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Copyright of Revista Producao Online is the property of Associacao Brasileira de Engenharia de Producao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We examine the role of information disclosure in the housing market, offering both theory and evidence for observed variability in disclosure strategies among property listings in a multiple listing service (MLS). Our initial empirical findings and the theoretical literature suggest a positive link between information disclosure (e.g., number of photos) and marketing outcomes (e.g., sale price, liquidity). While intuitive, it raises an interesting puzzle: why then do some agents disclose less information? Analytically, we show that it can be optimal to omit information in some circumstances, particularly when homes are more heterogeneous or have greater scope for taste-specific attributes. Empirically, the data support the prediction that less information disclosure is beneficial for a large subsample of properties (i.e., high-end homes). Our results also reveal scope for new principal-agent issues, as agents generally disclose less when they market their own homes, and even less for their higher-end homes when it is a more optimal strategy. [ABSTRACT FROM AUTHOR]

The present paper discusses the heterogeneity of the apartment market. For this purpose, we have developed the model for the mass valuation of apartments in the Republic of Slovenia. The construction of the mass valuation model is based on the generalised additive model approach. In this paper, the development of the model is presented. In the experimental part, the analysis of the results of the two models is performed. The dependent variable (the price of an apartment) is distributed according to the Gaussian and the gamma distributions. Particular attention has been paid to the impact of the transaction time on the apartments’ transaction value. The results of the model are also compared with the results of the mass valuation model in the Republic of Slovenia, which is carried out cyclically and iteratively, the results of which depend on the results (and mass valuation models) of previous cycles.

According to the regulations of the Chinese government, tenants of public rental housing (PRH) can purchase their dwellings after a certain amount of time. However, since different regulations are enforced by individual local governments and the Chinese government’s policies regarding sale prices are incomplete, it is difficult to determine appropriate sale prices. In order to cope with this challenge, we suggest a hybrid framework introducing residual income approach and inverse distance weight (IDW) interpolation method to determine the sale price. Variables considered to develop the framework are housing payment ability, neighborhood house’s price, and distance from nearby residential buildings. To validate the proposed framework, the sale price of PRH in Chongqing is determined and then evaluated using cost–benefit analysis. The analysis results show that the model can present a reasonable sale price given that the net benefit is more than 0 when the sale price is 557 USD/m2.

Retailers like to use different colors to present the sale price and original price when they are presenting a promotion price. How does the inconsistent color presentation of the prices influence consumers’ purchase likelihood? The extant research does not consider this question. This article will address this question. Drawing on incongruence theory and the persuasion knowledge model (PKM), this article proposes that when the color of the sale price is inconsistent (vs. consistent) with that of the original price, consumers show less preference for the sale price. The reason is that consumers perceive the price as being less trustworthy, which leads to a lower purchase likelihood. Furthermore, this effect is affected by the brand awareness of products. Specifically, when products are less-known brands, the inconsistent (vs. consistent) colors of the sale price and original price will lead to a lower purchase likelihood. In contrast, when products are well-known brands, the inconsistent (vs. consistent) colors of the sale price and original price will lead to a high purchase likelihood. In this article, four studies are used to verify these hypotheses, and implications of theory and practice of the present research are discussed.

Retailers like to use different colors to present the sale price and original price when they are presenting a promotion price. How does the inconsistent color presentation of the prices influence consumers' purchase likelihood? The extant research does not consider this question. This article will address this question. Drawing on incongruence theory and the persuasion knowledge model (PKM), this article proposes that when the color of the sale price is inconsistent (vs. consistent) with that of the original price, consumers show less preference for the sale price. The reason is that consumers perceive the price as being less trustworthy, which leads to a lower purchase likelihood. Furthermore, this effect is affected by the brand awareness of products. Specifically, when products are less-known brands, the inconsistent (vs. consistent) colors of the sale price and original price will lead to a lower purchase likelihood. In contrast, when products are well-known brands, the inconsistent (vs. consistent) colors of the sale price and original price will lead to a high purchase likelihood. In this article, four studies are used to verify these hypotheses, and implications of theory and practice of the present research are discussed. [ABSTRACT FROM AUTHOR]

