A Quality-Adjusted Price Index for Personal Computers

Randy Nelson, Tim L Tanguay and Christopher D Patterson

Journal of Business & Economic Statistics, 1994, vol. 12, issue 1, 23-31

Abstract: This study estimates quality-adjusted price indexes for personal computers. Three separate hedonic models are estimated using data from 1,841 personal computers over the period 1984-91. In addition to the traditional linear model, a nonlinear model is developed and estimated. The nonlinear model is parsimonious in parameters, allows time-varying attribute prices, and can be estimated using a pooled data set. The results indicate that nominal quality-adjusted prices of mail-order firms declined at an average annual rate of 24.62 percent; quality-adjusted prices of major manufacturers declined at a slower rate.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:12:y:1994:i:1:p:23-31

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