Hedonic Cost Functions for the Regulated Trucking Industry

Spady, Richard H.; Friedlaender, Ann F.

doi:10.2307/3003618

Cited by 166 publications

(52 citation statements)

References 11 publications

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“…Based on this assumption, they developed a model of the determinants of the motor carrier supply price which included the product and cost related characteristics of the shipments. This approach was consistent with previous studies done in the period before deregulation occurred (Sloss, 1970;Spady & Friedlaender, 1978).…”

Section: Empirical Investigationssupporting

confidence: 80%

“…It would also appear there are economies of scale associated with the less-thantruckload motor carrier industry. This conclusion would be directly opposite that reached by researchers who studied the problem of concentration extensively, and reported there are nd economies of scale associated with the LTL motor carrier industry (Spady & Friedlaender, 1978;Friedlaender & Spady, 1981;Sugrue;, Ledford & Glaskowsky, 1982).…”

Section: Faced With These Inconclusive Results Beilock Andcontrasting

confidence: 49%

“…Contrary to expectations, it was found in both states after deregulation, the premium charged for small shipments actually decreased five to six percent. The authors pointed out that although their hypothesis was not supported, the results did support researchers who argued there were no economies of scale for motor carriers specializing in small shipments (Spady & Friedlaender, 1978;Sugrue, Ledford & Gl'askowsky, 1982).…”

Section: Empirical Investigationsmentioning

confidence: 42%

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Motor carrier pricing in an unregulated environment

Jones¹

1995

Transportation Research Part A: Policy and Practice

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Section: Empirical Investigationssupporting

confidence: 80%

Section: Faced With These Inconclusive Results Beilock Andcontrasting

confidence: 49%

Section: Empirical Investigationsmentioning

confidence: 42%

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Motor carrier pricing in an unregulated environment

Jones¹

1995

Transportation Research Part A: Policy and Practice

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“…The authors are grateful to Professor Tadashi Yoshizawa and three anonymous referees for helpful comments and suggestions for the earlier drafts. 'See , e.g., Spady and Friedlaender (1978), Witte, Sumka, and Erekson (1979), Gibbons.Coombs. Saviotti.…”

mentioning

confidence: 99%

Measuring Technology and Pricing Differences in the Digital Still Camera Industry Using Improved Hedonic Price Estimation

Miyamoto

Tsubaki

2001

Behaviormetrika

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In this paper we present an improved hedonic price regression for cases in which many implemented technological characteristics are to be included into a set of explanatory variables. This approach modifies Massy's (1965) principal components regression in which original dummy explanatory variables corre sponding to the characteristics are transformed into principal components. The selected subset which we obtained from the principal components regression was further orthogonally rotated by Kaiser's (1957) varimax criterion in order to reconstruct explanatory variables with a simple structure for the final hedonic regression, resulting in a more straightforward understanding of hedonic regres sion in the case of many explanatory variables. This approach is applied in order to compare different pricing strategies in the digital still camera industry, where the products contain 35 different technical attributes. The pricing strategies were measured using relative errors; differences between log actual prices and log quality-adjusted prices were identified using hedonic regression. The result shows that those companies, which have priced their products cheaper than the value of contained technologies, or than the prices of competitors, seem to have gained a larger market share. G raduate School of Systems Management. University of Tsukuba. Tokyo. Request for reprints should be sent to Michiko l\liyamoto 1-20-3-901 Ebisu-Nishi, Shibuya-ku. Tokyo. 150-0021. Japan. The authors are grateful to Professor Tadashi Yoshizawa and three anonymous referees for helpful comments and suggestions for the earlier drafts. 'See , e.g., Spady and Friedlaender (1978), Witte, Sumka, and Erekson (1979), Gibbons.Coombs. Saviotti. and Stubbs (1982) and Tremblay (1985) for a description and application of this technique. Hedonic methods have been officially adopted in the United States to measure the change in computer prices, and similar attempts are seen for the Japanese computer markets (Cole et al

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“…As such it can become a little ambiguous as to what variables represent outputs versus output characteristics versus network size. Wheat and Smith (2014) is an attempt to introduce heterogeneity by means on a hedonic cost function (Spady andFriedlaender, 1978 andBitzan andWilson, 2008). Under this approach there is only one output as opposed to n outputs (this is relaxed in some applications, such as Wheat and Smith, 2014).…”

Section: Cost Function Estimationmentioning

confidence: 99%