Search Results (100)

This study aims to investigate residents’ marginal willingness to pay (WTP) for accessible urban green spaces (UGSs) in Shanghai from 2012 to 2021, using a comprehensive UGS accessibility (UGSA) indicator based on an improved nSFCA method. The UGSA indicator is incorporated into a hedonic pricing model, and multiple global regressions with multilevel data structures are employed to identify a suitable and accurate estimation strategy to determine the impact of UGSA on housing prices. The results show that WTP for UGSA varies significantly across categories and years, as well as between homebuyers and renters, with homebuyers having a much higher WTP compared to renters. Furthermore, neighborhood UGSA is generally more preferred than utmost UGSA. By differentiating UGSA into “neighborhood” and “utmost” levels and conducting a decade-long longitudinal analysis of both homebuyers and renters, this study contributes to two key academic debates: the spatial scaling of amenity valuation and the role of property rights in the capitalization of public goods. Employing a robust spatial econometric framework, our research provides novel insights into these complex dynamics within a hyper-dense urban context. The research contributes to the understanding of the economic value of UGSA by providing valuable insights for urban planning, policy-making, and real estate development, highlighting the importance of considering the spatial, temporal, and heterogeneous aspects of UGSA when estimating its economic value. Full article

This study examines the determinants of apartment prices in 17 post-WWII multi-family housing estates in Ljubljana, Slovenia, constructed between 1947 and 1986. Using 1973 verified transactions from 2020 to 2025, the analysis evaluates spatial, structural, environmental, and accessibility-related variables through a combination of statistical and machine learning techniques. A hedonic price model based on ordinary least squares (OLS) demonstrates modest explanatory power (R² = 0.171), identifying local market reference prices, floor level, noise exposure, and window renovation as significant predictors. In contrast, seven machine learning models—Random Forest, XGBoost, and Gradient Boosting Machines (GBMs), including optimized versions—achieve notably higher predictive accuracy. The best-performing model, GBM with Randomized Search CV, explains 59.6% of price variability (R² = 0.5957), with minimal prediction error (MAE = 0.03). Feature importance analysis confirms the dominant role of localized price references and structural indicators, while environmental and accessibility variables contribute variably. In addition, three clustering methods (Ward, k-means, and HDBSCAN) are employed to identify typological groups of neighborhoods. While Ward’s and k-means methods consistently identify four robust clusters, HDBSCAN captures greater internal heterogeneity, suggesting five distinct groups and detecting outlier neighborhoods. The integrated approach enhances understanding of spatial housing price dynamics and supports data-driven valuation, urban policy, and regeneration strategies for post-WWII housing estates in Central and Eastern European contexts. Full article

Background: Rapid urbanization has intensified the challenges of freight transport, particularly in last-mile (LM) delivery, leading to rising costs and environmental externalities. Autonomous vehicles (AVs) have emerged as a promising innovation to address these issues. While much of the existing literature emphasizes business and operational perspectives, this study focuses on the acceptance of AVs from the standpoint of e-consumers—individuals who make purchases via digital platforms—in an emerging market context. Methods: Grounded in an extended Unified Theory of Acceptance and Use of Technology 2 (UTAUT2), which is specifically suited to consumer-focused technology adoption research, this study incorporates five constructs tailored to AV adoption. Structural Equation Modeling (SEM) was applied to survey data collected from 304 e-consumers in Northeast Brazil. Results: The findings reveal that performance expectancy, hedonic motivation, and environmental awareness exert significant positive effects on acceptance and intention to use AVs for LM delivery. Social influence shows a weaker, yet still positive, impact. Importantly, price sensitivity exhibits a minimal effect, suggesting that while consumers are generally cost-conscious, perceived value may outweigh price concerns in early adoption stages. Conclusions: These results offer valuable insights for policymakers and logistics providers aiming to implement consumer-oriented, cost-effective AV solutions in LM delivery, particularly in emerging economies. The findings emphasize the need for strategies that highlight the practical, emotional, and environmental benefits of AVs to foster market acceptance. Full article

