Determining the Factors Affecting the Price of Beetle in Turkish Market via Hedonic Price Model


Abstract


Beetle, as a legendary car, which its production dates back to 1938 and continues until 2003, sold more than 25 million in the world. It is also at premium and has many fans in Turkey too. Beetle, called as "Vosvos" or "turtle" in Turkey, may even be more expensive in the spot market than top model cars. Since automobiles have heterogeneous characteristics, to determine the factors which affect its price, Hedonic Price Model can be used. The aim of this study is to explore the factors that affects Beetle price and to get a model which can be used to price the automobile.


Keywords


Beetle; Hedonic Price Model; Multiple Regression Analysis; Information Criteria.

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References


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