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Comparison of hedonic functions for PCs across EU countries

Comparison of hedonic functions for PCs across EU countries. Paul Konijn, Dietmar Moch and Jörgen Dalèn 54th ISI Session, 13-20 August 2003, Berlin. Use of hedonic methods in EU. Hedonic methods increasingly being used in Europe (UK, Germany; earlier France, Sweden)

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Comparison of hedonic functions for PCs across EU countries

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  1. Comparison of hedonic functions for PCs across EU countries Paul Konijn, Dietmar Moch and Jörgen Dalèn 54th ISI Session, 13-20 August 2003, Berlin

  2. Use of hedonic methods in EU • Hedonic methods increasingly being used in Europe (UK, Germany; earlier France, Sweden) • However difficult to compare, because of • Differences in methods • Different types of data sources

  3. Aim of this research • Investigate whether hedonic function is similar across countries • use same methods • use same data source • Investigate impact on index of various hedonic methods

  4. New results available • Paper distributed includes only three countries • In this presentation, I will show results for 8 countries for May 2000-March 2002

  5. Data • Data source: IDC (data from major vendors) • “Reseller buy price” • No. observations: 48512 (average: 263 per country/month); desktops only • Unevenly spread: Most observations from Germany, least from Netherlands • Few observations towards the end of the series • No data on sales volumes

  6. Methods • First, stepwise regression per country on whole period to determine significant variables • Box-Cox to establish functional from (log-log) • Then, monthly regressions per country using same specification of hedonic function • Used for various hedonic imputation methods • Also: time-dummy variable method, matched models (MCR)

  7. Average nominal prices (euro)

  8. Average clock speed (Mhz)

  9. “Goodness of fit” (R2)

  10. Clock speed coefficient

  11. Hedonic imputation indexes(partial imputation, single sided)

  12. Comparison of different methods

  13. Conclusion • Data problems prevent clear answer to the question of similarity of hedonic functions • However, in beginning of the period good results with same hedonic function for different countries • Hedonic function needs to be re-specified for the end of the period

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