This study empirically delves into whether residential heating methods significantly affect apartment prices in Uiwang City, a suburban city near the Seoul Metropolitan area, South Korea. Using data from 1256 apartment sales, where both district heating systems (DHSs) and individual heating systems (IHSs) coexist, a hedonic price equation was estimated to analyze the impact of the heating method choices on housing values. Various housing attributes, including physical, locational, and environmental factors, were controlled, and multiple regression models were compared to identify the best-performing specification. The results show that apartments equipped with a DHS are priced, on average, KRW 92 million (USD 72 thousand) higher than those with an IHS. The price difference corresponds to KRW 849 thousand (USD 665) per m² and possesses the statistical significance at the 5% level. Moreover, it is quite meaningful, representing roughly 11.2% of the price of an average apartment. These findings suggest that the use of DHS has a positive effect on apartment prices that reflect consumers’ preferences, beyond its advantages in stable heat supply and energy cost savings. This article provides empirical evidence that DHS can serve as an important urban infrastructure contributing to asset value enhancement. Although this study is based on a specific geographic area and caution must be exercised in generalizing its findings, it reports the interesting finding that residential heating method significantly affects housing prices. Full article

Despite the economic importance of Protected Designation of Origin (PDO) cheeses in Italy, little research has examined how label attributes affect price premiums. For Italian cheese producers, especially those investing in PDO certification, understanding which attributes generate premiums is crucial for sustainable business strategies. This study examined attributes displayed on 420 validated cheese labels collected across Italy in 2022, focusing on hard cheese, fresh soft cheese, and string cheese. A content analysis was conducted to identify and categorize the attributes displayed on cheese labels. Following this, the hedonic pricing method, supported by multiple linear regression analysis, was used to assess the impact of these attributes—along with brand and distribution channel—on product pricing. Our findings reveal that sustainability attributes show particularly strong effects on price premiums. PDO certification generates significant premiums prominently for hard and fresh soft cheeses, cow breed information for string cheese, while specialized retail channels create higher prices for fresh soft and string cheeses. While brand–price relationships are heterogeneous, the study provides evidence of their impact. These insights enable cheese producers, marketers, and retailers to strategically prioritize product attributes, optimize distribution channels, and make informed decisions about brand positioning to maximize value in competitive cheese markets. Full article

The literature shows greenspaces generally increase nearby property values, but in Riyadh, this relationship is complex and understudied. Existing studies lack sector-specific analyses across Riyadh’s neighborhoods, overlook the impact of the Green Riyadh Project launched in 2019, and fail to address negative externalities associated with large greenspaces in an arid, privacy-conscious context. Such paradoxical impact of larger greenspaces bordering major roads at the neighborhood edge, unexpectedly reduce property values by 2–4% due to petty crime, congestion, poor upkeep, and privacy concerns, contrasting with 10–18% premiums for properties abutting greenspaces with restricted access in affluent neighborhoods. Global studies typically report positive greenspace effects, so negative impacts in specific Riyadh sectors are surprising. This highlights the city’s unique arid, cultural, and urban dynamics in addressing this research gap. The research uses purposive quota sampling of Riyadh neighborhood greenspaces and a mixed-methods approach of quantitative hedonic pricing analysis combined with qualitative semi-structured interviews with real estate agents. Findings underscore the need for tailored urban planning (e.g., mitigating petty crime, overcrowding, poor maintenance). This suggests the importance of integrating green infrastructure into urban planning, not only for its ecological and social benefits but also for its tangible positive impact on property values. Poor greenspace upkeep and safety concerns can reduce price premiums of abutting properties. Full article

