<p>Lancaster initiated what has come to be called "<a href="https://en.wikipedia.org/wiki/Hedonic_regression" rel="nofollow noreferrer">Hedonic Demand Analysis</a>", or "Hedonic Price Analysis".</p>

<p>This field of analysis has been rigorously housed in microeconomic theory in the seminal paper</p>

<p><a href="http://www.jstor.org/stable/1830899" rel="nofollow noreferrer"><strong>Rosen, S. (1974). Hedonic prices and implicit markets: product differentiation in pure competition. Journal of political economy, 82(1), 34-55.</strong></a></p>

<p>It has also entered in a very important way applied economics and policy, since, for example, for many years now USA calculates the official Consumer Price Index using the "Hedonic" framework (mainly in order to accomodate changes in quality). There is, as one can understand, a vast literature on the matter.</p>

CC BY-SA 3.0
2017-03-16T19:28:16.743Z
2017-03-16T19:28:16.743Z
Alecos Papadopoulos
<p>Not really sure what you mean by status. Hopefully not my subjective opinion.</p>

<p>An objective measure could be recent citations. According to Google Scholar his seminal article had 621 citations in articles published in 2016.</p>

<p><a href="https://scholar.google.hu/scholar?as_ylo=2016&amp;hl=en&amp;as_sdt=2005&amp;sciodt=0,5&amp;cites=2474203905604306248&amp;scipsc=" rel="nofollow noreferrer">https://scholar.google.hu/scholar?as_ylo=2016&amp;hl=en&amp;as_sdt=2005&amp;sciodt=0,5&amp;cites=2474203905604306248&amp;scipsc=</a></p>

CC BY-SA 3.0
2017-03-16T19:15:19.407Z
2017-03-16T19:15:19.407Z
Giskard
<p>In 1966 Kevin Lancaster proposed a new Economic Theory based on product characteristics instead of product utility. I would like to know the status of this theory nowadays among economists specifically those dedicated to Economic Theory.
Thank You</p>

<utility><consumer-theory>
Lancaster's Characteristics Theory
Luiz Gazzola
# Lancaster's Characteristics Theory

(Asked by: username_0 on 2017-03-16)

In 1966 Kevin Lancaster proposed a new Economic Theory based on product characteristics instead of product utility. I would like to know the status of this theory nowadays among economists specifically those dedicated to Economic Theory.
Thank You

**Tags:** utility, consumer-theory

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## 2 answers

### Answer by username_1 on 2017-03-16. Score: 3

Lancaster initiated what has come to be called "[Hedonic Demand Analysis](https://en.wikipedia.org/wiki/Hedonic_regression)", or "Hedonic Price Analysis".

This field of analysis has been rigorously housed in microeconomic theory in the seminal paper

[**Rosen, S. (1974). Hedonic prices and implicit markets: product differentiation in pure competition. Journal of political economy, 82(1), 34-55.**](http://www.jstor.org/stable/1830899)

It has also entered in a very important way applied economics and policy, since, for example, for many years now USA calculates the official Consumer Price Index using the "Hedonic" framework (mainly in order to accomodate changes in quality). There is, as one can understand, a vast literature on the matter.


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### Answer by username_2 on 2017-03-16. Score: 0

Not really sure what you mean by status. Hopefully not my subjective opinion.

An objective measure could be recent citations. According to Google Scholar his seminal article had 621 citations in articles published in 2016.

<https://scholar.google.hu/scholar?as_ylo=2016&hl=en&as_sdt=2005&sciodt=0,5&cites=2474203905604306248&scipsc=>


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