The present paper discusses the heterogeneity of the apartment market. For this purpose, we have developed the model for the mass valuation of apartments in the Republic of Slovenia. The construction of the mass valuation model is based on the generalised additive model approach. In this paper, the development of the model is presented. In the experimental part, the analysis of the results of the two models is performed. The dependent variable (the price of an apartment) is distributed according to the Gaussian and the gamma distributions. Particular attention has been paid to the impact of the transaction time on the apartments’ transaction value. The results of the model are also compared with the results of the mass valuation model in the Republic of Slovenia, which is carried out cyclically and iteratively, the results of which depend on the results (and mass valuation models) of previous cycles. [ABSTRACT FROM AUTHOR]

How exactly does the display location of a sale price relative to the original price affect consumers' evaluations? Across multiple studies, including field studies with actual choices and studies with nonstudent samples, this article shows that consumer evaluations are a function of the display location of the sale price, but such evaluations are moderated by discount depth. First, presenting the smaller number to the right (vs. left) makes it easier to initiate the subtraction task, a phenomenon the authors refer to as the "subtraction principle." Second, given that evaluating sale prices inherently involves a subtraction task, locating sale prices to the right (vs. left) of the original price facilitates calculation of discount depth, increasing evaluations for moderate discounts but not for low discounts. These effects are potentially reversed in cases of both very low discounts and exaggerated discounts. The findings in this article offer novel and nonintuitive insights into how sale price display locations and discount depth interact to influence numerical cognitions, processing of sale prices, and subsequent evaluations. [ABSTRACT FROM AUTHOR]

Copyright of Inonu University Law Review / İnönü Üniversitesi Hukuk Fakültesi Dergisi is the property of Inonu University Law Review (IULR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Valuation Journal / Revista de Evaluare is the property of National Association of Romanian Valuers / Asociatiei Nationale a Evaluatorilor din Romania (ANEVAR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The number of new homes built in China in 2014 doubled compared to 2004, while Korea has built more than 3000 units every year since 2004 and Japan has built more than 6000 new units. Apartments account for 60% of homes in Korea, so it is anticipated that apartment construction projects will not cease in Korea. The current company assumes that the sale rate (pre-sale rate) of apartments may be completely controlled by the pre-sale prices. The study calculated appropriate pre-sale prices to maximize the revenue of companies based on that assumption. For that purpose, the study identified the factors affecting the pre-sale prices and analyzed its correlation with the pre-sale prices based on the apartments located in Seoul, Korea. As a result of the analysis, it was found that the pre-sale prices of apartments are correlated with the number of apartment complexes, local rates, and local development level. The final result of the study suggested a way to calculate the sale prices using the factors that are thought to be correlated with the pre-sale prices. A simulation model was created using the method. When tested, it yielded an average deviation rate of 10.32%. The current study will contribute to preventing the economic losses that may be caused by apartment construction projects.

The paper is devoted to the relevant issue of assessing the level of financial risk of agricultural enterprises. The authors present the results of the study of time series of production volumes and average market prices for livestock products in Russia. The result of the study of time series was a statistical assessment of the probabilistic characteristics of these data, the development of economic and mathematical models of their dynamics. The obtained results were used while forecasting the market movement and the volume of production of livestock products, which in turn became the basis for prognosis evaluation of the level of financial risk of agribusinesses. The authors have simulated a quantitative liquidity risk assessment for agricultural enterprises producing livestock products. The obtained results can be used by producers in the system of planning the activity of agricultural organizations. At the same time, planning the indicators of production and sales of livestock products on the basis of a predictive assessment of the level of financial risk will allow producers to develop in advance effective measures to reduce the possible level of losses and improve production efficiency. [ABSTRACT FROM AUTHOR]

Increasing climate change as well as the evolution of agricultural prices have led to important changes in the structure of crops cultivated predominantly in Romanian farms. If in the past the Romanian agricultural producer does not have a great deal of openness to the new technologies, as well as to new crops like sorghum and rapeseed ten years ago, it is noticed that, with Romania joining the EU, 2007, things they changed. By increasingly contacting European farmers with a much better yield per hectare, but also opening up to new technologies and the attractive price of oil crops, Romanian farmers have begun to focus their attention on far more attractive crops than In terms of sales prices and the application of new technologies to help them achieve high output to cope with European competition. By interpreting the statistical data provided by the National Institute of Statistics and Eurostat, a comparative analysis of the import and export of sorghum and barley was carried out in the light of the pre-accession and post-accession EU production to observe whether these crops provide a high level of profitability and if it is justified to cultivate them on extended surfaces. Although there is still much to be done in this area, we see that investing in high performance technologies and equipment, in quality inputs and hybrids, is a way of generating production levels comparable to those recorded at European level. [ABSTRACT FROM AUTHOR]

