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Autoren: 
Rohlfs, Chris
Sullivan, Ryan
Kniesner, Thomas J.
Datum: 
2013
Reihe/Nr.: 
IZA Discussion Papers 7554
Zusammenfassung: 
This paper develops a generalized hedonic model in which an exogenous shock to a single product attribute can affect other attributes, the markets for the product's complements and substitutes, and aggregate quantity produced. These factors are shown to be empirically relevant and to cause bias in traditional approaches. Experimental and quasi-experimental estimators of attribute demand are introduced that address these biases, are transparent, and are straightforward to implement. One of these estimators is applied to measure the marginal military recruit's valuation of educational benefits, which is found to range across packages from -$0.024 to +$0.467 per dollar of benefits.
Schlagwörter: 
hedonic
discrete choice
identification
experiment
quasi-experiment
marginal willingness to pay
attribute demand
amenity
heterogeneous goods
generalized
endogenous attributes
complement
substitute
JEL: 
D12
C35
C31
D61
C9
Dokumentart: 
Working Paper

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