Comment on “Simulation and Estimation of Hedonic Models” by Heckman, Matzkin and Nesheim
This paper contains commentary on the chapter “Simulation and Estimation of Hedonic Models” by Heckman, Matzkin and Nesheim that appeared in the volume "Frontiers in Applied General Equilibrium Modeling," Kehoe, Srinivasan and Whalley (eds.), Cambridge University Press, 2005. I explain in simple terms the sources of identification in their model. I also argue for the importance of economic theory in empirical work in general, and criticize various attempts to do "theory-free" analysis.
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- Ivar Ekeland & James J. Heckman & Lars Nesheim, 2004.
"Identification and Estimation of Hedonic Models,"
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- James Heckman, 1997. "Instrumental Variables: A Study of Implicit Behavioral Assumptions Used in Making Program Evaluations," Journal of Human Resources, University of Wisconsin Press, vol. 32(3), pages 441-462.
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