Abstract

http://ssrn.com/abstract=2392549
 


 



Identifying Multi-Attribute Hedonic Models


Victor Chernozhukov


Massachusetts Institute of Technology (MIT) - Department of Economics; New Economic School

Alfred Galichon


Sciences Po - Department of Economics

Marc Henry


Pennsylvania State University

May 21, 2014


Abstract:     
This paper derives conditions under which preferences and technology are nonparametrically identified in hedonic equilibrium models, where products are differentiated along more than one dimension and agents are characterized by several dimensions of unobserved heterogeneity. With products differentiated along a quality index and agents characterized by scalar unobserved heterogeneity, single crossing conditions on preferences and technology provide identifying restrictions. We develop similar shape restrictions in the multi-attribute case and we provide identification results from the observation of a single market. We thereby extend identification results in Matzkin (2003) and Heckman, Matzkin, and Nesheim (2010) to accommodate multiple dimensions of unobserved heterogeneity.

Number of Pages in PDF File: 23

Keywords: Hedonic equilibrium, nonparametric identification, multidimensional unobserved heterogeneity, optimal transport

JEL Classification: C14, C61, C78

working papers series





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Date posted: February 9, 2014 ; Last revised: May 22, 2014

Suggested Citation

Chernozhukov, Victor and Galichon, Alfred and Henry, Marc, Identifying Multi-Attribute Hedonic Models (May 21, 2014). Available at SSRN: http://ssrn.com/abstract=2392549 or http://dx.doi.org/10.2139/ssrn.2392549

Contact Information

Victor Chernozhukov
Massachusetts Institute of Technology (MIT) - Department of Economics ( email )
50 Memorial Drive
Room E52-262f
Cambridge, MA 02142
United States
617-253-4767 (Phone)
617-253-1330 (Fax)
HOME PAGE: http://www.mit.edu/~vchern/
New Economic School
47 Nakhimovsky Prospekt
Moscow, 117418
Russia
Alfred Galichon
Sciences Po - Department of Economics ( email )
27 rue Saint-Guillaume
Paris Cedex 07, 75337
France
Marc Henry (Contact Author)
Pennsylvania State University ( email )
University Park
State College, PA 16802
United States
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