IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v3y1996i7p435-440.html
   My bibliography  Save this article

Hedonic prices for environmental and safety characteristics and the Akerlof effect in the French car market

Author

Listed:
  • C. Couton
  • F. Gardes
  • Y. Thepaut

Abstract

In this paper, the computation of hedonic prices on individual panel data shows the positive valuation of environmental and safety characteristics by the market and gives some evidence of an Akerlof effect between perceived quality and the part of the market price which is not explained by car characteristics and pure inflation.

Suggested Citation

  • C. Couton & F. Gardes & Y. Thepaut, 1996. "Hedonic prices for environmental and safety characteristics and the Akerlof effect in the French car market," Applied Economics Letters, Taylor & Francis Journals, vol. 3(7), pages 435-440.
    • Handle: RePEc:taf:apeclt:v:3:y:1996:i:7:p:435-440
    DOI: 10.1080/758540801
    as

    Download full text from publisher

    File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/758540801&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/758540801?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ohta, Makoto & Griliches, Zvi, 1986. "Automobile Prices and Quality: Did the Gasoline Price Increases Change Consumer Tastes in the U.S.?," Journal of Business & Economic Statistics, American Statistical Association, vol. 4(2), pages 187-198, April.
    2. Ohta, Makoto, 1987. "Gasoline Cost and Hedonic Price Indexes of U.S. Used Cars for 1970-1983," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(4), pages 521-528, October.
    3. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    4. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    5. Bartik, Timothy J, 1987. "The Estimation of Demand Parameters in Hedonic Price Models," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 81-88, February.
    6. repec:bla:econom:v:42:y:1975:i:165:p:43-58 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ebru Caglayan Akay & mer Faruk Bolukbasi & Engin Bekar, 2018. "Robust and Resistant Estimations of Hedonic Prices for Second Hand Cars: an Application to the Istanbul Car Market," International Journal of Economics and Financial Issues, Econjournals, vol. 8(1), pages 39-47.
    2. Prieto, Marc & Caemmerer, Barbara & Baltas, George, 2015. "Using a hedonic price model to test prospect theory assertions: The asymmetrical and nonlinear effect of reliability on used car prices," Journal of Retailing and Consumer Services, Elsevier, vol. 22(C), pages 206-212.
    3. Okay Gunes, 2017. "Hedonic Recommendations: An Econometric Application on Big Data," Documents de travail du Centre d'Economie de la Sorbonne 17061, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    4. Ramírez Muñoz de Toro, Gonzalo R. & Uriarte, Juan I. & Delbianco, Fernando & Larrosa, Juan M.C., 2017. "Un modelo hedónico de precios en línea de automóviles usados en Argentina || A Hedonic Model of Online Prices of Used Cars in Argentina," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 24(1), pages 25-53, Diciembre.
    5. Okay Gunes, 2017. "Hedonic Recommendations: An Econometric Application on Big Data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01673355, HAL.
    6. G Baltas & C Saridakis, 2010. "Measuring brand equity in the car market: a hedonic price analysis," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 61(2), pages 284-293, February.
    7. Sylvain M. Prado, 2009. "The European used-car market at a glance: Hedonic resale price valuation in automotive leasing industry," Economics Bulletin, AccessEcon, vol. 29(3), pages 2086-2099.
    8. Nicolas Vaillant & Philippe Lesot & Quentin Bonnard & Valerie Harrant, 2010. "The use of expert opinion, quality and reputation indicators by consumers: evidence from the French vaulting stallion semen market," Applied Economics, Taylor & Francis Journals, vol. 42(6), pages 739-745.
    9. Galarraga, Ibon & González-Eguino, Mikel & Markandya, Anil, 2011. "Willingness to pay and price elasticities of demand for energy-efficient appliances: Combining the hedonic approach and demand systems," Energy Economics, Elsevier, vol. 33(S1), pages 66-74.
    10. Fullerton, Don & West, Sarah E., 2002. "Can Taxes on Cars and on Gasoline Mimic an Unavailable Tax on Emissions?," Journal of Environmental Economics and Management, Elsevier, vol. 43(1), pages 135-157, January.
    11. José Moraga-González & Noemi Padrón-Fumero, 2002. "Environmental Policy in a Green Market," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(3), pages 419-447, July.
    12. Ibon Galarraga & David Heres Del Valle & Mikel González-Eguino, 2011. "Price Premium for High-Efficiency Refrigerators and Calculation of Price-Elasticities for Close-Substitutes: Combining Hedonic Pricing and Demand Systems," Working Papers 2011-07, BC3.
    13. Okay Gunes, 2017. "Hedonic Recommendations: An Econometric Application on Big Data," Post-Print halshs-01673355, HAL.
