@ARTICLE{17117566_1995,
author = {Feenstra, Robert C.},
keywords = {индекс, индексный метод, индекс цен},
title = {Symposium on Hedonic Methods in Industrial Economics Exact Hedonic
Price Indexes },
journal = {Review of Economics and Statistics},
year = {1995},
month = {},
volume = {77},
number = {4},
pages = {634-653.},
url = {http://ecsocman.hse.ru/text/17117566/},
publisher = {},
language = {ru},
abstract = {Using the marginal value of characteristics, we show how to construct
bounds on the exact hedonic price index. When prices are above
marginal costs then our bounds still apply, but the value of
characteristics cannot be measured so easily from a hedonic
regression. Since the price--cost markups are an omitted variable,
they will bias the coefficients obtained. For a special class of
utility functions, we argue that a linear regression will still
provide a measure of the marginal value of characteristics, but a
log-linear regression will overstate these values. },
annote = {Using the marginal value of characteristics, we show how to construct
bounds on the exact hedonic price index. When prices are above
marginal costs then our bounds still apply, but the value of
characteristics cannot be measured so easily from a hedonic
regression. Since the price--cost markups are an omitted variable,
they will bias the coefficients obtained. For a special class of
utility functions, we argue that a linear regression will still
provide a measure of the marginal value of characteristics, but a
log-linear regression will overstate these values. }
}