| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9980 |
| 来源ID | Working Paper 9980 |
| Hedonic Price Indexes with Unobserved Product Characteristics, and Application to PC's | |
| C. Lanier Benkard; Patrick Bajari | |
| 发表日期 | 2003-09-22 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | We show that hedonic price indexes may be biased when not all product characteristics are observed. We derive two primary sources of bias. The first is a classical selection problem that arises due to changes over time in the values of unobserved characteristics. The second comes from changes in the implicit prices of unobserved characteristics. Next, we show that the bias can be corrected for under fairly general assumptions using extensions of factor analysis methods. We test our methods empirically using a new comprehensive monthly data set for desktop personal computer systems. For this data we find that the standard hedonic index has a slight upward bias of approximately 1.4\% per year. We also find that omitting an important characteristic (CPU benchmark) causes a large bias in the index with standard methods, but that this bias is essentially eliminated when the proposed correction is applied. |
| 主题 | Macroeconomics ; Business Cycles ; Econometrics ; Estimation Methods |
| URL | https://www.nber.org/papers/w9980 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567605 |
| 推荐引用方式 GB/T 7714 | C. Lanier Benkard,Patrick Bajari. Hedonic Price Indexes with Unobserved Product Characteristics, and Application to PC's. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9980.pdf（377KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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