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Can Aggregation Across Goods be Achieved by Neglecting The Problem? Property Inheritance and Aggregation Bias

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  • Bertrand M. Koebel

    (Otto-von-Guericke University, Magdeburg, Germany)

Abstract

This article studies the problem of composite commodity in two different frameworks. In one case, aggregation across goods is analyzed for elementary goods that satisfy an optimality condition. The unrestricted case is also examined. The notion of an approximate aggregate representation is formalized and shown to be always possible. Can thereby aggregation issues simply be neglected in economic contributions? I show that the standard economic properties of initial functions are not necessarily inherited by the approximate aggregate. The severity of this problem and the size of the aggregation bias across inputs are investigated empirically. Copyright 2002 by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Resarch Association

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 43 (2002)
Issue (Month): 1 (February)
Pages: 223-255

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Handle: RePEc:ier:iecrev:v:43:y:2002:i:1:p:223-255

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Cited by:
  1. Rosario Crinò, 2007. "Service Offshoring and White-Collar Employment," CESifo Working Paper Series 2040, CESifo Group Munich.
  2. Lichter, Andreas & Peichl, Andreas & Siegloch, Sebastian, 2014. "The Own-Wage Elasticity of Labor Demand: A Meta-Regression Analysis," IZA Discussion Papers 7958, Institute for the Study of Labor (IZA).
  3. Rosario Crino, 2006. "Are U.S. White-Collar Really at Risk of Service Offshoring?," KITeS Working Papers 183, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Oct 2006.
  4. Rickman, Neil & Witt, Robert, 2003. "The Determinants of Employee Crime in the UK," CEPR Discussion Papers 3891, C.E.P.R. Discussion Papers.
  5. Salois, Matthew J. & Livanis, Grigorios T. & Moss, Charles B., 2006. "Estimation of Production Functions using Average Data," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35401, Southern Agricultural Economics Association.
  6. Koebel, Bertrand M. & Falk, Martin & Laisney, François, 2000. "Imposing and testing curvature conditions on a Box-Cox function," ZEW Discussion Papers 00-70, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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