Professional Documents
Culture Documents
PRICING
METHODE
HPM
VALUASI EKONOMI
Trying to evaluate environmental values
from an economic perspective was then …..
2. Of or relating to hedonism or
hedonists.
He·don·ism
1. Pursuit of or devotion to pleasure, especially to
the pleasures of the senses.
2. Philosophy : The ethical doctrine holding that
only what is pleasant or has pleasant
consequences is intrinsically good.
3. Psychology: The doctrine holding that behavior
is motivated by the desire for pleasure and the
avoidance of pain.
DEFINISI HEDONIK
Derived from the philosophy of hedonism (that happiness
is the chief good in life), the notion that value is ultimately
dependent on the satisfaction of wants and needs.
The word hedonic is most often used together with the
word price, as in hedonic price.
This suggests the view that price is based on the
satisfaction generated by consuming a good, regardless of
the source of the satisfaction.
This notion of hedonic is closely related to, and largely
indistinguishable from, the more common concept of
utility.
Definition:
Hedonic means of or relating to utility.
(pleasure---- kesenangan --- kepuasan - utilitas)
…….. Pemenuhan kebutuhan ………..
V = βo + βi Xi + Є
Weaknesses:
1. Difficulties exist with correlation
2. Very sensitive to the choice of functional form
3. Very sensitive to the definition of the extent of the market
4. Suffer from econometric identification problems.
HEDONIC PRICING MODEL
A hedonic model does not necessarily separate all the factors that
could be separated, only those that affect the usefulness to a
buyer of what is being sold.
A good model should also separate out other factors: for example,
a model of house prices should also separate out interest rates.
HPM: Fungsi faktor
Fungsi hedonic price, dapat dijelaskan mengenai faktor-
faktor yang dapat mempengaruhi harga sebuah rumah (Ph)
dapat dipengaruhi oleh:
So Price Function (P) = f (s1, s2, s3...sj; n1, n2, n3,...nj; e1, e2,
e3,...ej)
This function could be linear or non-linear. The prices may change
at an increasing or decreasing rate when the characteristics
change.
When you now differentiate the price function with respect to any one of the
above characteristics, the implicit price function for that particular characteristic
is yielded. It is considered implicit because the price function is indirectly
revealed to us by what the people are willing to pay in order to obtain better
quality or quantities of the characteristic.
HPM: APLIKASINYA
In the second stage, these implicit prices are regressed
against the actual quantities/qualities chosen by the
people in order to attain the marginal willingness to pay
for the amenity.
Tujuan dari percobaan pembuatan dodol tape pisang adalah untuk mengetahui tingkat
kesukaan masyarakat terhadap dodol tape pisang, serta untuk mengetahui prospek usaha
dodol tape pisang ditinjau dari harga jualnya.
Untuk mengatahui tingkat kesukaan masyarakat terhadap dodol tape pisang adalah dengan
uji organoleptik. Uji organoleptik dilakukan dengan uji hedonik (kesukaan) oleh
panelis tidak terlatih sebanyak 80 orang.
Hasil penilaian dodol tape pisang oleh 80 orang panelis menunjukkan bahwa aspek warna
dodol tape pisang banyak disukai masyarakat dengan prosentase 76,25%, aspek rasa dodol
tape pisang banyak disukai masyarakat dengan prosentase 76,56%, aspek aroma dodol tape
pisang banyak disukai masyarakat dengan prosentase 75,93%, dan aspek tekstur cukup
disukai masyarakat dengan prosentase 65,63%.
Hasil analisis data proses produksi menunjukkan bahwa total biaya produksi adalah Rp
10.644.606,00. Harga jual dodol tape pisang dihitung berdasarkan perolehan laba 10% dari
biaya variabel yang dikeluarkan dalam satu kali produksi sebanyak 42,5 kg. Harga jual dodol
tape pisang per kg adalah Rp 8.400,00 sedangkan harga jual dodo, tape pisang per 500 g
adalah Rp 4.200,00. pencapaian BEP setelah memproduksi sebanyak 13.963 kg, yang dapat
dicapai setelah melakukan
Pengaruh Motif Berbelanja Konsumen terhadap Pengambilan
Keputusan Pembelian pada Hypermart MATOS (Studi pada
Mahasiswa Fakultas Ekonomi Universitas Negeri Malang).
Nur Hamidah, Sudarmiatin dan Lohana Juariyah, 2010.
Program Studi Manajemen Pemasaran. Fakultas Ekonomi Universitas Negeri Malang.
