Avaliação de bens tangíveis: uma aplicação do método de preços hedônicos para avaliar atributos raros de peças filatélicas na construção de carteiras eficientes

Abstract

This work applies hedonic pricing models’ estimates in the construction of efficient portfolios of implicit assets. In doing so, it has been used the hedonic price method coupled with Markowitz’ efficient portfolio approach. First, the estimated implicit prices are used in calculating average returns and their variance-covariance matrix. Second, these results are employed in the construction of efficient portfolios. This sequence of procedures is applied in evaluating rare attributes of philatelic objects issued during the Brazilian imperial period between years 1843 and 1889. Results show evidences that efficient portfolios should be composed of a few stamps.