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Title:Simulation and Estimation of Hedonic Models PDF Logo
Authors:Heckman, James Joseph
Matzkin, Rosa Liliana
Nesheim, Lars
Issue Date:2003
Series/Report no.:IZA Discussion paper series 843
Abstract:Making use of restrictions imposed by equilibrium, theoretical progress has been made on the nonparametric and semiparametric estimation and identification of scalar additive hedonic models (Ekeland, Heckman, and Nesheim, 2002) and scalar nonadditive hedonic models (Heckman, Matzkin, and Nesheim, 2002). However, little is known about the practical aspects of estimating such models or of the characteristics of equilibrium in such models. This paper presents computational and analytical results that fill some of these gaps. We simulate and estimate examples of equilibrium in the additive hedonic models and provide evidence on the performance of several estimation techniques. We also simulate examples of equilibria in nonadditive models and provide evidence on the performance of the nonadditive estimation techniques developed in Heckman, Matzkin, and Nesheim (2002).
Subjects:hedonic models
nonparametric methods
simulation
Monte Carlo
additive models
nonadditive models
JEL:C31
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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