Innovation and price: the case of digital cameras

Autor:	Daniel C. Fehder, Jeffrey J. Trester, Edward Nelling
Rok vydání:	2009
Předmět:	Service (business) Macroeconomics Economics and Econometrics business.product_category business.industry Hedonic index Econometric analysis Product (business) Anticipation (artificial intelligence) Econometrics Economics The Internet Hedonic regression business Digital camera
Zdroj:	Applied Economics. 41:2229-2236
ISSN:	1466-4283 0003-6846
DOI:	10.1080/00036840701222488
Popis:	This study examines a hedonic regression model of digital camera prices using data collected from an internet price comparison service. We find that a small number of product characteristics explains most of the variation in camera prices. In addition, the model demonstrates substantial downward pressure on camera prices during the time period considered. We also examine technological innovation shocks to determine their impact on product prices. We find that the corresponding price reaction exhibits gradual adjustment over time, providing evidence of some degree of anticipation of the innovation, as well as a post-innovation price shock. This study also demonstrates the power of web-based shopping services as a new and novel source of data for econometric analysis.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::84fa930c63b968d7e549e586b32ce05d https://doi.org/10.1080/00036840701222488 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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