Statistics paint a picture of a wheat industry under severe pressure, with the number of hectares dedicated to wheat production that have decreased while imports notably increased since 1997. This has had a negative impact on the industry‘s global competitiveness. The direct and indirect linkages between wheat and wheat products, together with the benefits that the industry can bring to the economy in the form of heightened food security and employment opportunities, highlight the need for a competitive wheat industry in South Africa. Clearly, the underlying causes of the declining wheat production in South Africa need to be investigated and understood. The presence of strict wheat quality standards and the fact that one of the general characteristics of wheat is the defect of conversion (that is, yield declines as quality improves) help to explain why wheat production in South Africa has declined in recent years. This can also negatively affect prices received for produce because South African wheat prices are determined by the lowest import parity price and not by the specific quality of the wheat. The fact that market concentration has been observed in certain parts of the wheat industry in South Africa has raised concerns that this phenomenon could potentially have had a negative impact on the performance of the country‘s wheat production sector. Consequently, this study revolves around the following main questions: ―could the evident market concentration in the South African wheat industry influence the performance of the wheat production sector by prescribing certain quality standards which attract relatively low prices?‖, and if so, ―can the wheat quality standards and prices be held responsible for the decline in the industry‘s performance, and to what extent?‖ Both qualitative and quantitative approaches were used in pursuit to answer these questions. The qualitative approach was used to describe the theoretical basis of performance, competitiveness and concentration. Three different quantitative approaches were employed to determine the current state of competitiveness (Relative Trade Advantage (RTA) method), the factors influencing it (hedonic price model) and the extent of such influence (dynamic linear model). From the RTA, it was clear that South Africa is the only country, compared to its trading partners, that has an uncompetitive unprocessed (production) wheat sector alongside a competitive semi-processed (flour) wheat sector. The hedonic price model supported the finding that the institutional environment of the wheat industry uses quality-related mechanisms such as the cultivar release criteria to influence the competitiveness of the wheat production sector. Four comparisons were developed to determine whether the strict qualities required for the release of new cultivars are justified. It was found that with all four of these comparisons, the strict prescribed wheat quality was not justified in terms of the quality and demand considerations. It was found that when prescribed wheat quality could be relaxed to accommodate market supply and demand, an estimated 12.8 percent increase in yields could have been realised equating to a loss of approximately R606 million in Net Farm Income (NFI) per annum. When increasing this percentage to 20 percent, it was seen that the effect on NFI per annum would be R920 million. This study therefore provides evidence as to why the performance of the wheat industry has been declining over the last two decades and also contributes to the development of a framework for policy and decision makers which will encourage more competition and a freer market in terms of quality standards. Further contributions of this study lies in the body of literature on competitive behaviour by showing how concentrated industries can use statutory bodies to manipulate markets for rent-seeking purposes. It further shows how these decisions impact on important aspects like the profits of role players in an industry. / PhD (Agriculture, Economics), North-West University, Potchefstroom Campus, 2015

Statistics paint a picture of a wheat industry under severe pressure, with the number of hectares dedicated to wheat production that have decreased while imports notably increased since 1997. This has had a negative impact on the industry‘s global competitiveness. The direct and indirect linkages between wheat and wheat products, together with the benefits that the industry can bring to the economy in the form of heightened food security and employment opportunities, highlight the need for a competitive wheat industry in South Africa. Clearly, the underlying causes of the declining wheat production in South Africa need to be investigated and understood. The presence of strict wheat quality standards and the fact that one of the general characteristics of wheat is the defect of conversion (that is, yield declines as quality improves) help to explain why wheat production in South Africa has declined in recent years. This can also negatively affect prices received for produce because South African wheat prices are determined by the lowest import parity price and not by the specific quality of the wheat. The fact that market concentration has been observed in certain parts of the wheat industry in South Africa has raised concerns that this phenomenon could potentially have had a negative impact on the performance of the country‘s wheat production sector. Consequently, this study revolves around the following main questions: ―could the evident market concentration in the South African wheat industry influence the performance of the wheat production sector by prescribing certain quality standards which attract relatively low prices?‖, and if so, ―can the wheat quality standards and prices be held responsible for the decline in the industry‘s performance, and to what extent?‖ Both qualitative and quantitative approaches were used in pursuit to answer these questions. The qualitative approach was used to describe the theoretical basis of performance, competitiveness and concentration. Three different quantitative approaches were employed to determine the current state of competitiveness (Relative Trade Advantage (RTA) method), the factors influencing it (hedonic price model) and the extent of such influence (dynamic linear model). From the RTA, it was clear that South Africa is the only country, compared to its trading partners, that has an uncompetitive unprocessed (production) wheat sector alongside a competitive semi-processed (flour) wheat sector. The hedonic price model supported the finding that the institutional environment of the wheat industry uses quality-related mechanisms such as the cultivar release criteria to influence the competitiveness of the wheat production sector. Four comparisons were developed to determine whether the strict qualities required for the release of new cultivars are justified. It was found that with all four of these comparisons, the strict prescribed wheat quality was not justified in terms of the quality and demand considerations. It was found that when prescribed wheat quality could be relaxed to accommodate market supply and demand, an estimated 12.8 percent increase in yields could have been realised equating to a loss of approximately R606 million in Net Farm Income (NFI) per annum. When increasing this percentage to 20 percent, it was seen that the effect on NFI per annum would be R920 million. This study therefore provides evidence as to why the performance of the wheat industry has been declining over the last two decades and also contributes to the development of a framework for policy and decision makers which will encourage more competition and a freer market in terms of quality standards. Further contributions of this study lies in the body of literature on competitive behaviour by showing how concentrated industries can use statutory bodies to manipulate markets for rent-seeking purposes. It further shows how these decisions impact on important aspects like the profits of role players in an industry. / PhD (Agriculture, Economics), North-West University, Potchefstroom Campus, 2015

