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 language | English |
|---|---|
| Pages (from-to) | 59-80 |
| Journal | Netherlands journal of housing and the built environment |
| Volume | 7 |
| Publication status | Published - 1992 |
Keywords
- economics
- netherlands
- housing market