This study investigated the intangible value transferred from urban megaprojects to surrounding residential property markets, focusing on Brisbane’s transformative urban regeneration projects currently in the development pipeline. The research objectives were twofold: first, to empirically investigate the dynamics of property markets influenced by urban megaprojects and second, to assess the impact of a specific case study on these markets through a longitudinal analysis of residential sales data. Drawing from environmental economics, the concept of willingness to pay (WTP) is used to quantify externalities associated with urban megaprojects. The research constructs a comprehensive dataset integrating geospatial and property-specific data. Through revealed preference methods, the intangible value transferred from mixed-use developments is identified and quantified via residential transaction prices. Utilising hedonic price modelling, this study systematically analysed residential transaction data to estimate implicit prices associated with spatial proximity to megaprojects. A comprehensive dataset integrating property-specific attributes, geospatial proximity measures, and temporal dynamics of project development phases underpins this analysis. This research and its findings advance the existing literature in several important dimensions. That is, this research represents the first microeconomic assessment of the property market’s impacts resulting from mixed-use megaprojects in Brisbane, offering novel empirical insights for both academic and practical applications, how urban megaprojects shape residential property values, and informing stakeholders involved in urban planning, policymaking, and real estate investment decisions. Practitioners and policymakers can leverage these insights to inform policy frameworks and strategic decisions. At the governmental level, the results offer applicable insights for urban revitalisation strategies, particularly relevant to central business districts undergoing similar developments. Private sector stakeholders can utilise these outcomes to anticipate market adjustments, managing supply and demand fluctuations more effectively. Full article

Although impulsive and hedonic purchasing behaviors may seem to contradict sustainability principles, there are unexplored opportunities through which social media platforms and influencers can redirect these impulses toward sustainable actions. Young consumers, increasingly concerned about the ecological impact of their choices, can be encouraged to adopt responsible and sustainable buying behaviors when these are promoted attractively, enjoyably, and emotionally satisfyingly through social media. This research investigates how social media communication influences hedonic and impulsive purchasing behavior in the Romanian clothing market. In the context where social media is one of the main sources of information and influence for consumers, the research analyzes several determining factors of the purchase decision. Price reductions and the use of credit cards are highlighted as elements that facilitate spontaneous and hedonic targeted purchases, while the attractiveness of clothing items and the need felt play an important role in terms of the desire to buy. In addition, sources of information (such as reviews) have a major impact on consumers’ perceptions and their purchase intentions. Additionally, the study investigates factors such as overall shopping experience and its influence on consumer loyalty. It is approached from two perspectives: attitudinal loyalty, reflected in the preference for brands promoted on social media, and behavioral loyalty, expressed through repeat purchases. The results show that social media acts as an accelerator for hedonic and impulsive buying behaviors, prompting consumers to react quickly to stimuli such as discount campaigns or personalized recommendations. The conclusions highlight the importance of adopting digital marketing strategies that capitalize on the consumers emotional need while also strengthening brand loyalty. These perspectives can guide companies in the clothing industry to adapt their promotion methods to the specifics of the Romanian market and the consumer behavior. Full article

Climate change and extreme rainfall events pose great pressures on a city’s resilience to flooding and waterlogging. Designed as a kind of green infrastructure to manage stormwater, urban sponge parks (USPs) in China have been demonstrated to have ecological and societal benefits, while their landscape economic values lack evaluation. Taking the real-estate choices surrounding six USPs in China as an example, an evaluation framework integrating text mining with housing introduction documents and hedonic price model (HPM) regression with housing prices was constructed to combine the stated preferences and revealed preferences of citizens when purchasing properties. The main findings include the following: (1) USPs do contribute to property appreciation, especially in newer urban areas, although they are not as strong as location and property characteristic factors; (2) the extent of the influence of USPs on houses decreases as the distance increases, with a maximum radius of 3 km; (3) a USP’s effects vary according to the urban and environmental context, as HPM with GWR (R² ranges from 0.203 to 0.679) outperforms the OLS method (R² ranges from 0.149 to 0.491), which evokes the need for more affluent and detailed analyses in the future. This study demonstrates the economic benefits of USPs and provides an evaluation approach based on citizen science data, which could contribute to the policy-making of USPs in China and promote the implementation of Nature-based Solutions. Full article

