Hedonic Prices for a Nondurable Good: The Case of Breakfast Cereals
运用特征价格方法，基于三家大型超市的数据，估计早餐麦片这种非耐用品的价格函数，揭示定价策略、消费者偏好和信息使用。
Numerous studies have estimated hedonic price functions for durable goods. In this paper we apply the methodology to breakfast cereals, a nondurable good. We employ maximum likelihood to estimate the hedonic price functions using data from three large supermarkets. The price function depends on characteristics that provide tastes, nutrition and convenience to consumers, and the estimates yield insights into pricing policies, consumer preferences and consumer use of information.