This paper examines a specific segment of the housing markets from Central and Eastern European countries, namely the stock of flats in the urban area. With focus on Romania, we emphasize the improvements made by owners and authorities, aimed to enhance the quality of life and the maintenance of old blocks of flats; are highlighted some aspects regarding the cost of these improvements. In addition, the empirical section investigates whether and to what extent the improvements made to the flats and buildings have a significant effect on sale prices and rental prices. The marginal prices of these attributes are provided by hedonic pricing models, estimated in a generalized linear model framework; gamma and log-linear regression models perform in a similar way in terms of fit and prediction accuracy. The physical condition of the building and finishing works inside the flats, as variables of interest in our models, have a significant effect on sale and rental prices, but with different intensity. A common set of significant attributes, in the hedonic models for both sale and rental price, is suggested.

This paper presents mathematical relationships that allow forecast of the estimated sale price of new container ships, based on data concerning vessels built in 2005-2015. The presented approximations allow estimation of the price based on deadweight capacity (DWT) or the number of containers the ship will carry (TEU). The approximations were developed using linear regression and the theory of artificial neural networks. The presented relations have practical relevance in the estimation of container ship sale price needed in transport studies or preliminary parametric design of the ship. It follows from the above that the use of artificial neural networks to predict the price of a container ship brings more accurate solutions than linear regressions. [ABSTRACT FROM AUTHOR]

This paper examines a specific segment of the housing markets from Central and Eastern European countries, namely the stock of flats in the urban area. With focus on Romania, we emphasize the improvements made by owners and authorities, aimed to enhance the quality of life and the maintenance of old blocks of flats; are highlighted some aspects regarding the cost of these improvements. In addition, the empirical section investigates whether and to what extent the improvements made to the flats and buildings have a significant effect on sale prices and rental prices. The marginal prices of these attributes are provided by hedonic pricing models, estimated in a generalized linear model framework; gamma and log-linear regression models perform in a similar way in terms of fit and prediction accuracy. The physical condition of the building and finishing works inside the flats, as variables of interest in our models, have a significant effect on sale and rental prices, but with different intensity. A common set of significant attributes, in the hedonic models for both sale and rental price, is suggested. [ABSTRACT FROM PUBLISHER]

An investigation was conducted to analyse the growth potential and trends in sale price of dairy bull calves in Kerala. The daily weight gain and price per kg live weight were averaged 326. llg and Rs. 84.20, respectively. The age group had a highly significant (p<0.01) influence on the average daily weight gain and was the highest in the one to two year age group. The bulls in the one to two year age group fetched 130.71 % more sale price when compared to one year age group. The annual rate of increase in the per kilogram live weight price was 10.97 %. [ABSTRACT FROM AUTHOR]

Abstract: This paper investigates the relationship between the list and sale price of residential properties over the housing cycle. In down or normal markets the list price generally exceeds the sales price; however, when the housing market is strong, homes sell for more than their list price. This observation is not consistent with the assumptions made in the standard model of home sellers’ search behavior. We consider alternative models. In one, sellers set list prices based on their expectations of future changes in sales prices and the arrival rate of buyers; however, demand shocks occur. This model partially explains our data from the Belfast, U.K. housing market, but it fails to predict the list to sales price ratio during a sustained housing boom. We next describe a model where sellers’ endogenously select their search mechanism depending on the strength of the housing market. We find support for the conjecture that sellers switch to an auction-like model during housing booms. There also is evidence that during a downturn in the market, sellers’ list prices are sticky. [Copyright &y& Elsevier]

To attract more consumers and increase the number of sales, dealers need to determine optimal marketing strategies (such as warranty policy and sale price) and engineering decisions (such as upgrade and maintenance strategies) for their second-hand products. Applying an upgrade action to a second-hand item adds up to the sale price, but it improves the product reliability and can reduce the warranty servicing cost. In this paper, a three-parameter optimization model is developed to determine the optimal upgrade strategy, warranty policy and sale price of a second-hand product to maximize the dealer's expected profit. We provide a numerical study to illustrate our results. Also, a sensitivity analysis is conducted to evaluate the effect of model parameters on the optimal solution. Copyright © 2012 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Turnover is the indicator that represents adding revenues from deliveries of goods, execution of works and services and other operating income in a given time. The role of factorial analysis is to identify the main factors influencing turnover, to establish the meaning of influences and to determine their level, so in the end measures for limiting the action of factors with a negative action could be made, respectively maintaining and enhancing factors with positive influence. [ABSTRACT FROM AUTHOR]

