Consumer Demand with Unobservable Product Attributes - Part I: Theory
AbstractThis paper develops a new framework for empirical modelling of consumer demand with particular reference to products that are differentiated with respect to quality and location attributes. The point of departure is a flexible representation of the distribution of product attributes and consumer tastes. From this representation and additional behavioral assumptions we derive a structural model for the distribution of the chosen product attributes and the associated quantities. Furthermore, an explicit relationship between the distribution of prices and unit values is obtained.
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Bibliographic InfoPaper provided by Research Department of Statistics Norway in its series Discussion Papers with number 166.
Date of creation: Feb 1996
Date of revision:
Price distribution; differentiated products; quality attributes; hedonic price indexes.;
Find related papers by JEL classification:
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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- Leif Brubakk & John K. Dagsvik, 1998. "Consumer Demand and Unobservable Product Attributes," Discussion Papers 223, Research Department of Statistics Norway.
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