en indikation på hur rationellt den studerade marknaden fungerar. Den formella hypotesen är: Leder låg månadsavgift till högt försäljningspris och vice versa? Dessutom undersöks hur månadsavgiften kapitaliseras in i bostadsrätters försäljningspris.</p></p></p><p><p><p><strong>Metod:</strong> Denna studie baseras på information om bostadsrättsförsäljningar i Gävle under år 2008. En omfattande manuell databehandling har utförts för att kunna genomföra studien. De prispåverkande faktorerna har klassificerats utifrån deras förmodande inverkan på priset. Metoden som används är den hedoniska metoden, som gör det möjligt att beskriva försäljningspriset som en funktion av ett antal faktorer. För att estimera månadsavgiftens effekt på försäljningspriset har fyra regressionsekvationer utformats och beräknats i dataprogrammet Microsoft Excel. Utifrån regressionsresultatet har en värderingsformel skapats som använts för att urskilja det avkastningskrav med vilket marknaden kapitaliserat avgiften.</p></p></p><p><p><p><strong>Resultat & slutsats:</strong> Samtliga regressionsresultat visar att korrelationen mellan månadsavgift och försäljningspris är negativ. Det intressanta är dock hur månadsavgiften kapitaliseras in i bostadsrättens försäljningspris. Resultatet visar att avkastningen är som lägst när månadsavgiften är låg och tilltar i takt med att månadsavgiften ökar. Detta kan tala för att en fokusering på den låga månadsavgiften kan leda till för höga försäljningspriser.</p><p><strong>Förslag till fortsatt forskning: </strong>När vi i studien har bedömt huruvida marknaden handlar rationellt eller ej har vi inte tagit hänsyn till hur köpet är finansierat av de enskilda köparna. Detta är en faktor som komplicerar bedömningen och är värt att undersöka vidare.</p></p></p><p><p><p><strong>Uppsatsens bidrag:</strong> Studien har gett en inblick i hur månadsavgiften påverkar bostadsrätters försäljningspris. Dessutom har åskådliggjorts huruvida marknadens värdering av månadsavgiften ändras vid olika avgiftsnivåer.</p></p></p> / <p><p><p><strong>Aim:</strong> The purpose of this study is to investigate the monthly fees impact on tenant-owner<strong> </strong>flats market and get an indication of how rational the studied market is. The formal hypothesis is: Does a low monthly fee lead to high selling price and vice versa? Moreover investigates how the monthly fee capitalizes into tenant-owner flats selling price.</p></p></p><p><p><p><strong>Method:</strong> This study is based on sales of tenant-owner flats in Gävle during year 2008. An extensive manual data processing has been implemented to perform the study. The priceinfluencing factors have been classified according to their prospective impact on the price. The method used is the hedonic method, which makes it possible to describe the selling price as a function of a number of factors. To estimate monthly fees effect on the sales price, four regression equations has been designed and calculated in the computer program Microsoft Excel. Based on the regression result a valuation formula has been created and is used to identify the return of which the market has capitalized the fee.</p><p><strong>Result & Conclusions:</strong> All regression results show that the correlation between the monthly fee and selling price are negative. What is interesting is how the monthly fee is capitalized into the tenant-owner flats selling price. The result shows that the yield is at its lowest when the monthly fee is low and increases as the monthly fee increases. This may demonstrate that a low monthly fee can lead to a high selling price.</p><p><strong>Suggestions for future research:</strong> When we assessed whether the market is rational or not, we have not taken account of how the purchase is financed by the individual buyers. This is a factor that complicates the assessment and is worth exploring further.</p></p></p><p><p><p><strong>Contribution of the thesis:</strong> The study has given an insight into the monthly fees affect on tenant-owner flats selling prices. In addition, we illustrate how the market's valuation of the monthly fee changes at different levels of the fees size.</p></p></p>

Syfte: Syftet med denna studie är att utreda månadsavgiftens inverkan på bostadsrätters försäljningspris och få en indikation på hur rationellt den studerade marknaden fungerar. Den formella hypotesen är: Leder låg månadsavgift till högt försäljningspris och vice versa? Dessutom undersöks hur månadsavgiften kapitaliseras in i bostadsrätters försäljningspris. Metod: Denna studie baseras på information om bostadsrättsförsäljningar i Gävle under år 2008. En omfattande manuell databehandling har utförts för att kunna genomföra studien. De prispåverkande faktorerna har klassificerats utifrån deras förmodande inverkan på priset. Metoden som används är den hedoniska metoden, som gör det möjligt att beskriva försäljningspriset som en funktion av ett antal faktorer. För att estimera månadsavgiftens effekt på försäljningspriset har fyra regressionsekvationer utformats och beräknats i dataprogrammet Microsoft Excel. Utifrån regressionsresultatet har en värderingsformel skapats som använts för att urskilja det avkastningskrav med vilket marknaden kapitaliserat avgiften. Resultat &amp; slutsats: Samtliga regressionsresultat visar att korrelationen mellan månadsavgift och försäljningspris är negativ. Det intressanta är dock hur månadsavgiften kapitaliseras in i bostadsrättens försäljningspris. Resultatet visar att avkastningen är som lägst när månadsavgiften är låg och tilltar i takt med att månadsavgiften ökar. Detta kan tala för att en fokusering på den låga månadsavgiften kan leda till för höga försäljningspriser. Förslag till fortsatt forskning: När vi i studien har bedömt huruvida marknaden handlar rationellt eller ej har vi inte tagit hänsyn till hur köpet är finansierat av de enskilda köparna. Detta är en faktor som komplicerar bedömningen och är värt att undersöka vidare. Uppsatsens bidrag: Studien har gett en inblick i hur månadsavgiften påverkar bostadsrätters försäljningspris. Dessutom har åskådliggjorts huruvida marknadens värdering av månadsavgiften ändras vid olika avgiftsnivåer. / Aim: The purpose of this study is to investigate the monthly fees impact on tenant-owner flats market and get an indication of how rational the studied market is. The formal hypothesis is: Does a low monthly fee lead to high selling price and vice versa? Moreover investigates how the monthly fee capitalizes into tenant-owner flats selling price. Method: This study is based on sales of tenant-owner flats in Gävle during year 2008. An extensive manual data processing has been implemented to perform the study. The priceinfluencing factors have been classified according to their prospective impact on the price. The method used is the hedonic method, which makes it possible to describe the selling price as a function of a number of factors. To estimate monthly fees effect on the sales price, four regression equations has been designed and calculated in the computer program Microsoft Excel. Based on the regression result a valuation formula has been created and is used to identify the return of which the market has capitalized the fee. Result &amp; Conclusions: All regression results show that the correlation between the monthly fee and selling price are negative. What is interesting is how the monthly fee is capitalized into the tenant-owner flats selling price. The result shows that the yield is at its lowest when the monthly fee is low and increases as the monthly fee increases. This may demonstrate that a low monthly fee can lead to a high selling price. Suggestions for future research: When we assessed whether the market is rational or not, we have not taken account of how the purchase is financed by the individual buyers. This is a factor that complicates the assessment and is worth exploring further. Contribution of the thesis: The study has given an insight into the monthly fees affect on tenant-owner flats selling prices. In addition, we illustrate how the market's valuation of the monthly fee changes at different levels of the fees size.