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International Price Comparisons Based Upon Incomplete Data

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  • Robert Summers

Abstract

This paper is directed at the following question: given an incomplete set of price data relating to goods or services in some category of output for each of a number of different countries, what arithmetic should be performed on the prices to get a meaningful representation of the relative category price‐levels of the countries? In the course of developing an answer to the question, some broader matters are considered and illuminated. A comparison of category price‐levels for different countries is analogous to a commonly‐encountered problem in many areas, that of ranking ordinally or cardinally in one dimension a group of “entities”—persons, households, firms, industries, etc.—on the basis of sets of measurements associated with the individual entities. It is this point of view which dominates the following presentation.

Suggested Citation

  • Robert Summers, 1973. "International Price Comparisons Based Upon Incomplete Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 19(1), pages 1-16, March.
    • Handle: RePEc:bla:revinw:v:19:y:1973:i:1:p:1-16
    DOI: 10.1111/j.1475-4991.1973.tb00870.x
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