On Incorrect Signs in Hedonic Regresion

Timothy Erickson

No 490, Economic Working Papers from Bureau of Labor Statistics

Abstract: I compute the equilibrium in a model of a differentiated-product market to show that, even when all consumers in the market agree that more of each product characteristic is preferred to less, an OLS regression of market-clearing prices on product characteristics can yield negative coeffcients on the characteristics.

Date: 2016
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