    14. Wells, Peter & Varma, Adarsh & Newman, Dan & Kay, Duncan & Gibson, Gena & Beevor, Jamie & Skinner, Ian, 2013. "Governmental regulation impact on producers and consumers: A longitudinal analysis of the European automotive market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 47(C), pages 28-41.
    15. Guillaume Gaulier & Séverine Haller, 2000. "The Convergence of Automobile Prices in the European Union: an Empirical Analysis for the Period 1993-1999," Working Papers 2000-14, CEPII research center.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sylvain M. Prado, 2009. "The European used-car market at a glance: Hedonic resale price valuation in automotive leasing industry," Economics Bulletin, AccessEcon, vol. 29(3), pages 2086-2099.
    2. Pierre-Charles Pradier & François Gardes & Xavier Greffe & Ileana Miranda Mendoza, 2016. "Autographs and the global art market: the case of hedonic prices for French autographs (1960–2005)," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 40(4), pages 453-485, November.
    3. Reis, Hugo J. & Santos Silva, J.M.C., 2006. "Hedonic prices indexes for new passenger cars in Portugal (1997-2001)," Economic Modelling, Elsevier, vol. 23(6), pages 890-908, December.
    4. Helen Tauchen & Ann Dryden Witte, 2001. "Estimating Hedonic Models: Implications of the Theory," NBER Technical Working Papers 0271, National Bureau of Economic Research, Inc.
    5. Maristella Botticini & Aloysius Siow, 2003. "Why Dowries?," American Economic Review, American Economic Association, vol. 93(4), pages 1385-1398, September.
    6. Suqin Ge & João Macieira, 2024. "Unobserved Worker Quality and Inter‐Industry Wage Differentials," Journal of Industrial Economics, Wiley Blackwell, vol. 72(1), pages 459-515, March.
    7. Sagebiel, Julian & Müller, Jakob R. & Rommel, Jens, 2013. "Are Consumers Willing to Pay More for Electricity from Cooperatives? Results from an Online Choice Experiment in Germany," MPRA Paper 52385, University Library of Munich, Germany.
    8. Jansen, Marion & de Faria, André Lince, 2002. "Product labeling, quality and international trade," WTO Staff Working Papers DERD-2002-01, World Trade Organization (WTO), Economic Research and Statistics Division.
    9. Petrov, Ivan & Ryan, Lisa, 2021. "The landlord-tenant problem and energy efficiency in the residential rental market," Energy Policy, Elsevier, vol. 157(C).
    10. Ko, Kate, 2009. "Home Prices and Urban Corridors," 50th Annual Transportation Research Forum, Portland, Oregon, March 16-18, 2009 207607, Transportation Research Forum.
    11. Steve Gibbons & Stephan Heblich & Esther Lho & Christopher Timmins, 2016. "Fear of Fracking? The Impact of the Shale Gas Exploration on House Prices in Britain," SERC Discussion Papers 0207, Centre for Economic Performance, LSE.
    12. Amelia Bilbao & Celia Bilbao & José M. Labeaga, "undated". "The excess burden associated to characteristics of the goods: Application to housing demand," Working Papers 2005-09, FEDEA.
    13. Richard K. Green & Patric Hendershott, 1992. "Demographic Factors and Real House Prices," Wisconsin-Madison CULER working papers 92-08, University of Wisconsin Center for Urban Land Economic Research.
    14. Christian Almer & Stefan Boes & Stephan Nüesch, 2017. "Adjustments in the housing market after an environmental shock: evidence from a large-scale change in aircraft noise exposure," Oxford Economic Papers, Oxford University Press, vol. 69(4), pages 918-938.
    15. Bejranonda, Somskaow & Hitzhusen, Frederick J. & Hite, Diane, 1999. "Agricultural Sedimentation Impacts On Lakeside Property Values," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 28(2), pages 1-11, October.
    16. Gravel, Nicolas & Oddou, Rémy, 2014. "The segregative properties of endogenous jurisdiction formation with a land market," Journal of Public Economics, Elsevier, vol. 117(C), pages 15-27.
    17. Jose Torres-Pruñonosa & Pablo García-Estévez & Josep Maria Raya & Camilo Prado-Román, 2022. "How on Earth Did Spanish Banking Sell the Housing Stock?," SAGE Open, , vol. 12(1), pages 21582440221, March.
    18. Paolo Buonanno & Daniel Montolio & Josep Raya-Vílchez, 2013. "Housing prices and crime perception," Empirical Economics, Springer, vol. 45(1), pages 305-321, August.
    19. repec:hal:spmain:info:hdl:2441/4kovgv3hs883bok2tvdkibejb6 is not listed on IDEAS
    20. Petrick, Martin & Latruffe, Laure, 2003. "Credit access and borrowing costs in Poland's agricultural credit market: a hedonic pricing approach," IAMO Discussion Papers 46, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    21. Grislain-Letrémy, Céline & Katossky, Arthur, 2014. "The impact of hazardous industrial facilities on housing prices: A comparison of parametric and semiparametric hedonic price models," Regional Science and Urban Economics, Elsevier, vol. 49(C), pages 93-107.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:3:y:1996:i:7:p:435-440. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.