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Seasonality, consumer heterogeneity and price indexes: the case of prepackaged software

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  • Adam Copeland

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Abstract

This paper measures constant-quality price change for prepackaged software in the US using detailed and comprehensive scanner data. Because there is a large sales surge over the winter-holiday, it is important to account for seasonal variation. Using a novel approach to constructing a seasonally-adjusted cost-of-living price index that explicitly accounts for consumer heterogeneity, I find that from 1997 to 2003 constant-quality software prices declined at an average 15.9% at an annual rate. As a point of comparison, the Bureau of Labor Statistics reports average annual price declines of only 7.7% for prepackaged software. Copyright Springer Science+Business Media, LLC 2013

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File URL: http://hdl.handle.net/10.1007/s11123-012-0266-2
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Bibliographic Info

Article provided by Springer in its journal Journal of Productivity Analysis.

Volume (Year): 39 (2013)
Issue (Month): 1 (February)
Pages: 47-59

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Handle: RePEc:kap:jproda:v:39:y:2013:i:1:p:47-59

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Web page: http://www.springerlink.com/link.asp?id=100296

Related research

Keywords: Seasonal adjustment; Software prices; Heterogeneity; Price indexes; C43; E31; L86;

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References

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  1. Aizcorbe, Ana & Bridgman, Benjamin & Nalewaik, Jeremy, 2010. "Heterogeneous car buyers: A stylized fact," Economics Letters, Elsevier, vol. 109(1), pages 50-53, October.
  2. Diewert, W. Erwin, 1999. "Index Number Approaches To Seasonal Adjustment," Macroeconomic Dynamics, Cambridge University Press, Cambridge University Press, vol. 3(01), pages 48-68, March.
  3. Robert C. Feenstra & Matthew D. Shapiro, 2003. "Introduction to "Scanner Data and Price Indexes"," NBER Chapters, in: Scanner Data and Price Indexes, pages 1-14 National Bureau of Economic Research, Inc.
  4. Marc Prud'homme & Dimitri Sanga & Kam Yu, 2005. "A computer software price index using scanner data," Canadian Journal of Economics, Canadian Economics Association, vol. 38(3), pages 999-1017, August.
  5. Robert C. Feenstra & Matthew D. Shapiro, 2003. "Scanner Data and Price Indexes," NBER Books, National Bureau of Economic Research, Inc, number feen03-1, January.
  6. Fisher, Franklin M & Griliches, Zvi, 1995. "Aggregate Price Indices, New Goods, and Generics," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(1), pages 229-44, February.
  7. Bils, Mark, 1989. "Pricing in a Customer Market," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 104(4), pages 699-718, November.
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Cited by:
  1. David M. Byrne & Stephen D. Oliner & Daniel E. Sichel, 2013. "Is the information technology revolution over?," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2013-36, Board of Governors of the Federal Reserve System (U.S.).
  2. Daniel Melser & Iqbal A. Syed, 2013. "Prices over the Product Life Cycle: Implications for Quality-Adjustment and the Measurement of Inflation," Discussion Papers, School of Economics, The University of New South Wales 2013-26, School of Economics, The University of New South Wales.

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