Due to the increase in recreational demands, the significance of protected areas and forests with recreational potential in forests increased with the demands of nature tourism, which in turn provided new income sources to the forestry industry. In the current study, the economic values of the Uzungöl Nature Park’s lake view, an international tourist destination, were estimated using the hedonic pricing method. In the study, 188 questionnaires were conducted with 89 businesses, and the hedonic price function (HPF) was determined based on the study data collected from the businesses in Uzungöl Nature Park. It was estimated that the mean lake view in-room accommodation price for the hotels in Uzungöl Nature Park was USD 207.38 and the lake causes an increase of $2.8 per square meter and $144.67 in total on the room price of the hotels. The study findings demonstrated that the lake view was a desirable quality for hotel rooms, which is reflected in the prices in Uzungöl. The significant contribution of the lake view to room prices would support the planning and management of protected areas that are usually rich in natural resources. Determining the economic value of the lake view will enable business owners operating in the region or those planning to establish new businesses to make more informed pricing strategies. It will also strengthen hotel owners’ marketing campaigns and enable them to think more rationally about new investments (such as adding rooms or services). Business owners will be able to optimize their rooms based on lake views in order to offer more lake-view rooms to customers. Determining the economic value of the lake view will raise awareness about the protection of natural areas. By investing in eco-friendly and sustainable practices, hotel owners will contribute to the conservation of natural resources. The value estimates determined in the present study would also contribute to the employment of total forest value calculations and resource accounting systems. Full article

Urban parks play a pivotal role in fostering ecologically advanced cities in China, contributing significantly to enhancing urban environments and the overall quality of life for residents. However, their value is often hard to quantify by urban planners due to the absence of a clear market price. Using the hedonic price method, this study delves into the distinct impacts of different types of urban parks (community parks, city parks, country parks) on housing prices under the three-level park system in Shenzhen. The outcomes reveal that owning a view of both city parks and country parks from the apartment has significant positive influence on housing prices, with a premium of 14.8916% (RMB 920,396.73) and 30.7299% (RMB 1,899,309.15), respectively. Regarding accessibility, shortening walking distance by 100 m to the nearest community park and city park can attach a premium to the housing price by 0.3269% (RMB 20,203.55) and 0.6130% value gain (RMB 37,889.53), respectively. The results drawn from distinctive park types are expected to give insights to urban planners in formulating strategies for ecological civilization construction, with an emphasis on prioritizing visible and accessible greenspaces to cater to citizens’ preferences and foster sustainable urban growth. Full article

To maximize the business value of the cloud, the cost of cloud solutions is explored alongside technical quality and performance. To enable this form of exploration engineering, finance and business teams collaborate in the context of FinOps, the operational framework that provides the required decision-making. Prominent providers, such as Google and Microsoft, provide FinOps to their customers, integrating cost factors when designing a cloud solution. However, different providers apply different pricing policies for their products, and these policies also change through time. Therefore, there are numerous efforts to explore price evolution through time for different cloud products applying different decision-making methods using different datasets. In an effort to establish a systematic approach to support decision-making on alternative pricing policies for cloud services and compare them across services and providers, the CloudPricingOps framework is proposed in this paper. It constitutes a decision support system that provides alternative decision-making methods, such as hedonic models, time series, and clustering and machine learning techniques, to deal with problems related to cloud product pricing policy analysis, comparison and prediction. It also constitutes a systematic method of discrete steps to integrate additional decision-making methods to deal with these problems and input datasets to be used regardless of the method or the cloud pricing problem that needs to be solved. Two discrete examples based on real data are also presented in this paper to demonstrate the usefulness of the CloudPricingOps framework for cloud engineering and business teams. Full article

Urban park green spaces have the functions of improving the urban ecological environment and providing recreational services, and at the same time, they have a certain effect on the value of the surrounding residential property. To quantitatively assess the value of the landscape premium function of park green space, many scholars have carried out research exploration and adopted a variety of methods (such as the contingent valuation method (CVM), travel cost method (TCM) and hedonic price method (HPM)), which have developed from simple theoretical models with single factors to complex empirical models with multiple factors. Among them, the hedonic price method has become the mainstream research method, and in recent years, it has been widely adopted in combination with GIS technology. In terms of research objects, single park green space or multiple park green spaces in large cities are the main focus, while there are fewer studies on park green spaces in built-up areas of small and medium-sized cities. In terms of research content, there are more studies on the value-added coefficient of landscape premium and influence distance, and there are fewer studies on the total value of landscape premium. This article aims to calculate the total landscape premium value of all park green spaces in the built-up areas of small and medium-sized cities, proposing a complete and operable accounting system for the functional value of park green space landscape premiums by combining GIS with a hedonic pricing model and remote sensing image interpretation methods. For the first time, a method for interpreting the height of residential buildings within the benefit range of landscape premium through remote sensing images is proposed, and then the floor area ratio of residential plots is estimated, so as to estimate the total area of actual beneficial buildings. Therefore, this paper takes Chifeng City, a small and medium-sized city, as a case study, and empirically demonstrates the assessment of the landscape premium function of parks and green spaces in the built-up area of Chifeng City by using this accounting system. Research shows that this method has certain feasibility, not only calculating the total value of landscape premium but also addressing the issue in existing studies where all areas within the potential range of landscape premium function are counted as appreciated areas, leading to an overestimation of the premium. It further advances the accuracy of accounting for the value of landscape premium function of urban park green space and provides theoretical reference for the planning and construction of urban park green space. Full article

