This paper conducts an empirical analysis on the U.S. VCR market using a hedonic approach. The paper finds that quality-adjusted price indexes decline at 11-12% per year, with a large annual drop of about 18% from 1982-85. Estimation and data analysis reveal interesting aspects of the evolution of quality and price in the VCR market. Finally the paper estimates a bias of 3.2% per year in the BL...

ONOMICS/FINANCE International Encyclopedia of Housing and Home, 2012, V Foreclosure The legal process by which an owner’s right to a property is terminated, usually due to default. Hedonic regression A method of estimating demand or value. It decomposes the price of a good or service into its constituent characteristics and obtains estimates of the contributory value of each characteristic. Sub...

Neighborhood quality is an important attribute of housing yet its value is rarely known to researchers. We argue that changes in nearby foreclosures reveal changes in neighborhood quality. Thus estimates of the hedonic price of nearby foreclosures provide a glimpse of values that people hold for local neighborhood quality. The empirical models include controls for both spatial dependence in hou...

In this paper, I first estimate hedonic price equations for computer spreadsheet programs, and then use the analysis to empirically test whether network externalities exist in this industry. The study shows that consumers are willing to pay a significant premium for spreadsheets that are compatible with the Lotus platform and for spreadsheets that offer links to external data bases, and a small...

The valuation of Canadian paintings is analyzed empirically. Using a sample of auction prices for major Canadian painters for the period 19682001, we run hedonic regressions to analyze the in‡uence of various factors, including painter identity, on auction prices, as well as to construct a market price index. This index is used in a second stage analysis in which we analyze the properties of Ca...

We investigate price finding of buyers and sellers of Internet domains. We develop a hedonic model for domain prices, controlling for differences in domain quality along multiple dimensions and test the model empirically on a large dataset of domain transactions observed at secondary domain markets. We document differences in the implicit prices for selected domain attributes across different t...

Historically, water allocation focused on quantities demanded by consumptive uses. As quantity demand grows, efficient allocation among consumptive and nonconsumptive uses becomes more critical. This hedonic approach provides information regarding recreational and aesthetic (RA) value for a central Texas lake. The model indicates several statistically significant RA characteristics of housing; ...