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A Quality-Adjusted Price Index for Personal Computers

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  • Nelson, Randy A
  • Tanguay, Tim L
  • Patterson, Christopher D

Abstract

This study estimates quality-adjusted price indexes for personal computers. Three separate hedonic models are estimated using data from 1,841 personal computers over the period 1984-91. In addition to the traditional linear model, a nonlinear model is developed and estimated. The nonlinear model is parsimonious in parameters, allows time-varying attribute prices, and can be estimated using a pooled data set. The results indicate that nominal quality-adjusted prices of mail-order firms declined at an average annual rate of 24.62 percent; quality-adjusted prices of major manufacturers declined at a slower rate.

Suggested Citation

  • Nelson, Randy A & Tanguay, Tim L & Patterson, Christopher D, 1994. "A Quality-Adjusted Price Index for Personal Computers," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(1), pages 23-31, January.
  • Handle: RePEc:bes:jnlbes:v:12:y:1994:i:1:p:23-31
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    Citations

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    Cited by:

    1. Steven Caudill & Daniel Gropper, 1997. "A quality-adjusted price index for mainframe computers," Applied Economics, Taylor & Francis Journals, vol. 29(12), pages 1605-1610.
    2. Ludwig von Auer & Mark Trede, 2014. "Markets with Technological Progress: Pricing Quality, and Novelty," CQE Working Papers 3014, Center for Quantitative Economics (CQE), University of Muenster.
    3. Paul Chwelos, 2003. "Approaches to performance measurement in hedonic analysis: Price indexes for laptop computers in the 1990's," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 12(3), pages 199-224.
    4. Kai-Lung Hui, 2004. "Product Variety Under Brand Influence: An Empirical Investigation of Personal Computer Demand," Management Science, INFORMS, vol. 50(5), pages 686-700, May.
    5. Moch, Dietmar, 2001. "Price indices for information and communication technology industries: an application to the German PC market," ZEW Discussion Papers 01-20, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    6. L von Auer & M Trede, 2012. "The dynamics of brand equity: a hedonic regression approach to the laser printer market," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 63(10), pages 1351-1362, October.
    7. Silver, Mick, 2000. "Hedonic regressions: an application to VCRs using scanner data," Omega, Elsevier, vol. 28(4), pages 399-408, August.
    8. Çağlayan Ebru & Arikan Eban, 2011. "Determinants of house prices in Istanbul: a quantile regression approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 45(2), pages 305-317, February.
    9. Naoki Watanabe & Ryo Nakajima & Takanori Ida, 2010. "Quality-Adjusted Prices of Japanese Mobile Phone Handsets and Carriers’ Strategies," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 36(4), pages 391-412, June.
    10. Georg Licht & Dietmar Moch, 1999. "Innovationa and information technology in services," Canadian Journal of Economics, Canadian Economics Association, vol. 32(2), pages 363-383, April.
    11. Mick Silver & Saeed Heravi, 2003. "The Measurement of Quality-Adjusted Price Changes," NBER Chapters,in: Scanner Data and Price Indexes, pages 277-316 National Bureau of Economic Research, Inc.
    12. Meijers, Huub & Hollanders, Hugo, 2003. "Sources of Growth: Measuring the Knowledge Based Economy," Research Memorandum 032, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    13. Edward Oczkowski, 2016. "Analysing Firm-level Price Effects for Differentiated Products: The Case of Australian Wine Producers," Australian Economic Papers, Wiley Blackwell, vol. 55(1), pages 43-62, March.
    14. Niven WINCHESTER & David GREENAWAY, "undated". "Capital-Skill Complementarity and Rising Wage Inequality in the UK," EcoMod2004 330600159, EcoMod.
    15. Christos Ioannidis & Mick Silver, 2003. "Chained, exact and superlative hedonic price changes: estimates from microdata," Applied Economics, Taylor & Francis Journals, vol. 35(9), pages 1005-1014.
    16. Andrés Maroto-Sanchez, 2010. "Growth and productivity in the service sector: The state of the art," Working Papers 07/10, Instituto Universitario de Análisis Económico y Social.
    17. Adam Hale Shapiro & Ana Aizcorbe, 2010. "Implications of Consumer Heterogeneity on Price Measures for Technology Goods," BEA Working Papers 0062, Bureau of Economic Analysis.
    18. Ludwig Auer, 2007. "Hedonic price measurement: the CCC approach," Empirical Economics, Springer, vol. 33(2), pages 289-311, September.
    19. Terry Baker, 1997. "Quality-adjusted price indexes for portable computers," Applied Economics, Taylor & Francis Journals, vol. 29(9), pages 1115-1123.

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