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Office of Survey Methods Research
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Published Year: 2016
Survey/Program(s): Office of Prices and Living Conditions
Catalog: Economic Working Paper
WP Number: WP-490
Publication Status / Disposition: Office of Prices and Living Conditions (July 2016).
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On Incorrect Signs in Hedonic Regresion
Abstract
I compute the equilibrium in a model of a differentiated-product market to show that, even when all consumers in the market agree that more of each product characteristic is preferred to less, an OLS regression of market-clearing prices on product characteristics can yield negative coeffcients on the characteristics.