Panel Data Hedonics: Rosen's First Stage as a "Sufficient Statistic"
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Traditional cross-sectional estimates of hedonic price functions can recover marginal willingness to pay for characteristics, but face endogeneity problems for estimating non-marginal welfare measures. I show that when panel data on household demands are available, one can construct a second-order
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美国国家经济研究局创建时间：
2015-08-01
