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The relevance of hedonic price indices

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  • Olivier Chanel
  • Louis-André Gérard-Varet
  • Victor Ginsburgh

Abstract

We argue that for the case of heterogeneous commodities with infrequent tradings, such as paintings, it is relevant to base a price index on hedonic regressions using all sales and not resales only. To support this conclusion we construct a price index for paintings by Impressionists and their followers and compare the various estimators using bootstrapping techniques. Copyright Kluwer Academic Publishers 1996

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  • Olivier Chanel & Louis-André Gérard-Varet & Victor Ginsburgh, 1996. "The relevance of hedonic price indices," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 20(1), pages 1-24, March.
    • Handle: RePEc:kap:jculte:v:20:y:1996:i:1:p:1-24
    DOI: 10.1007/s10824-005-1024-3
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    References listed on IDEAS

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