| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17611 |
| 来源ID | Working Paper 17611 |
| Hedonic Prices and Implicit Markets: Estimating Marginal Willingness to Pay for Differentiated Products Without Instrumental Variables | |
| Kelly C. Bishop; Christopher Timmins | |
| 发表日期 | 2011-11-17 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | The hedonic model of Rosen (1974) has become a workhorse for valuing the characteristics of differentiated products despite a number of well-documented econometric problems. For example, Bartik (1987) and Epple (1987) each describe a source of endogeneity in the second stage of Rosen's procedure that has proven difficult to overcome. In this paper, we propose a new approach for recovering the marginal willingness-to-pay function that altogether avoids these endogeneity problems. Applying this estimator to data on large changes in violent crime rates, we find that marginal willingness-to-pay increases by ten cents with each additional violent crime per 100,000 residents. |
| 主题 | Environmental and Resource Economics ; Environment ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w17611 |
| 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/575286 |
| 推荐引用方式 GB/T 7714 | Kelly C. Bishop,Christopher Timmins. Hedonic Prices and Implicit Markets: Estimating Marginal Willingness to Pay for Differentiated Products Without Instrumental Variables. 2011. |
| 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 | ||
| w17611.pdf（347KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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