O preço de um imóvel é definido como um preço hedônico, visto que sua formação é dada através de um conjunto de atributos que consideram, além das características do próprio bem, tais como número de quartos, vagas na garagem, área privativa, entre outros; as características do bairro onde este imóvel está inserido. Existe uma demanda crescente por imóveis localizados em regiões com uso de solo misto, densificadas e com fácil acesso a serviços. Essas características estão fortemente vinculadas ao conceito de caminhabilidade. Juntamente com facilidade de acesso ao transporte público, desenho urbano que favoreça o deslocamento dos pedestres e segurança pública, formam as 6 dimensões da caminhabilidade utilizadas nesse estudo. Bairros com essas características estimulam viagens a pé e estima-se que haja uma valorização imobiliária de seus empreendimentos, com consumidores dispostos a pagar mais por imóveis residenciais localizados em regiões caminháveis. Para testar o impacto da caminhabilidade no valor do preço, foram utilizados modelos de equações estruturais. Eles permitem que conceitos como os de caminhabilidade e segurança pública, que não podem ser diretamente medidos (variáveis latentes), possam ser explicados por medidas observáveis que atuam como formadoras desses conceitos. Os resultados obtidos confirmam a hipótese, com o preço do metro quadrado de imóveis residenciais a venda crescendo conforme aumenta a caminhabilidade. A segurança pública demonstrou ser o fator mais importante na explicação da caminhabilidade e consequentemente na valorização do preço. / Sale price of a property is defined as a hedonic price, since its value is formed by a set of attributes that cover more than just characteristics of the product itself, such as number of rooms, parking spots and private area. There is a growing demand for properties located in areas with mixed land use, densified and with easy access to products and services. These characteristics are strongly linked to the concept of walkability, usually named as walkability dimensions. Neighborhoods with these features encourage commutes by walking and are likely to have a real estate valuation, with consumers willing to pay more for residential properties located in walkable areas. Structural equation models were used to test the impact of walkability on sales price. This methodology allows to quantify concepts as walkability and security, that could not be directly measured (latent variables), by using the observable variables that compose them. The results confirm the hypothesis that increase in walkability will also raise the sales price. Security has proven to be the most important factor in the walkability explanation and consequently in price appreciation.

<p>In this thesis I estimate a monetary value of the risk attached to living near a hazardous waste</p><p>site in the town of Teckomatorp. This site is the result of hundreds of rusty leaking barrels of</p><p>toxins being buried in the ground by the company BT Kemi in the 1970’s. Ever since then the</p><p>site has been remediated in several steps and is still contaminated today. For estimating the</p><p>perceived risk of living near this site I use a hedonic price model (HP) which is a form of a</p><p>revealed preference approach. In a HP model the price of a market good is a function of</p><p>different utility-bearing characteristics and the estimated parameters can be used to calculate</p><p>the implicit prices of these characteristics. In this case I use a data set from the National</p><p>Swedish Institute for Building Research (IBF) and regress property price on a number of</p><p>housing characteristics. I compare an estimated town-effect for Teckomatorp with the</p><p>estimates for two control towns: Billeberga and Anderslöv. I can confirm my hypothesis that,</p><p>after controlling for housing characteristics, there is a negative effect on prices of property in</p><p>Teckomatorp. I find that property prices are on average 46878 SEK lower in Teckomatorp</p><p>than in the two control towns.</p>

This thesis concerns two topics related to policy effects of hillside and ridgeline development in Knox County, TN and attempts to quantify the values of different aspects of forest land in the area, particularly how the amenity values of forest land affect the prices of surrounding houses. The first essay conducts a cost-benefit analysis to determine the willingness of individual landowners for reforestation given explicitly stated costs and benefits of reforestation. A sequence of hedonic models was used to estimate differences in non-use values attributable to deforested and to forested areas, allowing the establishment of an overall price-distance relationship between the amenity values attributable to both areas and their proximities to housing locations. The results showed that the benefits from reforestation were greater than the opportunity costs of barren/grassland replaced and the houses with the greatest gains from reforestation were within one mile of the target site. Amenity value benefits for reforestation vary between sites but the sites with the greatest gains were those with the largest area, the lowest land cost, and the most houses within one mile. The second essay examined the effects of forest views on house prices and also the effect that the economy had on consumers’ value of those views. This study applied a sales hedonic model to two time periods with markedly different economic climates, the housing boom of 2002-2006 and the recession of 2008. Amenity value gains from forest views were then mapped out for the county for both periods to find those areas that had the highest gains in both periods. The results showed that while the views of forest land increase house values in both periods, the average marginal implicit price gain decreased over 13 percent from the boom period to the recession. Maps of the value gains highlighted the south-western, eastern and northern parts of the county, which contain high income suburban communities, with consistent value gains in excess of $70 per acre.

