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Université de Fribourg

Bootstrapping a Hedonic Price Index: Experience from Used Cars Data

Beer, Michael

In: AStA Advances in Statistical Analysis, 2007, vol. 91, no. 1, p. 77-92

Every hedonic price index is an estimate of an unknown economic parameter. It depends, in practice, on one or more random samples of prices and characteristics of a certain good. Bootstrap resampling methods provide a tool for quantifying sampling errors. Following some general reflections on hedonic elementary price indices, this paper proposes a case-based, a model-based, and a wild bootstrap...

Université de Fribourg

The Econometric Foundations of Hedonic Elementary Price Indices

Brachinger, Hans Wolfgang ; Beer, Michael

Hedonic methods are currently considered state-of-the-art for handling quality changes when compiling consumer price indices. The present article proposes first a mathematical description of characteristics and of elementary aggregates. In a following step, a hedonic econometric model is formulated and hedonic elementary population indices are defined. These indices extend from simple indices...