Belanja merupakan kegiatan yang menyenangkan bagi sebagian orang dan juga merupakan
salah satu kegiatan rekreasi pada masyarakat dewasa ini. Berbeda dengan beberapa tahun
lalu, sekarang kegiatan belanja bukan hanya sebagai aktivitas rutin untuk memenuhi
barang-barang kebutuhan, tetapi sering kali kegiatan belanja menjadi hiburan untuk
menghilangkan kejenuhan dari aktivitas sehari-hari yang dilakukan.
Tujuan dari penelitian ini adalah untuk mengetahui (I) Deskripsi motif berbelanja konsumen
dan pengambilan keputusan pembelian di Hypermart Malang Town Square (2) Pengaruh
signifikan motif berbelanja (utilitarian shopping motives dan hedonic shopping motives)
secara parsial terhadap pengambilan keputusan pembelian di Hypermart Malang Town
Square. (3) Pengaruh signifikan motif berbelanja (utilitarian shopping motives dan hedonic
shopping motives) secara simultan terhadap pengambilan keputusan pembelian di
Hypermart Malang Town Square.
Penelitian ini merupakan penelitian deskriptif korelasional. Pada penelitian ini, variabel
bebas (X) yaitu motif berbelanja yang terdiri dari dua subvariabel yaitu utilitarian shopping
motives) dan hedonic shopping motives. Sedangkan variabel terikatnya (Y) adalah
pengambilan keputusan pembelian.
Pengaruh Motif Berbelanja Konsumen terhadap Pengambilan Keputusan
Pembelian pada Hypermart MATOS (Studi pada Mahasiswa Fakultas Ekonomi
Universitas Negeri Malang).
Nur Hamidah, Sudarmiatin dan Lohana Juariyah, 2010.
Program Studi Manajemen Pemasaran. Fakultas Ekonomi Universitas Negeri Malang.
Populasi dalam penelitian ini adalah Mahasiswa Fakultas Ekonomi Universitas Negeri Malang yang
pernah berbelanja di Hypermart MATOS, yang jumlahnya tak terhingga. Untuk menentukan sampel
digunakan rumus Daniel and Terrel, dengan tingkat kesalahan sebesar 0,05.
Hasil penelitian menyimpulkan bahwa sebagian besar responden memiliki motif belanja utilitarian
shopping motives dan hedonic shopping motives. Sebagian besar responden adalah mahasiswa
Manajemen angkatan 2007 dengan jenis kelamin perempuan. Responden berbelanja minimal 1 kali
dalam sebulan pada waktu sore dan malam hari. Meskipun keputusan pembelian konsumen dapat
dipengaruhi oleh hedonic shopping motives, namun utilitarian shopping motives tetap memiliki
pengaruh yang besar. Sebagian besar responden laki-laki memiliki motif belanja utilitarian shopping
motives.
Untuk menarik konsumen tipe hedonic shopping motives, perusahaan perlu menciptakan suasana
belanja yang nyaman dan menyenangkan sehingga konsumen akan betah berlama-lama di Hypermart.
Pemberian diskon, produk yang mengikuti tren dan mode terbaru juga dapat menarik konsumen tipe
hedonic shopping motives.
A Critical Review of Literature on the Hedonic Price Model
and Its Application to the Housing Market in Penang
The hedonic price model, derived mostly from Lancaster’s (1966) consumer theory and
Rosen’s (1974) model, posits that a good possesses a myriad of attributes that combine to
form bundles of utility-affecting attributes that the consumer values.
The results show that all the coefficients are highly significant and of the expected sign.
The empirical results also suggest that condominium units in Penang are very
homogeneous, which is a very desirable characteristic for application of the hedonic price
model.
However, because preferred housing attributes may vary according to cultural and
idiosyncratic factors, the attributes identified in previous studies, mostly in western
countries, may not be sufficient in formulating the hedonic price models in Penang. There
may be other attributes that are not significant in markets in western countries but
significant in Penang.
The hedonic price method in real estate and housing market
research. A review of the literature.
Herath, Shanaka and Maier, Gunther (2010)
SRE - Discussion Papers, 2010/03. WU Vienna University of Economics and Business,
Vienna.
The Hedonic Price Method (HPM), also known as hedonic regression, is used for estimating the value
of a commodity or the demand for a commodity. The HPM has been extensively used in real estate
and housing market research in the recent past. In this paper, we discuss theoretical and
methodological developments related to hedonic regression and undertake an examination of use of
this methodology in the recent real estate and housing literature. We first define the HPM, and
explain the fundamentals behind the methodology.
