The Super Price Index: Irving Fisher, and after
It is submitted that, for the very large number of different traditional type formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. A method is proposed whereby price levels associated periods are first all computed together, subject to a consistency of the data, and then price indices that are all true are determined from their ratios. An approximation method can apply in the case of inconsistency.
|Date of creation:||Jan 2007|
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- Afriat, S N, 1973. "On a System of Inequalities in Demand Analysis: An Extension of the Classical Method," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 14(2), pages 460-72, June.
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