Demand estimation with heterogeneous consumers and unobserved product characteristics: A hedonic approach

Journal of Political Economy

Volumn 113, Issue 6, 2005, Pages 1239-1276

  Bajari, Patrick ^a,b   Benkard, C Lanier ^b,c  

^a UNIVERSITY OF MICHIGAN   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c STANFORD UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CONSUMER-RESOURCE INTERACTION; MODEL; POLITICAL ECONOMY;

EID: 33645096887     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/498586     Document Type: Article

References (36)

1. Ackerberg, Daniel A., and Marc Rysman. Forthcoming. "Unobserved Product Differentiation in Discrete Choice Models: Estimating Price Elasticities and Welfare Effects." Rand J. Econ.
2. Bajari, Patrick, and Matthew E. Kahn. 2005. "Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities." J. Bus. and Econ. Statis. 23 (January): 20-33.
3. Bartik, Timothy J. 1987. "The Estimation of Demand Parameters in Hedonic Price Models." J.P.E. 95 (February): 81-88.
4. Bayer, Patrick, Robert McMillan, and Kim Rueben. 2004. "An Equilibrium Model of Sorting in an Urban Housing Market: A Study of the Causes and Consequences of Racial Segregation." Working Paper no. 10865 (November), NBER, Cambridge, MA.
5. Benkard, C. Lanier, and Patrick Bajari. 2004. "Demand Estimation with Heterogeneous Consumers and Unobserved Product Characteristics: A Hedonic Approach." Working Paper no. 10278 (February), NBER, Cambridge, MA.
6. Benkard, C. Lanier, and Patrick Bajari. 2005. "Hedonic Price Indexes with Unobserved Product Characteristics, and Application to Personal Computers." J. Bus. and Econ. Statis. 23 (January): 61-75.
7. Berry, Steven. 1994. "Estimating Discrete-Choice Models of Product Differentiation." Rand J. Econ. 25 (Summer): 242-62.
8. Berry, Steven, James Levinsohn, and Ariel Pakes. 1995. "Automobile Prices in Market Equilibrium." Econometrica 63 (July): 841-90.
9. Berry, Steven, and Ariel Pakes. 2001. "Estimating the Pure Hedonic Discrete Choice Model." Manuscript, Yale Univ.
10. Brown, James N., and Harvey S. Rosen. 1982. "On the Estimation of Structural Hedonic Price Models." Econometrica 50 (May): 765-68.
11. Chernozhukov, Victor, and Christian Hansen. 2005. "An IV Model of Quantile Treatment Effects." Econometrica 73 (January): 245-61.
12. Chernozhukov, Victor, Guido W. Imbens, and Whitney K. Newey. 2004. "Instrumental Variable Identification and Estimation of Nonseparable Models via Quantile Conditions." Manuscript, Massachusetts Inst. Tech.
13. Chesher, Andrew. 2003. "Identification in Nonseparable Models." Econometrica 71 (September): 1405-41.
14. Court, A. T. 1939. "Hedonic Price Indexes with Automotive Examples." In The Dynamics of Automobile Demand. New York: General Motors.
15. Ekeland, Ivar, James J. Heckman, and Lars Nesheim. 2004. "Identification and Estimation of Hedonic Models." J.P.E. 112, no. 1, pt. 2 (February): S60-S109.
16. Epple, Dennis. 1987. "Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products." J.P.E. 95 (February): 59-80.
17. Fan, Jianqing, and Irène Gijbels. 1996. Local Polynomial Modelling and Its Applications. London: Chapman and Hall.
18. Gale, David, and Hukukane Nikaidô. 1965. "The Jacobian Matrix and Global Univalence of Mappings." Mathematische Annalen 159: 81-93.
19. Goettler, Ronald L., and Ron Shachar. 2001. "Spatial Competition in the Network Television Industry." Rand J. Econ. 32 (Winter): 624-56.
20. Gorman, W. M. 1980. "A Possible Procedure for Analysing Quality Differentials in the Egg Market." Rev. Econ. Studies 47 (October): 843-56.
21. Griliches, Zvi. 1961. "Hedonic Price Indexes for Automobiles: An Econometric Analysis of Quality Change." In The Price Statistics of the Federal Government: Review, Appraisal, and Recommendations. New York: NBER.
22. Haile, Philip A., and Eli Tamer. 2003. "Inference with an Incomplete Model of English Auctions." J.P.E. 111 (February): 1-51.
23. Imbens, Guido W., and Whitney K. Newey. 2003. "Identification and Estimation of Triangular Simultaneous Equations Models without Additivity." Manuscript, Massachusetts Inst. Tech.
24. Lancaster, Kelvin J. 1966. "A New Approach to Consumer Theory." J.P.E. 74 (April): 132-57.
25. Lancaster, Kelvin J. 1971. Consumer Demand: A New Approach. New York: Columbia Univ. Press.
26. Manski, Charles F., and John V. Pepper. 2000. "Monotone Instrumental Variables: With an Application to the Returns to Schooling." Econometrica 68 (July): 997-1010.
27. Manski, Charles F., and Elie Tamer. 2002. "Inference on Regressions with Interval Data on a Regressor or Outcome." Econometrica 70 (March): 519-46.
28. Matzkin, Rosa L. 2003. "Nonparametric Estimation of Nonadditive Random Functions." Econometrica 71 (September): 1332-75.
29. Motzkin, T. S., H. Raiffa, G. L. Thompson, and R. M. Thrall. 1953. "The Double Description Method." In Contributions to the Theory of Games, vol. 2, edited by H. W. Kuhn and A. W. Tucker. Princeton, NJ: Princeton Univ. Press.
30. Nevo, Aviv. 2001. "Measuring Market Power in the Ready-to-Eat Cereal Industry." Econometrica 69 (March): 307-42.
31. Pakes, Ariel, Jack Porter, Kate Ho, and Joy Ishii. 2005. "Moment Inequalities and Their Application." Manuscript, Harvard Univ.
32. Petrin, Amil. 2002. "Quantifying the Benefits of New Products: The Case of the Minivan." J.P.E. 110 (August): 705-29.
33. Petrin, Amil, and Kenneth Train. 2004. "Omitted Product Attributes in Discrete Choice Models." Manuscript, Univ. Chicago.
34. Rosen, Sherwin. 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition." J.P.E. 82 (January/February): 34-55.
35. Rossi, Peter E., Robert E. McCulloch, and Greg M. Allenby. 1996. "The Value of Purchase History Data in Target Marketing." Marketing Sci. 15 (4): 321-40.
36. Trajtenberg, Manuel. 1989. "The Welfare Analysis of Product Innovations, with an Application to Computed Tomography Scanners." J.P.E. 97 (April): 444-79.