Single market non-parametric identification of multi-attribute hedonic equilibrium models

Victor Chernozhukov, Alfred Galichon (), Marc Henry and Brendan Pass
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Alfred Galichon: Institute for Fiscal Studies and NYU
Brendan Pass: Institute for Fiscal Studies

No CWP27/19, CeMMAP working papers from Centre for Microdata Methods and Practice, Institute for Fiscal Studies

Abstract: This paper derives conditions under which preferences and technology are nonparametrically identi?ed in hedonic equilibrium models, where products are di?erentiated along more than one dimension and agents are characterized by several dimensions of unobserved heterogeneity. With products di?erentiated along a quality index and agents characterized by scalar unobserved heterogeneity, single crossing conditions on preferences and technology provide identifying restrictions. We develop similar shape restrictions in the multi-attribute case. These shape restrictions, which are based on optimal transport theory and generalized convexity, allow us to identify preferences for goods di?erentiated along multiple dimensions, from the observation of a single market. We thereby extend identi?cation results in Matzkin (2003) and Heckman, Matzkin, and Nesheim (2010) to accommodate multiple dimensions of unobserved heterogeneity. One of our results is a proof of absolute continuity of the distribution of endogenously traded qualities, which is of independent interest.

Date: 2019-06-11
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Related works:
Working Paper: Single Market Nonparametric Identification of Multi-Attribute Hedonic Equilibrium Models (2018)
Working Paper: Single Market Nonparametric Identification of Multi-Attribute Hedonic Equilibrium Models (2018)
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