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Journal article

Bootstrapping a Hedonic Price Index: Experience from Used Cars Data

  • Beer, Michael Seminar of Statistics, Dept. of Quantitative Economics, University of Fribourg Switzerland, Bd de Perolles 90, 1700, Fribourg, Switzerland
    20.01.2007
Published in:
  • AStA Advances in Statistical Analysis. - 2007, vol. 91, no. 1, p. 77-92
hedonic regression
hedonic price indices
bootstrap methods
wild bootstrap
confidence intervals
used cars
English Every hedonic price index is an estimate of an unknown economic parameter. It depends, in practice, on one or more random samples of prices and characteristics of a certain good. Bootstrap resampling methods provide a tool for quantifying sampling errors. Following some general reflections on hedonic elementary price indices, this paper proposes a case-based, a model-based, and a wild bootstrap approach for estimating confidence intervals for hedonic price indices. Empirical results are obtained for a data set on used cars in Switzerland. A simple and an enhanced adaptive semi-logarithmic model are fit to monthly samples, and bootstrap confidence intervals are estimated for Jevons-type hedonic elementary price indices.
Faculty
Faculté des sciences économiques et sociales et du management
Department
Département d'économie quantitative
Language
  • English
Classification
Economics
License
License undefined
Identifiers
Persistent URL
https://folia.unifr.ch/unifr/documents/302714
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