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Second-hand Board Game Price Analysis
Novotný, Lukáš ; Polák, Petr (advisor) ; Pertold-Gebicka, Barbara (referee)
This thesis investigates the determinants of price and value retention of pre- owned board games in the United States market. It is most likely the first thesis applying the hedonic pricing method to the board game industry. Two depen- dent variables, price and the portion of the original manufacturer's suggested retail price that remains, were modelled using various game characteristics. The analysis is performed on data obtained primarily from BoardGameGeek. Applying multiple linear regression and Ordinary Least Squares method on the cross-sectional sample of over 2000 observations, several factors were estimated to be significant. Condition, rating, age, complexity, duration and weight of the box turned out to be the most crucial board game value drivers. Moreover, in the case of regression on residual price share, the most significant predictors appeared to be condition, age and rating. Keywords second-hand market, board game, hedonic pric- ing model, OLS regression Title Second-hand Board Game Price Analysis
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Determinants of the average daily rate of Peer-to-peer accommodation in the Czech Republic
Řežábek, Pavel ; Pavlíček, Jaroslav (advisor) ; Schwarz, Jiří (referee)
This thesis investigates which characteristics of peer-to-peer accommodation affect its average daily rate. The study utilizes a unique dataset created with data on all accommodation offers in the Czech Republic, made directly from data downloaded from airbnb.com, which is the largest platform presenting short-term rentals outside hotels. The information about amenities and reviews of individual properties offering accommodation are firstly categorized. The effects of each such category together with information about size and location on the average daily rate are then investigated using the ordinary least squares method. The following parameters are found to have have the most significant effect on the average daily rate: location in Prague, the maximum number of occupants, hotel-type equipment, and luxury amenities.
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Spatial approaches to hedonic modelling of housing market: Prague case
Lipán, Marek ; Křehlík, Tomáš (advisor) ; Troch, Tomáš (referee)
Having at hands instruments capable of effective housing appraisal can be essential not only for the real property evaluator in a bank, policy maker or real estate agent, but also for single individual seeking for an objective way to assess the tenure choice decisions. The housing market data are of a spatial nature. We address the spatial issues by implementing spatial modelling techniques into a hedonic price model. The main focus of the thesis is put on building a kriging model, which shows to be a powerful tool in explaining and predicting the prices of housing in the Prague at market. The kriging model comes out the best from the comparison of performance with the traditional spaceless hedonic pricing model as well as the common econometric spatial models. The usefulness of our kriging model is demonstrated in a possible application as the extension of the net present value model of the optimal tenure choice for a prospective first home owner. In a simplified economic scenario we found that the optimality of the tenure choice depends on the inflation, expected holding period as well as the precise location of the flat in the Prague.
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Price Determinants of Flats Purchased for the First Time in Prague
Pelnář, Daniel ; Cahlík, Tomáš (advisor) ; Nevrla, Matěj (referee)
Being able to correctly estimate the true intrinsic value of a flat is important for various economic agents. This paper is concerned with the price determinants of first-time- purchased flats in Prague. It is mostly about the hedonic pricing model and its applications using data from Vivus which is one of the larger flat developers operating in Prague. Ordinary least squares was the estimation method of choice in this study. The main results are as follows. The residual analysis showed no extremely overvalued or undervalued flats based on our chosen models. Moreover, the estimated increase in prices of average sized flats in Uhříněves was 36.76% from 2017 to 2019. This is a much larger magnitude if compared with the period of the financial crisis where an average sized flat in Na Vyhlídce increased in its price by 12.83% from 2007 to 2009. It is interesting to see that even during a recession, the prices of Prague flats were raising.
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The influence of distance from the city center on apartments renting prices
Babjaková, Miriam ; Mirvald, Michal (advisor) ; Slaný, Martin (referee)
The thesis examines the influence of a distance of a real estate from the city centre, on renting price of apartments in cities Prague and Brno. In addition, the thesis also assesses influence of other characteristics on renting price of apartments in the given area. The study is based on rental offer of apartments published on a website sreality.cz in February 2017. The data set contains information regarding 73 apartments in Brno and 347 apartments in Prague. On the basis of the regression analysis, the negative influence of distance of a real estate from the city centre on renting price has been demonstrated in both cities. In both cases, the significant influence of building characteristic on the rental price of apartments was found. In Prague, the energy performance of buildings has the strongest influence on the rental price, while in Brno, the condition of the building influences the rental price the most.
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Spatial approaches to hedonic modelling of housing market: Prague case
Lipán, Marek ; Křehlík, Tomáš (advisor) ; Troch, Tomáš (referee)
Having at hands instruments capable of effective housing appraisal can be essential not only for the real property evaluator in a bank, policy maker or real estate agent, but also for single individual seeking for an objective way to assess the tenure choice decisions. The housing market data are of a spatial nature. We address the spatial issues by implementing spatial modelling techniques into a hedonic price model. The main focus of the thesis is put on building a kriging model, which shows to be a powerful tool in explaining and predicting the prices of housing in the Prague at market. The kriging model comes out the best from the comparison of performance with the traditional spaceless hedonic pricing model as well as the common econometric spatial models. The usefulness of our kriging model is demonstrated in a possible application as the extension of the net present value model of the optimal tenure choice for a prospective first home owner. In a simplified economic scenario we found that the optimality of the tenure choice depends on the inflation, expected holding period as well as the precise location of the flat in the Prague.
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Determinants of real estate prices in Czech Republic
Pojezdná, Marie ; Dlouhá, Zuzana (advisor) ; Chytilová, Helena (referee)
This thesis examinates factors which influence price of real estate on the market in Czech Republic; hedonic price model was used as examinating method. These factors are acknowledged as significant in model for Czech Republic: area, number of rooms, accessories (separate kitchen, garage), ground floor, construction material, reconstruction, distance from centre, public transportation, neighborhood and region. Region is the most significant factor in model for regions outside Prague, the most significant factor in model for Prague is distance from centre.
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Analysis of the influence of selected qualitative characteristics on price apartments in Prague in the period 2007 -2012
Vinterová, Michaela ; Koubek, Ivo (advisor) ; Pertold, Filip (referee)
The aim of this thesis is to examine the influence of selected characteristics of sold flats (2007-2012) in Prague on the selling price. The analysis is made on group of similar flats of size 3+1 and 3+kk. Data consist of 1185 observations. I am using the hedonic price method to investigate the influence of selected variables. The results indicate that with rise in availability by 1% the price of flat decrease by 0, 13%, with rise of its size the price rise by 0,92%. The price of flats rise by 13% when the cooperative ownership change to personal ownership The change of construction materials from panel to bricks rise the price of flat by 23%, the reconstruction of bathroom rise the price by 5,7%. Other finding is that overall reconstruction rises the price by 11%. Garage increase the price by 24%. Finally the hypothesis that flat in the ground floor is negatively viewed and the price of flat decrease by 2, 5%.
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