Ponnaluru, S S; Marsh, T L and Brady, M (2012) Spatial price analysis of used construction equipment: The case of excavators. Construction Management and Economics, 30(11), pp. 981-994. ISSN 1466433X
Abstract
Equipment represents one of the largest input expenditures for the construction sector and other firms. Yet, prices of used construction equipment have not been widely studied in the economic literature. A spatial hedonic price function is specified and estimated for used excavators sold by auction in North America from 1996 to 2006. The results indicate that prices of used excavators differ significantly for various reasons. Controlling for characteristics of the machinery, we find evidence of regional price variation and 'within sale' spatial effects. Prices also vary between auction houses themselves.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction equipment; equipment auctions; spatial price analysis |
| Index terms: | construction sector, variation, evidence, hedonic price, construction equipment |
| Subjects: | evaluation and assessment methods, real estate economics, contractual condition, construction equipment, industry analysis |
| Topics: | Plant and Equipment, Research Practice, Contract Administration, Urban Studies |
| Descriptive scope: | 4 PCTA |
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