Identification and Estimation of Hedonic Models
Ekeland, Ivar; Heckman, James J.; Nesheim, Lars (2004), Identification and Estimation of Hedonic Models, The Journal of Political Economy, 112, S1, p. S60-S109. http://dx.doi.org/10.1086/379947
TypeArticle accepté pour publication ou publié
Journal nameThe Journal of Political Economy
University of Chicago Press
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Abstract (EN)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.
Subjects / Keywordsadditive hedonic models; semiparametric estimation
Showing items related by title and author.
Kübler, Felix; Chiappori, Pierre-André; Ekeland, Ivar; Polemarchakis, Heracles M. (2000) Document de travail / Working paper
Kubler, Félix; Chiappori, Pierre-André; Ekeland, Ivar; Polemarchakis, Heracles M. (2002) Article accepté pour publication ou publié