Journals / Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi / 2018 / Cilt: 19 - Sayı: 1

Comparison of Robust Hedonic Models: Review of Factors Affecting Beetle Turkey Market Price

ROBUST HEDONİK MODELLERİN KARŞILAŞTIRILMASI: BEETLE TÜRKİYE PİYASA FİYATINI ETKİLEYEN FAKTÖRLERİN İNCELENMESİ

Pages
24–43
Publication Date
2022-10-11
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Therefore, results of the study are not only theoretically successful but also a support to daily life and the economy.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of this study is to determine the factors which affects the price of Beetle vehicles named also “Vosvos” or “Kaplumbağa” (Tortoise) in Turkey.
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Key Findings & Data:It is also possible for Beetle to be more expensive than the top model cars especially in the spot market.
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Conclusion & Impact:Therefore, results of the study are not only theoretically successful but also a support to daily life and the economy.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

The aim of this study is to determine the factors which affects the price of Beetle vehicles named also “Vosvos” or “Kaplumbağa” (Tortoise) in Turkey. It is also possible for Beetle to be more expensive than the top model cars especially in the spot market. The main reason of fondness of the beetle is entirely related to personal pleasure and aesthetics rather than to features such as personal comfort, security, affordable price etc. like in other cars. In this regard, this car has a special fan base. Hedonic price model approach is used to determine the factors which affects the prices of Beetle model cars. Because hedonic price model is used to determine the factor which affects the prices of heterogeneous goods that are bought to satisfy personal pleasure. However, since the cars in Turkey market are different in the sense of their ages, features and restoration states, there are wide differences among prices of them. The fact that this situation can cause outlier problem in the data set is the reason which we used classical and robust hedonic price model in the study for. Also, the results obtained from the study is used to create a price estimator robot. Therefore, results of the study are not only theoretically successful but also a support to daily life and the economy.

Özet

Bu çalışmanın amacı Türkiye’de “Vosvos” ya da “Kaplumbağa” olarak da adlandırılan Beetle araçların fiyatını etkileyen faktörleri belirlemektir. Beetle özellikle ikinci el piyasasında son model araçlardan daha pahalı olabilmektedir. Aracın tercih edilmesindeki temek etken diğer otomobiller gibi kişisel konfor, güvenlik, uygun fiyat vb. özelliklerden ziyade, tamamen kişisel haz duygusu ve estetik kaygılardır. Bu bakımdan otomobil özel bir hayran kitlesine sahiptir. Beetle araçların fiyatını etkileyen faktörlerin belirlenmesinde hedonik fiyat model yaklaşımı tercih edilmiştir. Çünkü hedonik fiyat modeli kişisel haz duygusunu tatmin etmek için satın alınan heterojen malların fiyatını etkileyen faktörlerin belirlenmesinde kullanılmaktadır. Ancak Türkiye piyasasında bulunan araçların hem yaşları, hem özellikleri hem de restorasyon durumları çok farklı olduğundan fiyatlar arasında büyük farklılıklar vardır. Bu durumun veri setinde aykırı değer sorununa neden olabileceği düşünüldüğünden çalışmada klasik ve robust hedonik fiyat modellerinden yararlanılmıştır. Ayrıca çalışmadan elde edilen sonuçlar ile bir fiyat tahmin robotu oluşturulmuştur. Böylece çalışmanın sonuçlarının teorik olarak başarılı olmasının yanı sıra, günlük hayata ve ekonomiye de katkı sağlayacağı düşünülmektedir.

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Cite This Article

ZAMAN, T., BULUT, H. (2022). Comparison of Robust Hedonic Models: Review of Factors Affecting Beetle Turkey Market Price. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 19 - Sayı: 1, 24–43. https://ajindex.com/articles/480614

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