Hedonic

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.

Terms related to Hedonic:

• Exponential Utility Function
• CES Utility
• Expected Utility

About.Com Resources on Hedonic:

• What is Econometrics?
• How to Do a Painless Econometrics Project
• How to Do a Painless Multivariate Econometrics Project

Writing a Term Paper? Here are a few starting points for research on Hedonic:

Journal Articles on Hedonic:

• Hedonic housing prices and the demand for clean air
• Specification and estimation of hedonic housing price models
• Choice of functional form for hedonic price equations