Statistical Theory of Hedonic Price Indices
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2002
18
Hedonic regression
functional forms of hedonic equations
hedonic price of a good
true hedonic price index
true hedonic Laspeyres price index, true hedonic Paasche price index
true adjacent periods price index
estimated hedonic price indices
English
In the economic literature, essentially, hedonic techniques either are applied straightforwardly or the economic foundations of the hedonic hypothesis are discussed. In this paper, the statistical foundations of hedonic price indices are developed. After a short overview on well-known functional forms of hedonic equations, first, precise hedonic notions of a good and its price are specified. These specifications allow a clear-cut definition of true hedonic price indices. Then, the problem of estimating hedonic price indices is treated. It is shown, first, that the usual hedonic price index formulae result from estimating certain true indices in a special way and, second, that the techniques used in practice for estimating hedonic indices are just first approaches.
- Faculty
- Faculté des sciences économiques et sociales et du management
- Department
- Département d'économie quantitative
- Language
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- English
- Classification
- Economics
- License
- License undefined
- Identifiers
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- RERO DOC 30792
- Persistent URL
- https://folia.unifr.ch/unifr/documents/302717
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