Abstract: This paper provides a model for housing prices based on a seller solving the optimal time-on-the market problem. Given the seller’s optimal time-on-the market, analytical expressions are provided for both the expected time-on-the-market and the sales price. These expressions facilitate the computation of comparative statics. Consistent with economic intuition, we show that (i) both the expected time-on-the market and sales price decrease as interest rates increase, (ii) the expected time-on-the market increases and the expected sales price decreases as offer activity declines, and (iii) the expected time-on-the market and expected sales price both increase as the list price increases. [Copyright &y& Elsevier]

The objective was to evaluate potential factors influencing sale price of bred heifers sold through a video auction service. Descriptive characteristics of lots were obtained through a livestock video auction service. Data were available on 1,779 lots of bred heifers sold through video auctions from 2010 through 2017. Multiple regression with a backwards selection procedure was used to determine factors influencing sale price. Eleven factors were included in the original model. These were year, weight (linear and quadratic), region, breed description, weight variation, origin, frame score, flesh score, and size of lot (linear and quadratic). Size of lot (linear and quadratic) and weight (quadratic) did not affect sale price (P > 0.05) and therefore were not included in the final model. Breed description of the lots was characterized into five groups: English-English cross, English-Continental cross, Black Angus sired out of dams with no Brahman influence, Red Angus sired out of dams with no Brahman influence, and Brahman influenced. The United States was divided into five regions: West Coast, Rocky Mountain/North Central, South Central, South East, and Northeast, which was excluded from analysis due to few lots originating from this region. Lots of bred heifers sold for the lowest sale price (P < 0.05) in 2010 at $955/head (Table 1). In 2015, lots sold for the highest price (P < 0.05) compared with all other years ($2,725/head). Those lots originating from the Rocky Mountain/North Central region sold for the highest price (P < 0.05, $1,677/head). Red Angus sired lots sold for the highest price (P < 0.05, $1,711/head) compared with all other breed descriptions. There was an $85.00 increase in price for every 45.36 kg increase in weight. Understanding factors influencing sale price of bred heifers will allow producers to make more informed decisions. [ABSTRACT FROM AUTHOR]

The number of new homes built in China in 2014 doubled compared to 2004, while Korea has built more than 3000 units every year since 2004 and Japan has built more than 6000 new units. Apartments account for 60% of homes in Korea, so it is anticipated that apartment construction projects will not cease in Korea. The current company assumes that the sale rate (pre-sale rate) of apartments may be completely controlled by the pre-sale prices. The study calculated appropriate pre-sale prices to maximize the revenue of companies based on that assumption. For that purpose, the study identified the factors affecting the pre-sale prices and analyzed its correlation with the pre-sale prices based on the apartments located in Seoul, Korea. As a result of the analysis, it was found that the pre-sale prices of apartments are correlated with the number of apartment complexes, local rates, and local development level. The final result of the study suggested a way to calculate the sale prices using the factors that are thought to be correlated with the pre-sale prices. A simulation model was created using the method. When tested, it yielded an average deviation rate of 10.32%. The current study will contribute to preventing the economic losses that may be caused by apartment construction projects. [ABSTRACT FROM AUTHOR]

Owners' valuations of dwelling prices are central in the construction of price indices and households' economic behavior. We analyze the variation of the self-reported valuation bias over the distribution of dwelling sale prices, using a dataset of observations from a Household Expenditure Survey merged with the national sample of housing sale transactions by census tract. We find that self-reported estimates of dwelling values are, on average, 20% higher than the mean market prices of houses in the corresponding census tracts. Estimates reported by people who occupy dwellings in the lowest eight deciles of the price distribution are upward-biased, whereas those who live in the most expensive dwellings more typically understate the value of their homes. The self-reported valuation bias is systematically associated with owner's traits and with dwelling and neighborhood characteristics. Misspecification might be another potential explanation for that bias. The frequency of dwelling sales in the respondent's tract was found to have an effect on the self-reported valuation bias. [ABSTRACT FROM AUTHOR]