R. Selvaggi, B. Pecorino, G. Trovato, G. Pappalardo
Unfamiliarity with a good reduce the chances to be used by consumers. This is the case of digestate which is an organic soil conditioner obtained as by-product of biogas chain. The use of digestate as alternative to traditional manure is still not very widespread due to the lack of knowledge among farmers. In our survey, we explored whether providing farmers with information about the digestate can affect farmers’ willingness to pay for buying it instead of the traditional manure used by farmers as soil conditioner. By conducting a hypothetical multiple-price list experiment we show that information positively affects farmers’ willingness to pay (WTP) for digestate but information alone is not sufficient to create a new market for it because at the same price farmers always continue to buy manure. This finding raises some questions when estimating the effect of information, which while positive does not shift farmers’ decisions to use an unfamiliar good. This result suggests that information provided to farmers elicited a WTP not sufficient to replace traditional manure with digestate.
{"title":"Is the information sufficient to create a new market for digestate?","authors":"R. Selvaggi, B. Pecorino, G. Trovato, G. Pappalardo","doi":"10.36253/aestim-13002","DOIUrl":"https://doi.org/10.36253/aestim-13002","url":null,"abstract":"Unfamiliarity with a good reduce the chances to be used by consumers. This is the case of digestate which is an organic soil conditioner obtained as by-product of biogas chain. The use of digestate as alternative to traditional manure is still not very widespread due to the lack of knowledge among farmers. In our survey, we explored whether providing farmers with information about the digestate can affect farmers’ willingness to pay for buying it instead of the traditional manure used by farmers as soil conditioner. By conducting a hypothetical multiple-price list experiment we show that information positively affects farmers’ willingness to pay (WTP) for digestate but information alone is not sufficient to create a new market for it because at the same price farmers always continue to buy manure. This finding raises some questions when estimating the effect of information, which while positive does not shift farmers’ decisions to use an unfamiliar good. This result suggests that information provided to farmers elicited a WTP not sufficient to replace traditional manure with digestate.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41815573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The relevance of market cycles is known in the financial markets and in the context of real estate valuations it manifests itself in the estimate of the “exit value” of the Discounted Cash Flow Analysis. The hypothesis that the market cycle has a behaviour very similar to what happened in the past introduces some risks and uncertainty in the estimated value. To allow a more extensive use of cyclical capitalization in formulating value judgments, this paper proposes two methodological adaptations to the original model: the first, based on the presence of a regular market trend; the second based on the hypothesis of irregular market cycles and therefore more representative of the dynamics to which a specific real estate segment is exposed. In the perspective of a more extensive availability of information, data and extra-data, other application areas are also identified on which further investigations need to be developed.
{"title":"Cyclical capitalization: basic models","authors":"M. d'Amato, G. Cucuzza","doi":"10.36253/aestim-12625","DOIUrl":"https://doi.org/10.36253/aestim-12625","url":null,"abstract":"The relevance of market cycles is known in the financial markets and in the context of real estate valuations it manifests itself in the estimate of the “exit value” of the Discounted Cash Flow Analysis. The hypothesis that the market cycle has a behaviour very similar to what happened in the past introduces some risks and uncertainty in the estimated value. To allow a more extensive use of cyclical capitalization in formulating value judgments, this paper proposes two methodological adaptations to the original model: the first, based on the presence of a regular market trend; the second based on the hypothesis of irregular market cycles and therefore more representative of the dynamics to which a specific real estate segment is exposed. In the perspective of a more extensive availability of information, data and extra-data, other application areas are also identified on which further investigations need to be developed. ","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46598950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
F. Di Liddo, F. Tajani, P. Amoruso, Rossana Ranieri, D. Anelli
The present research has focused on the development and experimentation of a model for the forced sale value determination. With reference to six study samples consisting of residential properties sold through judicial auctions between November 2020 and May 2021 and each of them located in an Italian region, the forced sale price, the market value assessed by a judicial valuer and the main influencing factors have been detected. The implementation of an econometric technique has allowed to obtain models for the forced sale value assessment and for the analysis of the factors that mostly influence the final hammer price and, therefore, the discount between the market value evaluated and the judicial price. In the context of the existing literature, the study represents the first attempt that proposes a quantification of the discount/premium coefficient based on the specific factors of the property, in order to provide a reliable assessment of the forced sale value.
