<?xml version='1.0' encoding='UTF-8'?><xml><records><record><source-app name="HighWire" version="7.x">Drupal-HighWire</source-app><ref-type name="Journal Article">17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Huang, Ju-Chin</style></author><author><style face="normal" font="default" size="100%">Zhao, Min Qiang</style></author></authors><secondary-authors></secondary-authors></contributors><titles><title><style face="normal" font="default" size="100%">A Hedonic Price Model to Recover Marginal Willingness to Pay for Product Attributes in the Presence of Market Power</style></title><secondary-title><style face="normal" font="default" size="100%">Land Economics</style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">2025</style></year><pub-dates><date><style  face="normal" font="default" size="100%">2025-03-07 06:47:19</style></date></pub-dates></dates><elocation-id><style  face="normal" font="default" size="100%">051124-0042R</style></elocation-id><doi><style  face="normal" font="default" size="100%">10.3368/le.101.3.051124-0042R</style></doi><volume><style face="normal" font="default" size="100%"></style></volume><issue><style face="normal" font="default" size="100%"></style></issue><abstract><style  face="normal" font="default" size="100%">This study employs a hedonic price framework to estimate consumers’ marginal willingness to pay for product attributes in imperfectly competitive markets. Our approach allows for the joint estimation of both price-cost markups and marginal values of product attributes under the popular semi-log specification, improving both the applicability and reliability of empirical hedonic valuation studies. Applying this new empirical strategy to analyze US lift ticket prices, our results reveal an estimated price-cost ratio between 1 and 2, with pass-sharing arrangements further amplifying this markup. Ignoring market power can bias the hedonic valuation of product attributes.</style></abstract></record></records></xml>