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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (56502)3/22/2006 11:47:20 PM
From: regli  Read Replies (1) of 110194
 
I am questioning what hedonics is really trying to address. Is the objective to measure utility or productivity? If it is then in the case of a car, don't we also have to consider the state of roads, i.e. congestion? Obviously a car's utility despite its latest snazzy features is greatly impaired in stop and go traffic.

Without a clear and stated objective that can be reasonably measured, it is obvious to me that hedonics and substitution will be severely abused.
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