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What Does Hedonic Mean?

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Vikash Swaroop Profile
Vikash Swaroop answered
The word hedonic is defined as something which is of, relates to or is marked by pleasure. Hedonic is an adjective which related to the likes and dislikes of a person. It means something which is devoted to pleasure.

A hedonic pricing approach is something which derives its values by decomposing the market prices of the components. These encompass the environmental and other characteristics through the study of the values of property, the rates of wages and other factors. The premise of the approach of hedonic pricing approach is that the vale of an asset depends on the stream of benefits that can be derived out of it. It also includes those amenities that are provided by the environment.

A hedonic tone is defined as the extent to which an odour is perceived as either a pleasant aroma or an unpleasant stench. It is expressed in terms of one's personal preference, such as something which is disliked very much, something which is liked slightly or something which evokes even the facial expressions such as a smile or a frown.
Vikash Swaroop Profile
Vikash Swaroop answered
The word 'hedonic' is an adjective and it describes a kind of human being for whom pleasure is the only thing important in this world. Usually the abovementioned word is not used popularly and another word 'hedonist' that imbued in it the meaning that the adjective describes is in popular use. There is another adjective 'hedonistic' that many people use for the phenomenon and the belief of a hedonistic person is called hedonism.

The word can trace its origin in the seventeenth century Greek language where the word 'hedonikos' was used for something pleasurable.

Sometimes people debate that the concept of indulging into pleasure is a sin but hardly any evidence existed in the world that can claim that pleasure is a sin. Most of the people countered the claim saying that pleasure is a bounty from god and everyone should enjoy it.
Evelyn Vaz Profile
Evelyn Vaz answered
Hedonic actually means "relating to utility". It also literally means "related to pleasure". This term is mostly used by economist and odour scientist. In economics it is mostly referred to estimate demand or prices. This term hedonic is mostly used in the field of real estate economics and consumer price index (CPI) calculations.

In consumer price index (CPI) calculations, hedonic pricing is used in order to determine the quality changes in order to give out a housing price index. At times it is even used for assessing the value of a property. It is also used for housing characteristics and also house demand. It is also used to test assumptions in spatial money matters.

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