It is common among those individuals in real estate, economics, and retail. You can use hedonic regression in hedonic pricing models. Also, the price of the item can be regressed on the unique characteristics to determine each of the characteristics of its price. In this publication, Rosen reasons that the total price of an item is the homogeneous attributes price. The theory of hedonic pricing was first presented in 1974 by Sherwin Rosen in his paper titled, Hedonic Pricing and Implicit Markets: Product Differentiation in Pure Competition, associated with the University of Harvard and Rochester University. Back to: RESEARCH, ANALYSIS, & DECISION SCIENCE How does a Hedonic Regression Work? Regression analysis is the one used to determine the factors that affect the product or real estate price. Hedonic regression refers to a revealed preference approach applied in consumer science and economics to determine the variables relative importance that affects the price of service or good. Update Table of Contents What is a Hedonic Regression? How does a Hedonic Regression Work? Hedonic Regression Basics Example Academic Research on Hedonic Regressions What is a Hedonic Regression?
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