The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Sep, 1979, Volume 47, Issue 5
https://doi.org/0012-9682(197909)47:5<1151:AEOASH>2.0.CO;2-I
p. 1151-1174
Ann D. Witte, Homer Erekson, Howard J. Sumka
A simultaneous equations model of bid and offer functions for housing attributes(dwelling quality, dwelling size, and lot size) is estimated in order to accountfor the heterogeneity of the housing good. Estimation of a traditional, nonlinear hedonic price equation in the first stage provides a basis for calculating implicit prices for housing attributes which are used in the second stage simultaneous equations model. Empirical results confirm the theoretically expected negative coefficient for each attribute in its own bid function and theexpected positive or zero coefficient for each attribute in its own offer function. Cross price relationships reveal a general pattern of complementarity in consumption of housing attributes.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
