I remember hearing it in context the context of describing a social science modeling tool. The example I remember talked about trying to ascribe values to component parts that compose property values. For example, a house's value would be impacted by neighborhood, traffic, schools, location to an economic center, etc. and there are models that try to quantify the value that each of these component parts contributes to the total value of the property. This type of model was described as a [blank] pricing/valuation model. I think I remember the blank word starting with an "h" but I don't know.


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I'm creating an answer based on Joe Dark's comment:


What is 'Hedonic Pricing' Hedonic pricing is a model identifying price factors according to the premise that price is determined both by internal characteristics of the good being sold and external factors affecting it.

BREAKING DOWN 'Hedonic Pricing'

The most common example of the hedonic pricing method is in the housing market: the price of a property is determined by the characteristics of the house (size, appearance, features, condition) as well as the characteristics of the surrounding neighborhood (accessibility to schools and shopping, level of water and air pollution, value of other homes, etc.) The hedonic pricing model is used to estimate the extent to which each factor affects the price.

Source: http://www.investopedia.com/terms/h/hedonicpricing.asp

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