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HEDONIC PRICE INDEXES AND MULTIPLE LISTING SERVICE AVERAGE PRICES FOR CANADIAN CENSUS METROPOLITAN AREAS 1990 TO 1993By Marion Steele Department of Economics, University of Guelph and Center for Urban
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01
Collect data on the attributes of the products being studied such as size, location, age, and quality.
02
Determine the prices of the products being studied.
03
Construct a regression model to estimate the relationship between the prices and attributes of the products.
04
Calculate the hedonic price index based on the coefficients obtained from the regression model.

Who needs hedonic price indexes and?

01
Economists use hedonic price indexes to analyze changes in the value of goods and services over time.
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Businesses can use hedonic price indexes to understand how changes in product attributes affect prices and demand.
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Government agencies may use hedonic price indexes to adjust prices for inflation and measure changes in the cost of living.
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Hedonic price indexes are used to measure changes in the quality of goods or services over time.
Businesses or individuals who want to track changes in the value of specific goods or services.
To fill out hedonic price indexes, you will need to collect data on the qualities of goods or services and their prices.
The purpose of hedonic price indexes is to provide a more accurate measure of changes in the value of goods or services.
Information such as the qualities of goods or services, their prices, and any changes in quality over time.
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