PANEL DATA HEDONICS: ROSEN'S FIRST STAGE AS A “SUFFICIENT STATISTIC”
证明，当有家庭需求的面板数据时，仅用第一阶段边际价格就能构造非边际福利测度的二阶近似，并讨论了在重复截面数据下如何识别或设定边界。
Abstract Traditional cross‐sectional estimates of hedonic price functions can recover marginal willingness to pay for characteristics, but face endogeneity problems for estimating nonmarginal welfare measures. This article shows that when panel data on household demands are available, one can construct a second‐order approximation to nonmarginal welfare measures using only the first‐stage marginal prices. With repeated cross sections of product prices, the measure can be set identified or, under a single‐crossing restriction, point identified. Bounds also can be constructed when there are mobility costs. Finally, a variant remains valid when individual preferences shift over time.