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Value data and the Bennet price and quantity indicators

Author

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  • Cross, Robin M.
  • Färe, Rolf

Abstract

We derive value-based Bennet indicators, expressed in terms of revenues and expenditures (values) and relative prices, rather than prices and quantities. We then show how relative price information is recoverable from value data when agents are rational.

Suggested Citation

  • Cross, Robin M. & Färe, Rolf, 2009. "Value data and the Bennet price and quantity indicators," Economics Letters, Elsevier, vol. 102(1), pages 19-21, January.
    • Handle: RePEc:eee:ecolet:v:102:y:2009:i:1:p:19-21
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    References listed on IDEAS

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    1. Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
    2. Varian, Hal R, 1984. "The Nonparametric Approach to Production Analysis," Econometrica, Econometric Society, vol. 52(3), pages 579-597, May.
    3. E. T. McPHEE., 1928. "Notes," The Economic Record, The Economic Society of Australia, vol. 4(1), pages 92-95, May.
    4. W. Erwin Diewert, 2005. "Index Number Theory Using Differences Rather Than Ratios," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(1), pages 311-360, January.
    5. Chambers, Robert G, 2001. "Consumer's Surplus As an Exact and Superlative Cardinal Welfare Indicator," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(1), pages 105-119, February.
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    Cited by:

    1. Silva Portela, Maria Conceição A., 2014. "Value and quantity data in economic and technical efficiency measurement," Economics Letters, Elsevier, vol. 124(1), pages 108-112.

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    Keywords

    Bennet indicators Prices Weak axiom;

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