- Date and Time
- 25th Jul 2012 09:00 – 25th Jul 2012 18:00
- Stirling University, Cottrell Building
The Scottish Graduate School of Social Science welcomes postgraduate research students to the following advanced training event, organised by the Economics pathway/SIRE.
This training event is hosted by Professor Chris Timmins, Duke University, a leading expert in hedonic valuation methods. Professor Timmins has published recently in many leading journals including AEJ; EJ; JEEM; AER; Econometrica.
The purpose of this mini-course is to provide a graduate-level overview of hedonic analysis. Hedonics are the primary revealed-preference tool for non-market valuation and cost-benefit analysis, and also play an important role in quality adjustment of price indices, and in modelling demand for differentiated products and their attributes. The course will begin with a brief discussion of Rosen's (1974) seminal paper and basic identification issues. It will proceed with a discussion of the econometric problems associated with the recovery of the "willingness to pay function", which is required for the valuation of non-marginal changes in amenities or product attributes. We will then proceed to a discussion of omitted variables bias, and the quasi-experimental techniques that are used to address them. The fourth part of the course will describe hedonic analysis when individuals sort over multiple (labour and housing) markets. The fifth component will describe three areas of current research in hedonics. The mini-course will then conclude with a short discussion of some of the weaknesses of the hedonic approach, motivating the use of structural sorting models.
This full-day course will provide high quality training to Scottish PhD students working on non-market valuation and cost-benefit analysis. This will include students working on urban economics, public economics and environmental economics but we hope students from any area of Economics would consider it useful to gain training in these advanced methods.
A reading list will be provided prior to the course. Basic skills in econometrics are required.
Please send a request to Lennie Jing by 20 July 2012 to register for the event.
Please contact Stephan Heblich at Stirling University.
Last updated 6 Nov 2012 12:39pm