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Comment on Different Approaches to Index Number Theory

Author

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  • Diewert, Erwin
  • Hill, Robert J.

Abstract

Van Veelen and van der Weide (2008) in a recent paper provided some interesting new perspectives on the index number problem. However, the present paper argues that their definitions of a true index and an exact index are different from the standard definitions in the literature. The differences between the various approaches is explained in the present paper.

Suggested Citation

  • Diewert, Erwin & Hill, Robert J., 2009. "Comment on Different Approaches to Index Number Theory," Economics working papers erwin_diewert-2009-5, Vancouver School of Economics, revised 21 Jan 2009.
  • Handle: RePEc:ubc:bricol:erwin_diewert-2009-5
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    File URL: http://www.econ.ubc.ca/diewert/dp0905.pdf
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    Keywords

    Exact index numbers; true index numbers; multilateral indexes; the Fisher ideal index; cost of living indexes; the measurement of welfare change; dual;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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