Regression Analysis of Used Car Demand Price: The Case of TR83 Region

Year 2018, , 39 - 52, 15.04.2018

Rüştü Yayar , Erkan Yılmaz

https://doi.org/10.17153/oguiibf.329264

Cited By: 5

Abstract

The automotive market, which consists of new and
used vehicles, has an important place in the economy. There are many factors
that affect the price in used car market. In this study, factors affecting the
demand price of automobile have been revealed. The study covers urban centers
located in the TR83 region. The data was obtained from companies that sold used
vehicles during February-April 2015 period. Semi-logarithmic regression model
was used in the study. The fact that the car brand is Mercedes is the most
important factor that increases the price, while the fact that the brand is
Hyundai is the most important factor that reduces the price.

Keywords

Used Car Market, Demand Price, Hedonic Model, Asym-metric Information, TR83 Region

İkinci El Otomobil Talep Fiyatının Regresyon Analizi: TR83 Bölgesi Örneği

Abstract

Yeni ve ikinci el araçlardan oluşan otomotiv piyasası
ekonomide önemli bir yere sahiptir. İkinci el otomobil piyasasında fiyatı
etkileyen birçok etken vardır. Bu çalışmada otomobil talep fiyatını etkileyen
unsurlar ortaya konmuştur. Çalışma TR83 Bölgesi’nde yer alan kent merkezlerini
kapsamaktadır. Veriler Şubat-Nisan 2015 döneminde ikinci el araç satışı yapan
firmalardan elde edilmiştir. Çalışmada yarı logaritmik regresyon modeli
kullanılmıştır.  Otomobil markasının
Mercedes olması fiyatı artıran en önemli unsur iken, markanın Hyundai olması
fiyatı azaltan en önemli unsur olarak bulunmuştur.

Keywords

İkinci El Otomobil Piyasası, Talep Fiyatı, Hedonik Model, Asimetrik Bilgi, TR83 Bölgesi

References

• Akerlof, George A. (1970), “The Market for Lemons: Quality Uncertainty and the Market Mechanism”, The Journal of Economic, 84(August), 488-500.
• Alper, C. Emre & Ayşe Mumcu (2007), “Interaction between Price, Quality and Country of Origin When Estimating Automobile Demand: The Case of Turkey”, Applied Economics, 39, 1789–1796.
• Andersson, Henrik (2005), “The Value of Safety as Revealed in the Swedish Car Market: An Application of the Hedonic Pricing Approach”, Journal of Risk and Uncertainty, 30(3), 211-239.
• Asteriou, Dimitrios (2006), Applied Econometrics: A Modern Approach Using EViews and Microfit, Palgrave Macmillan, New York.
• Daştan, Hüseyin (2016), “Türkiye’de İkinci El Otomobil Fiyatlarını Etkileyen Faktörlerin Hedonik Fiyat Modeli İle Belirlenmesi”, Gazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 18(1), 303-327.
• Ecer, Fatih (2013), “Türkiye’de 2. El Otomobil Fiyatının Tahmini ve Fiyat Belirleyicilerinin Tahmini”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, 13(4), 101-112.
• Erdem, Cumhur ve İsmail Şentürk (2009), “A Hedonic Analysis of Used Car Prices in Turkey”, International Journal of Economic Perspectives, 3(2), 141-149.
• Galarraga, Ibon, Ana Ramos, Josu Lucas & Xavier Labandeira (2014), “The Price of Energy Efficiency in the Spanish Car Market”, Transport Policy, 36 (2014), 272–282.
• Genesove, David (1993), “Adverse Selection in the Wholesale Used Car Market”, Journal of Political Economy, 101(4), 644-665.
• Greene, William H. (2003), Econometric Analysis, 5th edition, Prentice-Hall, New Jersey.
• Halvorsen, Robert & Raymond Palmquist (1980), “The Interpretation of Dummy Variables in Semi Logarithmic Equations”, American Economic Review, 70, 474-475.
• Lancester, Kelvin J. (1966), “A New Approach to Consumer Theory”, Journal of Political Economy, 74(2), 132–157.
• Matas, Anna & Josep-Lluis Raymond (2009), “Hedonic Prices for Cars: An Application to the Spanish Car Market, 1981-2005”, Applied Economics, 41, 2887-2904.
• Murray, Jonathan & Nicholas Sarantis (1999), “Price-Quality Relations and Hedonic Price Indexes for Cars in the United Kingdom”, International Journal of the Economics of Business, 6(1), 5-27.
• Pazarlıoğlu, M. Vedat ve Mustafa Güneş (2000), “The Hedonic Price Model for Fusion on Car Market”, International Conference of of Information Fusion, Paris, France, 4-13, http://ieeexplore.ieee.org/document/862707/, (Erişim: 20.08.2016).
• Prieto, Marc, Barbara Caemmerer & George Baltas (2015), “Using a Hedonic Price Model to Test Prospect Theory Assertions: The Asymmetrical and Nonlinear Effect of Reliability on Used Car Prices”, Journal of Retailing and Consumer Services, 22 (2015), 206–212.
• Rosen, Sherwin (1974), “Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition”, Journal of Political Economy, 8(1), 34–55.
• Tarı, Recep (2015), Ekonometri, Kocaeli: Umuttepe Yayınları.
• Yayar, Rüştü (2011), “Dizüstü Bilgisayar Piyasasında Hedonik Talep Parametrelerinin Tahminlenmesi”, KMÜ Sosyal ve Ekonomik Araştırmalar Dergisi, 13(21), 21-27.
• Yayar, Rüştü ve Deniz Gül (2014), “Mersin Kent Merkezinde Konut Piyasası Fiyatlarının Hedonik Tahmini”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, 14(3), 87-100.
• Yayar, Rüştü ve S. Serdar Karaca (2014), “Konut Fiyatlarına Etki Eden Faktörlerin Hedonik Modelle Belirlenmesi: TR83 Bölgesi Örneği”, Ege Akademik Bakış Dergisi, 14(4), 509-518.
• Yayar, Rüştü ve Derya Demir (2014), “Hedonic Estimation of Housing Market Prices in Turkey”, Erciyes Üniversitesi İİBF Dergisi, 43, 67-82.
• Zhang, Hongjing & Mucong Zhang (2010), “Environment Hedonic Price Analysis: Evidence from Jilin City”, Second International Conference on Communication Systems, Networks and Applications, 354-357, 29 June-1 July 2010, Hong Kong, China.