This paper collects the data of bidding Price of the cost equivalent land in Pader reorganization area and Guopi reorganization area, Kaohsiung county. This empirical study applies model of Hedonic price, sets actual accepted bidding price and starting bid price per ping as dependent variables, and selects 11 independent variable to discuss the factors that the cost equivalent land in reorganization area would affect land bidding price and base price. In this research, we found that the accepted bidding price would increase NT$3,918 with the increasing road width per 1 meter. Corner lots have positive effect on both of starting bid price and accepted bidding price. The accepted bidding price of corner lots would be increased NT$19,160, which is 15.5% of average sample price. The positive effect also shows on commercial area; the accepted bidding price of commercial area would increase NT$24,374, which is 19.3% of average sample price. The lands which close to prosperity road have higher price than general area. Hedonic price model of accepted bidding price with the linear function shows that the bidding price of the area which closed to prosperity road would increase NT$58,139, which is 46.1% of average sample price. This research also shows the most significant factors for accepted bidding price are "Road width", "Corner lots", "Zoning Regulation", "Distributions of administrative district", and "Commercial area". On the other hand, the starting bidding prices which are set by government have significant factors on "width-Depth ratio", "corner lots", "Distance from the recent park", "Zoning Regulation", and "Distributions of administrative district. " There are diverse effects and ranges for land price.

This study employs the data from real estate transactions provided by the Department of Land Administration. This study uses the Hedonic Price method and the Difference-in-Difference method to analyze the impact of indoor and outdoor properties on housing prices. In our study, the properties of floor space, stories, age, proximity to MRT stations, and proximity to elementary schools are important factors affecting the housing prices. The results estimated by Difference-in-Difference method show that the coefficient on homes within 500 meters distance of the MRT stations and the coefficient after MRT operating are both significantly positive on housing prices. Although the coefficient on the interaction term is positive, it is not statistically significant.

Housing price studies is the first step of housing market analysis. Prices are determined at the intersection point of supply and demand curves, which determine equilibrium point that represents equilibrium price and quantity level. At a point in time demand factors are more important in determining the prices because short-run supply curve is almost vertical. However, in the long run supply of housing, and its certain attributes, will increase if price premium arises in the previous periods. In most of the studies, house prices are analyzed by using hedonic price index technique, which enables us to have information about the demand side of housing sector. In the hedonic price framework, heterogeneous goods are considered as aggregations of characteristics, and implicit marginal prices for these characteristics are calculated. When &lsquo / Hedonic Price Analysis&rsquo / is applied to the housing sector, it shows us the price of each housing attribute and gives information about the preferences and willingness to pay of the people for each attribute. Therefore, at the end of such an analysis it is possible to see which attributes are valued most by house buyers in the city. The aim of this thesis is to reveal the implicit prices of housing attributes in the housing market of Ankara, for the year 2006, with the purpose of gaining more information about the demand side of the housing sector. For this purpose, hedonic pricing method is used with the data that are extracted from appraisal reports which include information about main attributes and estimated price of each dwelling unit.

Real estate is one of the reliable and important investment types for individuals and institutions. Interest in the price appraisal of real estate has increased with rapid development of real estate sector and its legal infrastructure in recent years. Conducting planned urbanization, choosing settlement areas and estimating their inner or outer transport costs, improving capital markets transparency, and reliability require a reliable price valuation of real estate assets. Appraisal in real estate is also important for the tax income of the national budget. In this thesis, it is investigated appraisal methods that are used in various countries and valuation approaches and methods that are used in Turkey are reviewed. The value, in the appraisal reports, is estimated with three traditional approaches: Sales Comparison, Cost, and Income Capitalization. In this thesis, Hedonic Price Approach and the availability of the application of this method in practice are investigated within the framework of seeking an alternative method for appraisal beyond three traditional approaches.

In this thesis I estimate a monetary value of the risk attached to living near a hazardous waste site in the town of Teckomatorp. This site is the result of hundreds of rusty leaking barrels of toxins being buried in the ground by the company BT Kemi in the 1970’s. Ever since then the site has been remediated in several steps and is still contaminated today. For estimating the perceived risk of living near this site I use a hedonic price model (HP) which is a form of a revealed preference approach. In a HP model the price of a market good is a function of different utility-bearing characteristics and the estimated parameters can be used to calculate the implicit prices of these characteristics. In this case I use a data set from the National Swedish Institute for Building Research (IBF) and regress property price on a number of housing characteristics. I compare an estimated town-effect for Teckomatorp with the estimates for two control towns: Billeberga and Anderslöv. I can confirm my hypothesis that, after controlling for housing characteristics, there is a negative effect on prices of property in Teckomatorp. I find that property prices are on average 46878 SEK lower in Teckomatorp than in the two control towns.