Eintrag weiter verarbeiten
Buchumschlag von Measuring Product Prices Under Conditions of Quality Change: The Case of Passenger Cars in Greece
Verfügbar über Online-Ressource

Measuring Product Prices Under Conditions of Quality Change: The Case of Passenger Cars in Greece

Gespeichert in:

Bibliographische Detailangaben
Zeitschriftentitel: The Journal of Industrial Economics
Personen und Körperschaften: Bitros, George C., Panas, Epaminondas E.
In: The Journal of Industrial Economics, 37, 1988, 2, S. 167-186
Medientyp: E-Article
Sprache: Englisch
veröffentlicht:
Basil Blackwell
Details
Zusammenfassung: <p>We obtain the envelope curve of the bid functions for passenger car characteristics in Greece and use it to analyze the relationship between nominal and quality adjusted car prices over the 1965-1985 period. For its identification and estimation without imposing a priori restrictions we apply single- and multi-market approaches of the Box-Cox flexible functional form estimating technique in a modified version of Rosen's hedonic price model. On the empirical plane, the results show that (a) the quality adjusted prices of cars imported from Germany, France, Italy and Japan declined from 1965 to 1970 and increased continuously thereafter; (b) the quality of cars from France and Italy, and to a lesser extent from Japan, responded favourably following the two oil shocks, and (c) low priced cars offer more quality for the money.</p>
Umfang: 167-186
ISSN: 0022-1821
1467-6451