What consumers pay for in a VCR
November 24, 1999
A major consumers’ magazine reported on 26 characteristics of VCRs in their 1998 buyers’ guide. Of those characteristics, a BLS study found that consumers paid the most for the more sophisticated video platforms: Multi-format converters that can play more than one tape format, dual-deck VCRs, and S-VHS players that produce superior resolution.
Among other price determining characteristics, up-scale brand names and the latest cutting edge features had the most impact. The feature with the largest price tag provides on-screen TV listings with one-touch VCR programming. Other features with a strong impact on price include "flying head" edit features and "index plus."
A separate analysis shows that the number of features alone has a significant impact on the price of a VCR: Those VCRs that are "fully loaded" are generally more expensive no matter what type they are.
These findings were part of a study of quality adjustment techniques for the Consumer Price Index program. The technique used to estimate implicit prices for videocassette recorder characteristics is called hedonic regression. For more information see "Adjusting VCR prices for quality changes: a study using hedonic methods," by Paul R. Liegey and Nicole Shepler, Monthly Labor Review, September 1999.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, What consumers pay for in a VCR on the Internet at https://www.bls.gov/opub/ted/1999/nov/wk4/art03.htm (visited January 18, 2017).
Recent editions of Spotlight on Statistics
Workplace injuries and illnesses and employer costs for workers’ compensation
Workplace injury and illness data and the costs to employers for workers’ compensation in natural resources, construction, and maintenance occupations.
A look at the future of the U.S. labor force to 2060
Projected long-term trends in the growth, size, and composition of the labor force.
Union membership in the United States
Historical trends in union membership among employed wage and salary workers; union membership by a variety of demographic characteristics.
A look at healthcare spending, employment, pay, benefits, and prices
Spending on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Self-employment in the United States
Trends in self-employment by various demographic and socioeconomic characteristics, including both the unincorporated and the incorporated self-employed, as well as data on paid employees who work for the self-employed.