What is the Hedonic Pricing Method? | Implicit Pricing Method | Housing example

This video introduces concept of Hedonic Pricing Method. A.k.a ? | Implicit Pricing Method. This method overcomes the omitted variable problem and self selection bias. Housing example is used. It considers attributes like Level of Scenic View, Size of the Lot, Distance from Central Business District and Characteristics of Neighborhood. The limitations of this method are also explained.

• My focus is on ‘Economic Interpretation’ so you understand ‘Economic Meaning’ which will enable you for ‘Economic Applications’ .
• At the end you’ll get the summary of key-points of the topic.
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#DBM #HedonicPrice #ImplicitPrice #Regression #HousingPrice #HedonicPriceFunction #CostBenefitAnalysis #drbilalmehmood #economics #selfselection #omittedvariable #multicollinearity

Regards, DBM,
Email: [email protected]