A Hedonic Metric Approach to Estimating the Demand for Differentiated Products: An Application to Retail Milk Demand

Osman Gulseven and Michael Wohlgenant

Papers from arXiv.org

Abstract: This article introduces the Hedonic Metric (HM) approach as an original method to model the demand for differentiated products. Using this approach, initially, we create an n-dimensional hedonic space based on the characteristic information available to consumers. Next, we allocate products into this space and estimate the elasticities using distances. Our model makes it possible to estimate a large number of differentiated products in a single demand system. We applied our model to estimate the retail demand for fluid milk products.

Date: 2020-03
New Economics Papers: this item is included in nep-com
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http://arxiv.org/pdf/2003.07197 Latest version (application/pdf)

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Working Paper: A Hedonic Metric Approach to Estimating the Demand for Differentiated Products: An Application to Retail Milk Demand (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2003.07197

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