Journal article
Innovation and price: the case of digital cameras
Applied economics, v 41(17), pp 2229-2236
01 Jul 2009
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This study examines a hedonic regression model of digital camera prices using data collected from an internet price comparison service. We find that a small number of product characteristics explains most of the variation in camera prices. In addition, the model demonstrates substantial downward pressure on camera prices during the time period considered. We also examine technological innovation shocks to determine their impact on product prices. We find that the corresponding price reaction exhibits gradual adjustment over time, providing evidence of some degree of anticipation of the innovation, as well as a post-innovation price shock. This study also demonstrates the power of web-based shopping services as a new and novel source of data for econometric analysis.
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Details
- Title
- Innovation and price: the case of digital cameras
- Creators
- Daniel C. Fehder - PriceSCAN.com, 7 Great Valley Parkway , Suite 140 Malvern, PA 19355Edward Nelling - Drexel UniversityJeffrey J. Trester - PriceSCAN.com, 7 Great Valley Parkway , Suite 140 Malvern, PA 19355
- Publication Details
- Applied economics, v 41(17), pp 2229-2236
- Publisher
- Routledge
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Web of Science ID
- WOS:000267973200011
- Scopus ID
- 2-s2.0-78649689000
- Other Identifier
- 991019168460404721
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- Web of Science research areas
- Economics