Skip to main content

Hedonic prices, goods-specific effects and functional form: inferences from cross-section time series data

Buy Article:

$55.00 plus tax (Refund Policy)


Tests for two key elements of the hedonic model of price determination for differentiated goods are proposed when cross-sectional, time series data are available. First, the hedonic hypothesis, that price is determined by sellers' and buyers' valuations of characteristics bundled in a good, is tested against the alternative that consumers demand specific goods. The sensitivity of the outcome of the test to unmeasured characteristics, serial correlation or heteroscedasticity, and misspecification of functional form is assessed. Second, a novel approach to testing functional form illustrates limitations of testing hedonic specifications only against alternatives nested in the Box-Cox functional form.

Document Type: Research Article


Publication date: 1997-02-01

More about this publication?
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more