EFFICIENT ESTIMATION OF HEDONIC INVERSE INPUT DEMAND SYSTEMS

Dadi Kristofersson and Kyrre Rickertsen

No 21926, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The paper is concerned with efficient estimation of characteristics demand. We derive and estimate an inverse input demand system for quality characteristics by using 172,946 observations over 881 trading days in the Icelandic fish auctions. An improved estimation method based on an expanded random coefficient model is suggested as an alternative to the currently used two-stage method of Brown and Rosen (1982). The estimates demonstrate the improved efficiency of the suggested method. A number of empirical results emerge, including a general increase in the demand for quality.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 29
Date: 2003
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Efficient Estimation of Hedonic Inverse Input Demand Systems (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:21926

DOI: 10.22004/ag.econ.21926

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