Identification and Estimation of Hedonic Models
Bibliographic Data
| ID | 10180286 |
|---|---|
| Authors | Ivar Ekeland (0000-0003-3429-6316, University of British Columbia), James J Heckman (0000-0002-0399-662X, American Bar Foundation), Lars Nesheim (0000-0001-5998-2158, Institute for Fiscal Studies) |
| Year | 2004 |
| Volume | 112 |
| Issue | S1 |
| Pages | S60-S109 |
| Publication date | 2004-02-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/379947 |
| OpenAlex | W2891377854 |
| Language | EN |
| Citations received | 48 |
| References cited | 18 |
This paper considers the identification and estimation of hedonic models. We establish that in an additive version of the hedonic model, technology and preferences are generically nonparametrically identified from data on demand and supply in a single hedonic market. The empirical literature that claims that hedonic models estimated on data from a single market are fundamentally underidentified is based on arbitrary linearizations that do not use all the information in the model. The exact economic model that justifies linear approximations is unappealing. Nonlinearities are generic features of equilibrium in hedonic models and a fundamental and economically motivated source of identification
Discrete choice · Econometrics · Economics · Estimation · Hedonic index · Hedonic Pricing · Identification (biology · Mathematical economics · Microeconomics · Price index · Economic theories and models · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
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| Unique citing works | 48 |
|---|---|
| Citations per year | 2,4 |
| Citation span | 2006 - 2026 (21) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 48 |