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HEDONIC PRICING MODEL: A statistical model used to identify factors or influences on the price of good based on the notion that price is based on both intrinsic characteristic and external factors. The hedonic pricing model is most commonly used in the housing market in which the price of housing is based on the physical characteristics of the house (size, appearance, features) and the surrounding neighborhood (accessibility to schools and shopping, quality of other houses, availability of public services). Estimating hedonic prices makes it possible to identify the extent to which specific factors affect the price.
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EXPLOITATION The notion that capital owners and entrepreneurs of the second estate "take advantage" of workers of the third estate by paying them less than their contributions to production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for gnomes hiding in cypress trees.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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