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Consumer Demand with Unobservable Product Attributes - Part I: Theory

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Abstract

This 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.

Suggested Citation

  • John K. Dagsvik, 1996. "Consumer Demand with Unobservable Product Attributes - Part I: Theory," Discussion Papers 166, Statistics Norway, Research Department.
  • Handle: RePEc:ssb:dispap:166
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    File URL: http://www.ssb.no/a/publikasjoner/pdf/DP/dp_166.pdf
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    Cited by:

    1. Leif Brubakk & John K. Dagsvik, 1998. "Consumer Demand and Unobservable Product Attributes," Discussion Papers 223, Statistics Norway, Research Department.
    2. John K. Dagsvik & Leif Brubakk, 1998. "Price Indexes for Elementary Aggregates Derived from Behavioral Assumptions," Discussion Papers 234, Statistics Norway, Research Department.

    More about this item

    Keywords

    Price distribution; differentiated products; quality attributes; hedonic price indexes.;

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • 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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