A Quality-Adjusted Price Index for Personal Computers
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.
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Volume (Year): 12 (1994)
Issue (Month): 1 (January)
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