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Definition: Hedonic means of or relating to utility. (Literally, pleasure-related.) A hedonic econometric model is one where the independent variables are related to quality; e.g. the quality of a product that one might buy or the quality of a job one might take.

A hedonic model of wages might correspond to the idea that there are compensating differentials -- that workers would get higher wages for jobs that were more unpleasant.

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