The Comparison of the three Laptop Price Estimators in the Iran Market: Hedonic Regression, Feed Forward and GMDH Neural Network

In this paper, laptop price estimator is developed by three approaches: Hedonic Regression, Artificial Neural Networks and ANN-GMDH. The data for this research is gathered from Tehran Bazar Reza and from laptops’ manufactures’ official websites. The results show that Artificial Neural networks’ model is the best estimator and its error is less than the other two estimators. Also, CPU Cache, DVDROM, Graphic Card Memory and Installed Windows on laptop positively affect the price of a laptop. By considering the result of this study, laptop importers can reach to more benefits by importing those laptops that have high willingness to pay by its buyers.