Nonparametric Estimation and Nonadditive Hedonic Models
James Heckman and
No 51, Working Papers from Universidad de San Andres, Departamento de Economia
We present methods to estimate marginal utility and marginal product functions that are nonadditive in the unobservable random terms, using observations from a single hedonic equilibrium market. We show that nonadditive marginal utility and nonadditive marginal product functions are capable of generating equilibria that exhibit bunching, as well as other types of equilibria. We provide conditions under which these types of utility and production functions are nonparametrically identified, and we propose nonparametric estimators for them. The estimators are shown to be consistent and asymptotically normal.
Keywords: nonparametric; nonadditive; hedonic models (search for similar items in EconPapers)
Date: 2002-06, Revised 2002-06
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ftp://webacademicos.udesa.edu.ar/pub/econ/doc51.pdf First version, 2002 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:sad:wpaper:51
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