{"title":"The assessment of the forced sale value in the Italian residential market","authors":"F. Di Liddo, F. Tajani, P. Amoruso, Rossana Ranieri, D. Anelli","doi":"10.36253/aestim-12953","DOIUrl":"https://doi.org/10.36253/aestim-12953","url":null,"abstract":"The present research has focused on the development and experimentation of a model for the forced sale value determination. With reference to six study samples consisting of residential properties sold through judicial auctions between November 2020 and May 2021 and each of them located in an Italian region, the forced sale price, the market value assessed by a judicial valuer and the main influencing factors have been detected. The implementation of an econometric technique has allowed to obtain models for the forced sale value assessment and for the analysis of the factors that mostly influence the final hammer price and, therefore, the discount between the market value evaluated and the judicial price. In the context of the existing literature, the study represents the first attempt that proposes a quantification of the discount/premium coefficient based on the specific factors of the property, in order to provide a reliable assessment of the forced sale value.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49212507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this study, decision tree regression, artificial neural networks (ANN) and support vector machines (SVM) methods are applied by using monthly data for the period 2013-2020 in the estimation of housing sales in Turkey. In the analysis, the volume of individual mortgage loans offered by banks, the average annual interest rate of mortgage loans from macroeconomic and market variables, the consumer price index (CPI), the BIST 100 index, the benchmark bond interest rate, gold prices and the values of the US dollar and Euro Turkish lira and the housing sales price per square meter in Turkey are used. As a result of the analysis carried out on the model created house sales prices in the Turkish housing market have been successfully estimated and in the light of these estimates, it is determined that banks can guide banks in the creation of various credit packages and appropriate loan targets to support the housing sector.
{"title":"Forecasting housing prices in Turkey by machine learning methods","authors":"M. Kayakuş, M. Terzioğlu, Filiz Yetiz","doi":"10.36253/aestim-12320","DOIUrl":"https://doi.org/10.36253/aestim-12320","url":null,"abstract":"In this study, decision tree regression, artificial neural networks (ANN) and support vector machines (SVM) methods are applied by using monthly data for the period 2013-2020 in the estimation of housing sales in Turkey. In the analysis, the volume of individual mortgage loans offered by banks, the average annual interest rate of mortgage loans from macroeconomic and market variables, the consumer price index (CPI), the BIST 100 index, the benchmark bond interest rate, gold prices and the values of the US dollar and Euro Turkish lira and the housing sales price per square meter in Turkey are used. As a result of the analysis carried out on the model created house sales prices in the Turkish housing market have been successfully estimated and in the light of these estimates, it is determined that banks can guide banks in the creation of various credit packages and appropriate loan targets to support the housing sector.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43095652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Viccaro, S. Romano, A. Coppola, G. Vaccaro, F. Riccioli, M. Cozzi
The Basilicata region (South of Italy) is land of truffles where the gastronomic, economic and cultural awareness has developed for this non-timber forest product only in the past decade. Little is known about truffle production and its social, economic and environmental implications. In this article we investigate the Basilicata truffle sector by devoting particular attention to the truffle hunters who gather the truffles from the forests. The data for the analysis were collected through a survey with the aim of describing the gathering activity (people involved, specie and quantities collected, etc.) and assessing its significance as a source of income. Results show that truffles can provide local communities with earning opportunities. However, the truffle sector needs to be protected and enhanced.
