Download or read book Sampling Frequency and the Comparison Between Conformable Matched Model and Hedonic Regression Price Indexes written by George Deltas and published by . This book was released on 1999 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Product Differentiation and Quality Measurement written by Gian Maria Tomat and published by . This book was released on 2005 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hedonic Price Indexes and the Matched Models Approach written by Mick Silver and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider three approaches to estimating quality-adjusted price changes: (i) the dummy variable approach from a hedonic regression, (ii) a superlative or exact hedonic index and (iii) a matching technique - a technique akin to that used by statistical offices. The dummy variable approach is prevalent in the literature and has been used for independent estimates of quality changes when commenting on sources of error in consumer price indexes. However, the availability of scanner data provides an opportunity to utilize data on the prices (unit values), volumes and quality characteristics of a much wider range of transactions and to consider methods less restrictive than the dummy variable approach. The practical use of superlative or exact hedonic index and matching techniques using scanner data is explored, and the results from all three methods are compared. A feature of the paper is the breadth of the empirical work. It not only encompasses three different approaches, but extends across four different types of consumer durables. The manner in which the three approaches relate to each other is explored and the implications for quality-adjusted price changes is discussed.
Download or read book Direct and Indirect Time Dummy Approaches to Hedonic Price Measurement written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Quality-adjusted price indexes are frequently obtained by estimating how much of the price difference between a disappearing item and its replacement is due to a quality difference. Hedonic regression has become a popular quality-adjustment method among statistical agencies. The use of the time dummy method is still very limited, though. This paper has two aims. First, it shows how this method fits into the matched-model methodology of agencies applying a geometric mean index formula at the elementary aggregation level. Second, the paper argues that the ordinary or 'direct' time dummy approach cannot cope with systematic price effects of new and disappearing products. Several 'indirect' alternatives are discussed in which the time dummy coefficient serves as a common adjustment factor and in which systematic effects of unmatched products are explicitly taken into account. Special attention is paid to the role of the sampling design, in particular to product sampling proportional to expenditure. Key words: Consumer price index ; Hedonic regression ; Quality adjustment ; Sampling.
Download or read book The Application of Hedonic Methods in Quality Adjusted Price Indices written by Anna Król and published by Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu. This book was released on 2020-06-01 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: The measurement of price dynamics is by no means new endeavourin the official statistics but the process of establishing accurate price changes in time still remains challenging in many areas. One such demanding field is the application of appropriate techniques in price index development for providing amendments reflecting quality differences which might occur in the compared commodities. The book presents results of research on the applicability of hedonic methods in adjusting price indices to changes in the goods quality and test the techniques used for hedonic price indices construction using the data sets for various groups of heterogeneous goods, including used automobiles, appartments, household appliances and ICT goods.
Download or read book The Theory of Hedonic Quality Measurement and Its Use in Price Indexes written by Jack E. Triplett and published by . This book was released on 1971 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Reconsideration of Hedonic Price Indexes with an Application to PC s written by Ariel Pakes and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book When Do Matched Model and Hedonic Techniques Yield Similar Measures written by Ana M. Aizcorbe and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedonic techniques were developed to control for quality differences across goods and over time in order to construct constant-quality aggregate price measures. When the available data are a panel of high-frequency data on models whose characteristics are constant over time, matched-model price indexes can also be used to obtain constant quality price measures. We show this by demonstrating that, given data of this type, certain matched-model indexes yield price measures that are numerically close to those obtained using hedonic techniques. This paper is a condensed version of a paper that was presented at the CRIW workshop on Price Measurement at the NBER Summer Institute, July 31-August 1, 2000 and is available at the NBER website.
Download or read book An Almost Ideal Hedonic Price Index for Televisions written by and published by . This book was released on 2003 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The time dummy approach, where the hedonic model is estimated by (a certain type of) weighted least squares regression, implicitly leads to a generalised Törnqvist price index. We present a decomposition of this almost ideal index and investigate when it reduces to the matched-model Törnqvist index. The analysis is illustrated using scanner data for televisions during the period 1999-2001. The matched-model price index appears to approximate the generalised version quite well. Keywords: Consumer price index ; Hedonic regression ; Scanner data.
Download or read book A Reconsideration of Hedonic Price Indices with an Application to PC s written by Ariel Pakes and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper provides a justification for hedonic price indices and details the properties of hedonic price functions. The analysis is done in a market setting in which a finite number of goods, each defined by its characteristics, interact. We note that proper hedonic indices can be constructed from the same data currently used to construct matched model indices. Since the matched model index does not incorporate price changes for goods which exit, and the goods that exited tend to be those goods whose prices fall, the matched model index has a selection problem which biases it upwards. The hedonic index does not have this problem. We illustrate with a new study of price indices for PC's. The hedonic index shows steep price declines in every year. On average, the matched model indices indicate no price fall at all and one commonly used matched model index is negatively correlated with the hedonic. We also construct and compare alternative price indices used either in research or by the federal statistical agencies. Of these the one that seems to work well is a Pasche style hedonic. Its advantage is that since it does not require computation of the current period's hedonic function, it is easier to use when monthly timetables need to be met"--National Bureau of Economic Research web site
Download or read book Measuring the Real Size of the World s Economy written by World Bank and published by World Bank Publications. This book was released on 2013 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This work is a product of the staff of The World Bank with external contributions"--T.p. verso.
