Understanding diamond pricing using unconditional quantile regressions

HAL Id: halshs-00853384

https://halshs.archives-ouvertes.fr/halshs-00853384

Preprint submitted on 22 Aug 2013

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Understanding diamond pricing using unconditional

quantile regressions

Nicolas G. Vaillant, François-Charles Wolff

To cite this version:

Nicolas G. Vaillant, François-Charles Wolff. Understanding diamond pricing using unconditional quan-tile regressions. 2013. �halshs-00853384�

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BEC1911566871N+B1F1BE1BE 3B4131BC1A3E;1+1E1EA1BA13DDB3B1 1AE1BCFBB11E3FBC1B1AE12BE163ECN1"EE9BDF34F#9$6FB646A3B11551DD17"8!1 BFD1 61 FB1 51 /EBE)1 91 1566&71 N2BB31 3BE1 FEFECCBCN1 B646AE3B91 1 441 DD1&@8"&4811

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/33CEF1Q117&4771&64AEF8EA948'F%F4E1F969BD1.B312BEFCB41?FECC115E1DF#1 33A1 $01 17&&&71 N5EF#C1 EFCC1 3F#EC1 B1 BEF3B31 F3EN1 649F 65F 4E493649F

B646A3B11'!1DD14"8@1 3CE16117&4'71N(EB1DFBEC131BDBB13F#EC;1?F1BEFEB3B1B1DFE1DEBBN1 649F65F(633B9FB646A)11!51DD18'"@@1 611DEBE1+11567671N?FBB133BEC1B1AE13F#E1F1B3C10BEE11FBC1 EA3BFN1B646A3BF4*3)11'!1DD18@8"8M!1 FEE19117!&&71CDEFDE6)F65FDEFE3EFB92F%4FEB646A3BF8)F34FDEFE6364F65F3433641 232B315E1DF#1 1 1 1 1

7@1 1 AB651&'129E571D14A9CD341 +CCAEF1 1 >FBB31F1 1 .CAB1 1 0EF31 1 3EFC1 1 (E3F1 1 23F BCE1 1 K31 1 ?E3F1 1 ?FBECC1 1 33B31 1 9FB33F1 1 111116FE;1DBFEC1F1456F39A64811B"B371 1 1 1 1

7M1 1 AB651)'1*A786A8AD31D14A9CD341E6AF571 1 1 6FE;13AFCC133BC1CB1331F1456F39A64811 1 1 1 0 10 20 30 40 F re q u e n c y ( in % ) <2000 2000-5000 5000-10000 10000-25000 25000-50000 50000-100000 >100000 Price in euros

741 1 AB651,'13514A9CD341E6AF5%5AB816598AD37AE1 1 1 6FE;13AFCC133BC1CB1331F1456F39A64811 1 1 6 8 10 12 14 P ri c e ( ln ) -1 0 1 2 3 Carats (ln)

7!1 1 AB651-'1D34A8AD391938A51578AC98571D18514A9CD341E6AF5%5AB816598AD37AE1 1 1 6FE;13AFCC133BC1CB1331F1456F39A64811 1 1 1 1 1 1 1 1 1.4 1.6 1.8 2 2.2 C a ra t w e ig h t c o e ff ic ie n t 0 10 20 30 40 50 60 70 80 90 100

Quantile of diamond price

Brilliant diamonds

7 & 1 1  AB  65 1/ '1  C  5 61D 14 A9 C D 3 4 71 $ 1F 9 69 81% 5 AB  81 1 1 6   F E ;13  A  FC C1 3   3 B  C1 CB  1 3 3 1F   14 56 F 39 A 6 4 8 1 1 5  E 1;1 9 A E 1C 3  D E 1BC 1F E C FB E  1 1 B3     C1 A  CE 1 E B A 1B C1   D FBC E  1 E  E E  16 ' 13   17 5 @ 1 3 F3 C 1 1 1 1 1 0 2,000 4,000 6,000 8,000 Number of diamonds .4 .41 .42 .43 .44 .45 .46 .47 .48 .49 .5 .51 .52 .53 .54 .55 .56 .57 .58 .59 .6 .61 .62 .63 .64 .65 .66 .67 .68 .69 .7 .71 .72 .73 .74 .75 .76 .77 .78 .79 .8 .81 .82 .83 .84 .85 .86 .87 .88 .89 .9 .91 .92 .93 .94 .95 .96 .97 .98 .99 1 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.1 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.2 1.21 1.22 1.23 1.24 1.25

561 1 AB6510'1*A7FD38A3A8$1A314A9CD341E6AF541$1F96981%5AB81 6'6"6@&13F31 1 6@6"6M&13F31 1 6M6"64&13F31 1 646"6!&13F31 1 6!6"6&&13F31 1 6&6"76&13F3C1 1 766"77&13F3C1 1 776"75&13F3C1 1 756"78&13F3C1 1 786"7'&13F3C1 1 7'6"7@&13F3C1 1 7@6"7M&13F3C1 1 1116FE;13AFCC133BC1CB1331F1456F39A6481 1115E;1?FBE1BFE3CEC13FE13BE1F1/E3C"+CE1,EB3B1ECB3EC11 1 1 1 -25 0 25 50 75 100 P ri c e in c re a s e ( in % ) .4 .45 .5 .55 .6 Carat weight

Row price Price net of composition effect

-20 0 20 40 60 P ri c e in c re a s e ( in % ) .5 .55 .6 .65 .7 Carat weight

Row price Price net of composition effect

-20 0 20 40 60 P ri c e in c re a s e ( in % ) .6 .65 .7 .75 .8 Carat weight

Row price Price net of composition effect

0 10 20 30 40 P ri c e in c re a s e ( in % ) .7 .75 .8 .85 .9 Carat weight

Row price Price net of composition effect

-20 0 20 40 60 P ri c e in c re a s e ( in % ) .8 .85 .9 .95 1 Carat weight

Row price Price net of composition effect

-20 0 20 40 60 P ri c e in c re a s e ( in % ) .9 .95 1 1.05 1.1 Carat weight

Row price Price net of composition effect

-10 0 10 20 30 P ri c e in c re a s e ( in % ) 1 1.05 1.1 1.15 1.2 Carat weight

Row price Price net of composition effect

0 10 20 30 40 P ri c e in c re a s e ( in % ) 1.1 1.15 1.2 1.25 1.3 Carat weight

Row price Price net of composition effect

0 10 20 30 40 P ri c e in c re a s e ( in % ) 1.2 1.25 1.3 1.35 1.4 Carat weight

Row price Price net of composition effect

-10 0 10 20 30 P ri c e in c re a s e ( in % ) 1.3 1.35 1.4 1.45 1.5 Carat weight

Row price Price net of composition effect

-20 -10 0 10 20 30 P ri c e in c re a s e ( in % ) 1.4 1.45 1.5 1.55 1.6 Carat weight

Row price Price net of composition effect

-5 0 5 10 15 20 P ri c e in c re a s e ( in % ) 1.5 1.55 1.6 1.65 1.7 Carat weight

571 1

1

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1 1 FEF416BA41:E11F6771 "65!5---1 1666871 "65M7---1 1666871 "65@4---1 1666871

1 1 FEF416BA41:E11F6571 "684!---1 1666871 "684M---1 1666871 "6845---1 1666871

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