Nesheim, L;
(2008)
Hedonic Pricing Functions.
In:
New Palgrave Dictionary of Economics, 2nd edition.
Palgrave Macmillan: New York.
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Abstract
Hedonic price functions describe the equilibrium relationships between characteristics of products and their prices. They are used to predict prices of new goods, to adjust for quality change in price indexes, and to measure consumer and producer valuations of differentiated products. They emerge as market outcomes from both competitive and non-competitive markets. The functional form is determined by the distribution of buyers and their preferences, the distribution of sellers and their costs, and the structure of competition in the market.
| Type: | Book chapter |
|---|---|
| Title: | Hedonic Pricing Functions |
| Open access status: | An open access version is available from UCL Discovery |
| Keywords: | hedonic price function, nonlinear prices |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/14677 |
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