Download or read book Applied Econometrics with R written by Christian Kleiber and published by Springer Science & Business Media. This book was released on 2008-12-10 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: R is a language and environment for data analysis and graphics. It may be considered an implementation of S, an award-winning language initially - veloped at Bell Laboratories since the late 1970s. The R project was initiated by Robert Gentleman and Ross Ihaka at the University of Auckland, New Zealand, in the early 1990s, and has been developed by an international team since mid-1997. Historically, econometricians have favored other computing environments, some of which have fallen by the wayside, and also a variety of packages with canned routines. We believe that R has great potential in econometrics, both for research and for teaching. There are at least three reasons for this: (1) R is mostly platform independent and runs on Microsoft Windows, the Mac family of operating systems, and various ?avors of Unix/Linux, and also on some more exotic platforms. (2) R is free software that can be downloaded and installed at no cost from a family of mirror sites around the globe, the Comprehensive R Archive Network (CRAN); hence students can easily install it on their own machines. (3) R is open-source software, so that the full source code is available and can be inspected to understand what it really does, learn from it, and modify and extend it. We also like to think that platform independence and the open-source philosophy make R an ideal environment for reproducible econometric research.
Download or read book Quality Quantity and Spatial Variation of Price written by Angus Deaton and published by . This book was released on 1988 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Environmental Markets written by Terry L. Anderson and published by Cambridge University Press. This book was released on 2014-05-12 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental Markets explains the prospects of using markets to improve environmental quality and resource conservation. No other book focuses on a property rights approach using environmental markets to solve environmental problems. This book compares standard approaches to these problems using governmental management, regulation, taxation, and subsidization with a market-based property rights approach. This approach is applied to land, water, wildlife, fisheries, and air and is compared to governmental solutions. The book concludes by discussing tougher environmental problems such as ocean fisheries and the global atmosphere, emphasizing that neither governmental nor market solutions are a panacea.
Download or read book New Perspectives in Partial Least Squares and Related Methods written by Herve Abdi and published by Springer Science & Business Media. This book was released on 2013-10-17 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Perspectives in Partial Least Squares and Related Methods shares original, peer-reviewed research from presentations during the 2012 partial least squares methods meeting (PLS 2012). This was the 7th meeting in the series of PLS conferences and the first to take place in the USA. PLS is an abbreviation for Partial Least Squares and is also sometimes expanded as projection to latent structures. This is an approach for modeling relations between data matrices of different types of variables measured on the same set of objects. The twenty-two papers in this volume, which include three invited contributions from our keynote speakers, provide a comprehensive overview of the current state of the most advanced research related to PLS and related methods. Prominent scientists from around the world took part in PLS 2012 and their contributions covered the multiple dimensions of the partial least squares-based methods. These exciting theoretical developments ranged from partial least squares regression and correlation, component based path modeling to regularized regression and subspace visualization. In following the tradition of the six previous PLS meetings, these contributions also included a large variety of PLS approaches such as PLS metamodels, variable selection, sparse PLS regression, distance based PLS, significance vs. reliability, and non-linear PLS. Finally, these contributions applied PLS methods to data originating from the traditional econometric/economic data to genomics data, brain images, information systems, epidemiology, and chemical spectroscopy. Such a broad and comprehensive volume will also encourage new uses of PLS models in work by researchers and students in many fields.
Download or read book Introductory Econometrics for Finance written by Chris Brooks and published by Cambridge University Press. This book was released on 2008-05-22 with total page 752 pages. Available in PDF, EPUB and Kindle. Book excerpt: This best-selling textbook addresses the need for an introduction to econometrics specifically written for finance students. Key features: • Thoroughly revised and updated, including two new chapters on panel data and limited dependent variable models • Problem-solving approach assumes no prior knowledge of econometrics emphasising intuition rather than formulae, giving students the skills and confidence to estimate and interpret models • Detailed examples and case studies from finance show students how techniques are applied in real research • Sample instructions and output from the popular computer package EViews enable students to implement models themselves and understand how to interpret results • Gives advice on planning and executing a project in empirical finance, preparing students for using econometrics in practice • Covers important modern topics such as time-series forecasting, volatility modelling, switching models and simulation methods • Thoroughly class-tested in leading finance schools. Bundle with EViews student version 6 available. Please contact us for more details.
Download or read book Handbook of Behavioral Economics Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 749 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. - Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics - Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics - Written for those who wish to become quickly acquainted with behavioral economics
