Social and Behavioral Sciences Commons^™

Theoretical And Practical Implications Of A Hedonic Pricing Model: Empirical Observations From Wholesale Automobile Auctions, Jeffrey Roach

All Dissertations

Wholesale auto auctions are convenient structures for economists as they attempt to observe the marginal effects of quality changes on the market-clearing price. However, what may be categorized as a quality change might rather be a market signal of an environment with adverse selection. This dissertation analyzes the effects of seller type and tests their sensitivity to econometric model specification.
General hedonic attributes and their various applications are reviewed. This dissertation explores the basic auto auction environment and dispels inaccurate notions about the auction structure. Following Bartik's (1987) analysis, multi-market data are used to produce hedonic estimates for seller, mileage …