{"title":"The hidden value of non-timber forest products: income contribution of the Basilicata wild truffle","authors":"M. Viccaro, S. Romano, A. Coppola, G. Vaccaro, F. Riccioli, M. Cozzi","doi":"10.36253/aestim-12228","DOIUrl":"https://doi.org/10.36253/aestim-12228","url":null,"abstract":"The Basilicata region (South of Italy) is land of truffles where the gastronomic, economic and cultural awareness has developed for this non-timber forest product only in the past decade. Little is known about truffle production and its social, economic and environmental implications. In this article we investigate the Basilicata truffle sector by devoting particular attention to the truffle hunters who gather the truffles from the forests. The data for the analysis were collected through a survey with the aim of describing the gathering activity (people involved, specie and quantities collected, etc.) and assessing its significance as a source of income. Results show that truffles can provide local communities with earning opportunities. However, the truffle sector needs to be protected and enhanced.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41609730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
V. Alampi Sottini, Elena Barbierato, Irene Capecchi, Tommaso Borghini, Claudio Saragosa
Human well-being is affected by the design quality of the city in which they live and walk. This depends primarily on specific physical characteristics and how they are aggregated together. Many studies have highlighted the great potential of photographic data shared on the Flickr platform for analyzing environmental perceptions in landscape and urban planning. Other researchers have used panoramic images from the Google Street View (GSV) web service to extract data on urban quality. However, at the urban level, there are no studies correlating quality perceptions detected by social media platforms with spatial geographic characteristics through geostatistical models. This work proposes the analysis of urban quality in different areas of the Livorno city through a methodological approach based on Geographical Random Forest regression. The result offers important insights into the physical characteristics of a street environment that contribute to the more abstract qualities of urban design.
{"title":"Assessing the perception of urban visual quality: an approach integrating big data and geostatistical techniques","authors":"V. Alampi Sottini, Elena Barbierato, Irene Capecchi, Tommaso Borghini, Claudio Saragosa","doi":"10.36253/aestim-12093","DOIUrl":"https://doi.org/10.36253/aestim-12093","url":null,"abstract":"Human well-being is affected by the design quality of the city in which they live and walk. This depends primarily on specific physical characteristics and how they are aggregated together. Many studies have highlighted the great potential of photographic data shared on the Flickr platform for analyzing environmental perceptions in landscape and urban planning. Other researchers have used panoramic images from the Google Street View (GSV) web service to extract data on urban quality. However, at the urban level, there are no studies correlating quality perceptions detected by social media platforms with spatial geographic characteristics through geostatistical models. This work proposes the analysis of urban quality in different areas of the Livorno city through a methodological approach based on Geographical Random Forest regression. The result offers important insights into the physical characteristics of a street environment that contribute to the more abstract qualities of urban design.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44936330","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
C. Mazzocchi, L. Orsi, Carlo Bergamelli, Alberto Sturla
In recent years the bio-districts have been considerably spread in Italy. The bio-district can be defined as a locally rooted multifunctional project with the involvement of farms and institutions. Our research aims at assessing potential relations between territorial, socio-economic features and the presence of bio-districts in an area, by means of a logit regression analysis at municipal scale in Italy. Data have been collected from several sources, among which ISTAT digital databases. Main results show as farms with diversification activities and the presence of Local Action Groups are factors related to the rising of bio-districts in a territory. Moreover, the study highlights the role of bio-districts in disadvantageous and mountain areas, in developing effective territorial governance. In terms of policy implication, CAP 2023-2027 can constitute the ideal bench for testing bio-districts function playing a crucial role in reaching the objective set by the Farm to Fork strategy.
{"title":"Bio-districts and the territory: evidence from a regression approach","authors":"C. Mazzocchi, L. Orsi, Carlo Bergamelli, Alberto Sturla","doi":"10.36253/aestim-12163","DOIUrl":"https://doi.org/10.36253/aestim-12163","url":null,"abstract":"In recent years the bio-districts have been considerably spread in Italy. The bio-district can be defined as a locally rooted multifunctional project with the involvement of farms and institutions. Our research aims at assessing potential relations between territorial, socio-economic features and the presence of bio-districts in an area, by means of a logit regression analysis at municipal scale in Italy. Data have been collected from several sources, among which ISTAT digital databases. Main results show as farms with diversification activities and the presence of Local Action Groups are factors related to the rising of bio-districts in a territory. Moreover, the study highlights the role of bio-districts in disadvantageous and mountain areas, in developing effective territorial governance. In terms of policy implication, CAP 2023-2027 can constitute the ideal bench for testing bio-districts function playing a crucial role in reaching the objective set by the Farm to Fork strategy.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2022-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44905644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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