You are not currently logged in.
Access JSTOR through your library or other institution:
If You Use a Screen ReaderThis content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Estimating the Structural Equations of Implicit Markets and Household Production Functions
The Review of Economics and Statistics
Vol. 66, No. 4 (Nov., 1984), pp. 673-677
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/1935993
Page Count: 5
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Preview not available
Whenever marginal prices are nonconstant, as in most hedonic and household production function markets, ordinary least squares estimates of the price elasticities of structural equations will be biased. A two-stage least squares estimation procedure is developed and applied to estimate hedonic (and potentially household production function) demand functions when price gradients are nonlinear.
The Review of Economics and Statistics © 1984 The MIT Press