The inclusion of spatial correlation of house price in hedonic pricing model may produce better marginal implicit price estimate(s) of the environmental variable(s) of interest. Most applications where a spatial econometric model is applied to the estimation of a hedonic property value model have used either a spatial lag model or a spatial autoregressive (SAR) error model. Incorrect spatial sp...

Rapid price decreases for ICT-products in the 1990s have been largely attributed to the introduction of hedonic price indexes. Would hedonic price indexing also have large effects on measured price and productivity during earlier technological breakthroughs? This paper investigates the impact of hedonic and matched model methods on historical data for electric motors in Sweden 1900–35. The resu...

Hedonic analysis is gaining acceptance as a tool for quality adjustment in goods and services in official statistics and academic research. Computers and houses are by far the two most popular products for which much of the hedonic research been concentrated on. Few comparative studies have, however, looked at the sensitivity of the price indexes that are obtained when different regression appr...

Sub-market definition has been identified as an important step in hedonic price analysis, to improve price predictions as well as estimates of marginal prices. Early market segmentation procedures were based on various definitions of housing or neighbourhood type. With the advent of new technologies (e.g. GIS), and statistical techniques (e.g. spatial models, clustering techniques), more sophis...

While the CPI may have overstated inflation in the mid-1990s by about one percent per year, as concluded by the Boskin Commission, it does not make sense to extrapolate that rate of bias backwards over long periods of time. The "Hulten-Bruegel paradox" shows that any such exercise in backward extrapolation yields levels of real consumption two or four centuries ago that are implausibly low, bar...

Suppose two Matisse paintings with identical characteristics were put up for sale. However, one of the paintings had previously been sold in a “hot” market for a high price and the other had been sold in a “cold” market for a low price. Would the painting that previously sold in the “hot” market fetch a higher price at auction? Anchoring is one of the most powerful and well-established biases i...

the study investigates consumers’ preference for cowpea reflected in the nigerian markets through price discounts and premiums that consumers pay for different cowpea characteristics. the price data used for this study were obtained through a market survey. a common data collection protocol was employed. every month, between october 2009 to december 2010, five cowpea samples per seller were bou...