Comment on “Simulation and Estimation of Hedonic Models” by Heckman, Matzkin and Nesheim

Michael Keane ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper contains commentary on the chapter “Simulation and Estimation of Hedonic Models” by Heckman, Matzkin and Nesheim that appeared in the volume "Frontiers in Applied General Equilibrium Modeling," Kehoe, Srinivasan and Whalley (eds.), Cambridge University Press, 2005. I explain in simple terms the sources of identification in their model. I also argue for the importance of economic theory in empirical work in general, and criticize various attempts to do "theory-free" analysis.

Keywords: hedonic models; identification; Bayesian semi-parametrics, structural model; theory based empirical analysis; functional form assumptions; instrumental variables; mixture-of-normals; flexible parametric models (search for similar items in EconPapers)
JEL-codes: C14 (search for similar items in EconPapers)
Date: 2003-05
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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