Hedonic analysis of automobile characteristics

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An automobile maker is interested in the marginal WTP by consumers for fuel economy in the cars the manufacturer produces. The automobile maker has asked you to conduct a hedonic analysis of automobile characteristics. Describe how you would carry out the analysis, being sure to discuss (a) which characteristics of cars you would measure, (b) how you would measure the hedonic price function, and (c) how you would translate this into a marginal WTP function.

Reference no: EM131165677

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