The hedonic price function as an envelope of bid-functions.

J. Rouwendal

    Research output: Contribution to journalArticleAcademicpeer-review

    4 Citations (Scopus)

    Abstract

    An alternative to Rosen's two-stage approach to the analysis of markets for differentiated products is outlined and applied to Dutch data. The procedure proposed here models the hedonic price function directly as the envelope of a set of bid functions. Preliminary empirical results suggest that estimates of (at least) comparable reliability can be obtained in this way. The main advantage of the approach is that it circumvents the second stage of Rosen's approach and the econometric problems associated with it
    Original languageEnglish
    Pages (from-to)59-80
    JournalNetherlands journal of housing and the built environment
    Volume7
    Publication statusPublished - 1992

    Keywords

    • economics
    • netherlands
    • housing market

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