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Price hedonics: a critical review

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  • Charles R. Hulten
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    Abstract

    This paper was presented at the conference "Economic Statistics: New Needs for the Twenty-First Century," cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. The main objective of this paper is to make a start in the evaluation of price hedonics. The author describes the hedonic model and reviews its main uses, because the credibility of price hedonics depends in part on the current state of academic research. This is a brief overview. The author then turns to some of the standard criticisms of price hedonics and moves into the uncharted waters of the political economy of price measurement.

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    File URL: http://www.newyorkfed.org/research/epr/03v09n3/0309hult.pdf
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    Bibliographic Info

    Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review.

    Volume (Year): (2003)
    Issue (Month): Sep ()
    Pages: 5-15

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    Handle: RePEc:fip:fednep:y:2003:i:sep:p:5-15:n:v.9no.3

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    Related research

    Keywords: Statistics ; Prices ; Consumer price indexes;

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    Cited by:
    1. Alejandro García Pozo, 2008. "Determinantes del precio de la vivienda usada en Málaga: Una aplicación de la metodología hedónica," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 2, pages 135-158.
    2. Barbosa, Renata Leite & Campos, Nauro F, 2008. "Paintings and Numbers: An Econometric Investigation of Sales Rates, Prices and Returns in Latin American Art Auctions," CEPR Discussion Papers 6806, C.E.P.R. Discussion Papers.
    3. Fuerst, Franz, 2007. "Office Rent Determinants: A Hedonic Panel Analysis," MPRA Paper 11445, University Library of Munich, Germany.
    4. Marco Valente, 2012. "Evolutionary demand: a model for boundedly rational consumers," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 1029-1080, November.
    5. Piermassimo Pavese, 2007. "Hedonic Housing Price Indices: The Turinese Experience," Rivista di Politica Economica, SIPI Spa, vol. 97(6), pages 113-148, November-.

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