Simulation and Estimation of Hedonic Models

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dc.creator	Heckman, James Joseph
dc.creator	Matzkin, Rosa Liliana
dc.creator	Nesheim, Lars
dc.date	2003
dc.date.accessioned	2013-10-16T07:08:36Z
dc.date.available	2013-10-16T07:08:36Z
dc.date.issued	2013-10-16
dc.identifier	http://hdl.handle.net/10419/20086
dc.identifier	ppn:368833488
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/20086
dc.description	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).
dc.language	eng
dc.relation	IZA Discussion paper series 843
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject	C31
dc.subject	ddc:330
dc.subject	hedonic models
dc.subject	nonparametric methods
dc.subject	simulation
dc.subject	Monte Carlo
dc.subject	additive models
dc.subject	nonadditive models
dc.subject	Querschnittsanalyse
dc.subject	Ökonometrisches Modell
dc.subject	Hedonischer Preis
dc.subject	Nichtparametrisches Verfahren
dc.subject	Simulation
dc.subject	Schätztheorie
dc.subject	Theorie
dc.title	Simulation and Estimation of Hedonic Models
dc.type	doc-type:workingPaper