Hedonic model

{
  "id": "MLC-T-ECS-000870",
  "term": "Hedonic model",
  "field": "Economic statistics",
  "definition": "Regression model designed to isolate and measure the influence on price of economically meaningful product characteristics.\n\nNote: For instance, a computer can be disaggregated into characteristics such as speed of processor, hard drive capacity, amount of memory, and many other defining features that influence the computer’s price. These product characteristics enter a regression as independent (explanatory) variables, and the product’s selling price is entered as the dependent variable. The independent (explanatory) variables are “regressed” against the dependent variable, yielding implicit prices (regression coefficients) for each of the independent variables.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/hedonic-model/"
}