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Hedonics and Demand Analysis: The Implicit Demand for Player Attributes

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  • Stewart, Kenneth G
  • Jones, J C H

Abstract

Although a significant econometric literature is concerned with the implicit demand for the attributes of differentiated goods in hedonic pricing models, the literature has developed independently of modern econometric demand analysis. This study estimates factor demand systems using data on player characteristics employed by Major League Baseball teams and associated estimated hedonic prices. It is found that the implicit demand for player attributes by teams is largely consistent with the predictions of the neoclassical theory of the firm, in contrast to the results often obtained by empirical demand studies using conventional data sets. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Stewart, Kenneth G & Jones, J C H, 1998. "Hedonics and Demand Analysis: The Implicit Demand for Player Attributes," Economic Inquiry, Western Economic Association International, vol. 36(2), pages 192-202, April.
  • Handle: RePEc:oup:ecinqu:v:36:y:1998:i:2:p:192-202
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    Cited by:

    1. Kenneth Stewart & J. Jones, 2010. "Are sports teams multiproduct firms?," Empirical Economics, Springer, vol. 39(2), pages 487-514, October.
    2. Dadi Kristofersson & Kyrre Rickertsen, 2004. "Efficient Estimation of Hedonic Inverse Input Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 1127-1137.
    3. Kenneth Stewart, 2009. "Non-jointness and scope economies in the multiproduct symmetric generalized McFadden cost function," Journal of Productivity Analysis, Springer, vol. 32(3), pages 161-171, December.
    4. Cecilia Hammarlund, 2015. "The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 157-177.
    5. 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.

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