The idea behind the HPM is that the commodities are characterized by their constitute properties,
hence the value of a commodity can be calculated by adding up the estimated values of its separate
properties. In the second part of the paper, we emphasise that the heterogeneous nature of real
estate property justifies the use of HPM for estimating their value or demand. We also take a stock
of most cited empirical studies on real estate and housing using the HPM, and classify those into
several categories.
The classification indicates that neighbourhood characteristics of real estate are relatively over-
researched as a determinant of price or rent. It also shows that implicit value of structural
characteristics is under-researched. In general, implicit value of environmental amenities in the
neighbourhood and air pollution are relatively overresearched. The effect of social factors, i.e. racial
segregation and crimes on real estate value is under-researched.
ESTIMATION OF A HEDONIC PRICING MODEL FOR MEDIGAP INSURANCE
John Robst
Health Serv Res. 2006 December; 41(6): 2097–2113.
This paper uses a unique database to examine premiums paid by beneficiaries for Medigap
supplemental coverage. Average premiums charged by insurers are reported, as well as
premiums by enrollee age and gender, and additional policy characteristics. Marginal prices
for Medigap benefits are estimated using hedonic price regressions. In addition, the paper
considers how additional policy characteristics and geographic differences in the use and
cost of medical care affect premiums.
Hedonic pricing equations are used to estimate implicit prices for Medigap benefits.
With the exceptions of the part B deductible and drug benefit, Medigap supplemental
insurance is priced consistent with the actuarial value of benefits offered under the
standardized plans. Premiums vary substantially based on rating method, whether the
policy is guaranteed issue, Medigap Select, or explicitly for smokers. Premiums increase
with enrollee age, but do not vary between men and women.
The relationship between premiums and enrollee age varies across rating methods.
Attained-age policies show the strongest relationship between age and premiums, while
community-rated premiums, by definition, do not vary with age. Medigap supplemental
insurance premiums are higher in states with poorer health, greater utilization, and greater
managed care penetration.
THE AMENITY VALUE OF ENGLISH NATURE: A HEDONIC PRICE APPROACH
Steve Gibbons, Susana Mourato, Guilherme Resende
Spatial Economics Research Centre, LSE in its series SERC Discussion Papers with number 0074, 2011.
Using a hedonic property value price approach, we estimate the amenity value associated with
proximity to habitats, designated areas, domestic gardens and other natural amenities in England.
There is a long tradition of studies looking at the effect of a wide range of environmental amenities and
disamenities on property prices. But, to our knowledge, this is the first nationwide study of the value of
proximity to a large number of natural amenities in England.
We analysed 1 million housing transactions over 1996-2008 and considered a large number of
environmental characteristics.
Results reveal that the effects of many of these environmental variables are highly statistically
significant, and are quite large in economic magnitude. Gardens, green space and areas of water within
the census ward all attract a considerable positive price premium. There is also a strong positive effect
from freshwater and flood plain locations, broadleaved woodland, coniferous woodland and enclosed
farmland. Increasing distance to natural amenities such as rivers, National parks and National Trust
sites is unambiguously associated with a fall in house prices. Our preferred regression specifications
control for unobserved labour market and other geographical factors using Travel to Work Area fixed
effects, and the estimates are fairly insensitive to changes in specification and sample.
This provides some reassurance that the hedonic price results provide a useful representation of the
values attached to proximity to environmental amenities in England. Overall, we conclude that the
house market in England reveals substantial amenity value attached to a number of habitats,
designations, private gardens and local environmental amenities.
HEDONIC PRICE EFFECTS OF PEDESTRIAN- AND TRANSIT-ORIENTED
DEVELOPMENT
Keith Bartholomew
Department of City & Metropolitan Planning, University of Utah, Salt Lake City, UT,
USA, bartholomew@arch.utah.edu
Reid Ewing
Department of City & Metropolitan Planning, University of Utah, Salt Lake City, UT, USA
Recent consumer surveys and demographic analyses have indicated a growing market for
pedestrian- and transit-designed development. Theoretically, this market shift should be
reflected in the price people are willing to pay for those styles of development.
This article traces the literature that uses hedonic price methods for testing this hypothesis,
either by assessing pedestrian/transit-design development holistically or by evaluating its
component parts.
The literature confirms that the market shift is, indeed, being capitalized into real estate
prices and demonstrates that the amenity-based elements of transit-designed
development play an important positive role in urban land markets, independent of the
accessibility benefits provided by transit.