Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes: Special Application to Information Technology Products

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Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes: Special Application to Information Technology Products

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Jack Triplett ()

Abstract

This handbook reviews the methods employed in price indexes to adjust for quality change: “conventional” quality adjustment methods, which are explained in Chapter II, and hedonic price indexes (Chapter III). Hedonic indexes have a prominent place in price indexes for information and communication technology (ICT) products in several OECD countries, and are also used for measuring prices for some other goods and services, notably housing. The handbook’s objective is to contribute to a better understanding of the merits and shortcomings of conventional and hedonic methods, and to provide an analytic basis for choosing among them.

This handbook compares and contrasts the logic and statistical properties of hedonic methods and conventional methods and the results of employing them in different circumstances. In Chapter IV, it reviews empirical evidence on the difference that alternative methods make in practice, and offers an evaluation framework for determining which is better. In ...

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Paper provided by OECD Directorate for Science, Technology and Industry in its series OECD Science, Technology and Industry Working Papers with number 2004/9.

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Date of creation: 08 Oct 2004
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Handle: RePEc:oec:stiaaa:2004/9-en

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This paper has been announced in the following NEP Reports:

NEP-ALL-2005-08-13 (All new papers)

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Michael Beer, 2007. "Bootstrapping a hedonic price index: experience from used cars data," AStA Advances in Statistical Analysis, Springer, vol. 91(1), pages 77-92, March. [Downloadable!] (restricted)
Other versions:
- Michael Beer, 2005. "Bootstrapping a Hedonic Price Index: Experience from Used Cars Data," DQE Working Papers 4, Department of Quantitative Economics, University of Freiburg/Fribourg Switzerland, revised 20 Jan 2007. [Downloadable!]
Lars Nesheim, 2006. "Hedonic price functions," CeMMAP working papers CWP18/06, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]
Dogaru, Vasile, 2005. "The general validity of comparative advantage in trade exchanges," MPRA Paper 6882, University Library of Munich, Germany. [Downloadable!]
Dogaru, Vasile, 2007. "Trade Costs Algorithm in Manoilescu Generalised Scheme," MPRA Paper 6919, University Library of Munich, Germany. [Downloadable!]

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