Symposium on Hedonic Methods in Industrial Economics Exact Hedonic Price Indexes
利用特征的边际价值，展示了如何构建精确享乐价格指数的边界。当价格高于边际成本时，边界仍然适用，但特征价值无法通过享乐回归轻松测量，因为价格成本加成作为遗漏变量会偏误系数。对于一类特殊效用函数，线性回归仍能测量特征边际价值，而对数线性回归会高估这些值。
Using the marginal value of characteristics, we show how to construct bounds on the exact hedonic price index. When prices are above marginal costs then our bounds still apply, but the value of characteristics cannot be measured so easily from a hedonic regression. Since the price--cost markups are an omitted variable, they will bias the coefficients obtained. For a special class of utility functions, we argue that a linear regression will still provide a measure of the marginal value of characteristics, but a log-linear regression will overstate these values.