The relevance of hedonic price indices
AbstractWe argue that for the case of heterogeneous commodities with infrequent tradings, such as paintings, it is relevant to base a price index on hedonic regressions using all sales and not resales only. To support this conclusion we construct a price index for paintings by Impressionists and their followers and compare the various estimators using bootstrapping techniques. Copyright Kluwer Academic Publishers 1996
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Bibliographic InfoArticle provided by Springer in its journal Journal of Cultural Economics.
Volume (Year): 20 (1996)
Issue (Month): 1 (March)
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Web page: http://www.springerlink.com/link.asp?id=100284
price index; heterogeneous commodities; returns on art investment;
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