A Quality-Adjusted Price Index for Personal Computers
- 1 January 1994
- journal article
- research article
- Published by Taylor & Francis in Journal of Business & Economic Statistics
- Vol. 12 (1) , 23-31
- https://doi.org/10.1080/07350015.1994.10509988
Abstract
This study estimates quality-adjusted price indexes for personal computers. Three separate hedonic models are estimated using data from 1,841 personal computers over the period 1984–1991. In addition to the traditional linear model, a nonlinear model is developed and estimated. The nonlinear model is parsimonious in parameters, allows time-varying attribute prices, and can be estimated using a pooled data set. The results indicate that nominal quality-adjusted prices of mail-order firms declined at an average annual rate of 24.62%; quality-adjusted prices of major manufacturers declined at a slower rate.Keywords
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