| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21485 |
| 来源ID | Working Paper 21485 |
| Panel Data Hedonics: Rosen's First Stage as a \"Sufficient Statistic\" | |
| H. Spencer Banzhaf | |
| 发表日期 | 2015-08-24 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Traditional cross-sectional estimates of hedonic price functions can recover marginal willingness to pay for characteristics, but face endogeneity problems for estimating non-marginal welfare measures. I show that when panel data on household demands are available, one can construct a second-order approximation to non-marginal welfare measures using only the first-stage marginal prices. With repeated cross sections of product prices, the measure can be set identified or, under a single-crossing restriction, point identified. Bounds also can be constructed when there are mobility costs. Finally, a variant remains valid when individual preferences shift over time. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Welfare and Collective Choice ; Public Economics ; Public Goods ; Environmental and Resource Economics ; Environment ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w21485 |
| 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/579160 |
| 推荐引用方式 GB/T 7714 | H. Spencer Banzhaf. Panel Data Hedonics: Rosen's First Stage as a \"Sufficient Statistic\". 2015. |
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