Adjusting VCR prices for quality change: a study using hedonic methods.
A study used the hedonic method to quality-adjust video cassette recorder prices. Implicit price values for VCR characteristics were estimated, and these estimates were used to quality-adjust VCR price changes when a new VCR model replaces an older one in the Consumer Price Index (CPI) sample. The...
| Published in: | Monthly Labor Review Vol. 122; no. 9; pp. 22 - 38 |
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| Main Authors: | , |
| Format: | Article |
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US Department of Labor
September 1999
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=503667060&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 503667060 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00981818 MLR jtl: Monthly Labor Review issn: 00981818 maglogo: N pubinfo: dt: September 1999 vid: 122 iid: 9 pid: 1929 pub: US Department of Labor artinfo: ui: 503667060 ppf: 22 ppct: 16 formats: fmt: – @attributes: type: T – @attributes: type: P size: 970KB tig: atl: Adjusting VCR prices for quality change: a study using hedonic methods. aug: au: Liegey, Paul R. Shepler, Nicole su: Externalities Prices Consumer price indexes Video tape recorders sug: subj: Externalities Prices Consumer price indexes Video tape recorders keyword: Hedonic price theory ab: A study used the hedonic method to quality-adjust video cassette recorder prices. Implicit price values for VCR characteristics were estimated, and these estimates were used to quality-adjust VCR price changes when a new VCR model replaces an older one in the Consumer Price Index (CPI) sample. These adjusted VCR price changes were used to calculate a quality-adjusted price index, which is, ideally, free of quality change bias. The resulting index was then compared with the published CPI index to obtain an estimate of the quality change bias for VCRs. The study suggests that there may be no benefits from the use of hedonic quality-adjustment techniques to combat the problem of quality change when high-tech consumer items included in the CPI sample are replaced in the marketplace. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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