A two-stage language-model method estimates private valuations and bidder counts from car auction descriptions and outperforms OLS and one-stage baselines out of sample.
On the choice of funtional form for hedonic price functions.Review of Economics and Statistics, pages 668–675, 1988
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Decoding Consumer Preferences Using Attention-Based Language Models
A two-stage language-model method estimates private valuations and bidder counts from car auction descriptions and outperforms OLS and one-stage baselines out of sample.