Used economy market insight: Sailboat industry pricing mechanism and regional effects.
With the popularity of circular economy around the world, transactions in the second-hand sailboat market are extremely active. Determining pricing strategies and exploring their regional effects is a blank area of existing research and has important practical and statistical significance. Therefore...
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| Format: | Article |
| Language: | English |
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Public Library of Science (PLoS)
2025-01-01
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| Series: | PLoS ONE |
| Online Access: | https://doi.org/10.1371/journal.pone.0315101 |
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| _version_ | 1832540234878812160 |
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| author | Zhanni Huang Hansheng Hu Di Wu |
| author_facet | Zhanni Huang Hansheng Hu Di Wu |
| author_sort | Zhanni Huang |
| collection | DOAJ |
| description | With the popularity of circular economy around the world, transactions in the second-hand sailboat market are extremely active. Determining pricing strategies and exploring their regional effects is a blank area of existing research and has important practical and statistical significance. Therefore, this article uses the random forest model and XGBoost algorithm to identify core price indicators, and uses an innovative rolling NAR dynamic neural network model to simulate and predict second-hand sailboat price data. On this basis, we also constructed a regional effect multi-level model (RE-MLM) from three levels: geography, economy and country to clarify the impact of geographical areas on sailboat prices. The research results show that, first of all, the price of second-hand sailboats fluctuates greatly, and the predicted value better reflects the overall average price level. Secondly, there are significant regional differences in price levels across regions, economies and ethnic groups. Therefore, the price of second-hand sailboats is affected by many factors and has obvious regional effects. In addition, the model evaluation results show that the model constructed in this study has good accuracy, validity, portability and versatility, and can be extended to price simulation and regional analysis of different markets in different regions. |
| format | Article |
| id | doaj-art-28740f8c4c6d472a89ec66dc6468d89a |
| institution | Kabale University |
| issn | 1932-6203 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj-art-28740f8c4c6d472a89ec66dc6468d89a2025-02-05T05:31:12ZengPublic Library of Science (PLoS)PLoS ONE1932-62032025-01-01201e031510110.1371/journal.pone.0315101Used economy market insight: Sailboat industry pricing mechanism and regional effects.Zhanni HuangHansheng HuDi WuWith the popularity of circular economy around the world, transactions in the second-hand sailboat market are extremely active. Determining pricing strategies and exploring their regional effects is a blank area of existing research and has important practical and statistical significance. Therefore, this article uses the random forest model and XGBoost algorithm to identify core price indicators, and uses an innovative rolling NAR dynamic neural network model to simulate and predict second-hand sailboat price data. On this basis, we also constructed a regional effect multi-level model (RE-MLM) from three levels: geography, economy and country to clarify the impact of geographical areas on sailboat prices. The research results show that, first of all, the price of second-hand sailboats fluctuates greatly, and the predicted value better reflects the overall average price level. Secondly, there are significant regional differences in price levels across regions, economies and ethnic groups. Therefore, the price of second-hand sailboats is affected by many factors and has obvious regional effects. In addition, the model evaluation results show that the model constructed in this study has good accuracy, validity, portability and versatility, and can be extended to price simulation and regional analysis of different markets in different regions.https://doi.org/10.1371/journal.pone.0315101 |
| spellingShingle | Zhanni Huang Hansheng Hu Di Wu Used economy market insight: Sailboat industry pricing mechanism and regional effects. PLoS ONE |
| title | Used economy market insight: Sailboat industry pricing mechanism and regional effects. |
| title_full | Used economy market insight: Sailboat industry pricing mechanism and regional effects. |
| title_fullStr | Used economy market insight: Sailboat industry pricing mechanism and regional effects. |
| title_full_unstemmed | Used economy market insight: Sailboat industry pricing mechanism and regional effects. |
| title_short | Used economy market insight: Sailboat industry pricing mechanism and regional effects. |
| title_sort | used economy market insight sailboat industry pricing mechanism and regional effects |
| url | https://doi.org/10.1371/journal.pone.0315101 |
| work_keys_str_mv | AT zhannihuang usedeconomymarketinsightsailboatindustrypricingmechanismandregionaleffects AT hanshenghu usedeconomymarketinsightsailboatindustrypricingmechanismandregionaleffects AT diwu usedeconomymarketinsightsailboatindustrypricingmechanismandregionaleffects |