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Hedonic Pricing Functions

Nesheim, L; (2008) Hedonic Pricing Functions. In: New Palgrave Dictionary of Economics, 2nd edition. Palgrave Macmillan: New York. Green open access

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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 > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/14677
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