(1) Background: Loyalty programmes are business strategies aimed at increasing customer fidelity to brands. One of the most promising technologies of the 21st century is blockchain, whose application to the management of loyalty programmes can increase transparency and reliability, enable interoperability, and facilitate centralised management. (2) Methods: This study evaluates the antecedents of the acceptance of blockchain-based loyalty programmes (BBLPs) using a model grounded in the technology acceptance model UTAUT2. The four basic constructs of UTAUT, which we call the UTAUT-baseline, are considered explanatory factors: performance expectancy (PER), effort expectancy (EFF), social influence (SOC), and facilitating conditions (FAC). Additionally, we consider the constructs introduced in UTAUT2: hedonic motivation (HED) and perceived price value (PRI), to which we add innovativeness (INN) and trust (TRU), and we refer to these as UTAUT-extended, along with the moderating variables of UTAUT and UTAUT2: gender, age, and experience. The analytical approach used is complexity theory, which aims to capture the configurations that lead to both acceptance and rejection positions regarding BBLPs. This analysis is performed via fuzzy set qualitative comparative analysis (fsQCA). (3) Results: Eight explanatory configurations of the acceptance of BBLPs have been obtained, in which the presence of all UTAUT-baseline and UTAUT-extended constructs is a condition in at least three prime implicates. The constructs with the greatest presence as core conditions are PER, EFF, and TRU. On the other hand, nine configurations leading to the rejection of BBLPs have been identified. The absence of all UTAUT-baseline and UTAUT-extended variables is a condition in at least three configurations. The core conditions with the greatest presence in the rejection of BBLPs are the lack of FAC, HED, and PRI. (4) Practical implications: The results obtained are of great interest to business owners, as they allow for the characterisation of different profiles of people potentially engaged with BBLPs, as well as the profiles of consumers reluctant to adopt them. Full article

The development of new dishes in the catering services market requires an understanding of consumers’ needs, expectations, and motivations for their choices. The effect of the serving method of a dessert on customers’ perceptions of its visual appeal, portion size, energy value, and expected price was evaluated. The study involved the presentation of desserts on plates of various sizes, shapes, and colors. The study was carried out among 1005 respondents using the CAWI method. Our findings revealed that along with an increasing plate size from a diameter of ϕ24–27 cm to ϕ31 cm, the ratings of the dish’s perceived appearance (p ≤ 0.001), portion size (p ≤ 0.001), and energy value (p ≤ 0.01) decreased. Plate shape influenced the perceived appearance of the dessert. When placed on a square platter, round desserts were considerably (p ≤ 0.05) less appealing. The color of the plate had a significant influence (p ≤ 0.001) on the dish’s perceived appearance and estimated monetary value, and it evoked more sensory–hedonic impressions. Red-plate and white-plate desserts were liked less than black-plate desserts, but color-plated desserts were perceived as more expensive than those served on white dishes. Consumers perceived bright desserts on white plates as traditional, natural, and boring; those on black plates as modern, appetizing, and aesthetic; and those served on red plates as artificial, unsightly, and unappetizing. Higher consumer food neophobia led to a lower rating related to appearance and price perceptions, but elevated perceptions of portion size and energy value appraisal. Our results may be used in the marketing of gastronomic dishes. Full article