Research On Value Evaluation Model Of Household Used Car Based On Hedonic Price Theory

At present,the second-hand car market is developing well,the demand for second-hand cars is expanding,and consumers have higher and higher requirements for the evaluation level of second-hand cars.In the evaluation practice,due to the non-standard transaction process and the improper use of evaluation methods,the problems existing in the second-hand car evaluation,such as strong subjective randomness,low evaluation accuracy and difficulty in large-scale evaluation,are becoming more and more prominent.How to do a good job in the second-hand car evaluation,ensure the openness and objectivity in the evaluation process,and develop the second-hand car evaluation in the direction of batch and scale is an urgent problem to be solved in the second-hand car market.The key problem of second-hand car evaluation is the difficulty of selecting influencing factors and indicators,and the lack of theoretical support.At present,the existing literature mostly uses the subjective weighting methods such as analytic hierarchy process and Delphi method to assign the weight of influencing factors,which has strong subjective randomness and incomplete analysis,which reduces the accuracy of evaluation in practice.In view of the mature application of hedonic price theory in the fields of automobile pricing and real estate evaluation,this paper constructs the hedonic price model of household used cars from the improvement of the index system of influencing factors of second-hand car value.Firstly,using the hedonic price theory as the method of variable screening,the fluctuation of second-hand car value is decomposed into the fluctuation of its attribute characteristics.A total of 22 factors including the basic configuration,vehicle condition characteristics and market characteristics of second-hand cars are selected to construct the value evaluation index system of household second-hand cars.Secondly,24 brands with a brand share of more than 1%are selected as the research object.Factor analysis is introduced to reduce the dimension of 22 factors,alleviate the error of multicollinearity on the results,and obtain six common factors,so as to build the characteristic price model of household second-hand cars and provide a quantitative analysis theory and model for the evaluation of household second-hand cars.Finally,the model is applied to evaluate 30 cases,and the evaluation results are compared with the results of multiple linear regression.It is found that the hedonic price model in this paper has high evaluation accuracy,the error of more than 90%of the samples is controlled within 20%,and the evaluation results are better than the multiple linear model.The value evaluation model of household used cars constructed in this paper,on the one hand,expands the application field of hedonic price theory and provides a quantitative analysis theory and model for household used car evaluation.On the other hand,using the objective data of household used car transaction cases to empirically obtain the price of each characteristic attribute,so as to solve the problems of low efficiency and unfair evaluation results of manual evaluation.The model is applicable to the evaluation of household second-hand cars of different brands.The evaluation results can be obtained by inputting the information of the vehicle.The operation is simple,which is conducive to the large-scale and batch evaluation of second-hand cars,can meets the requirements of the growing second-hand car market,and has a certain use value.