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Hedonic Prices for a Nondurable Good: The Case of Breakfast Cereals
journal contribution
posted on 2021-11-15, 21:29 authored by L. R. Stanley, John T. TschirhartNumerous studies have estimated hedonic price functions for durable goods. In this paper we apply the methodology to breakfast cereals, a nondurable good. We employ maximum likelihood to estimate the hedonic price functions using data from three large supermarkets. The price function depends on characteristics that provide tastes, nutrition and convenience to consumers, and the estimates yield insights into pricing policies, consumer preferences and consumer use of information.
History
ISO
engLanguage
EnglishPublisher
University of Wyoming. LibrariesJournal title
Review of Economics and StatisticsCollection
Faculty Publications - EconomicsDepartment
- Library Sciences - LIBS