Theory, Economics, Measurement, and the Principle of Relative Constancy

This article discusses the theoretical problems posed by the Principle of Relative Constancy (PRC). We argue that the PRC suffers from imprecision in definition of terms, measurement problems, and a failure to adequately meet the purposes of theory. We also argue that despite the PRC's important contributions to media economics research, existing economic theories and models are more useful in explaining consumer spending.

MoreLess

Year of publication:	1997
Authors:	Lacy, Stephen ; Noh, Ghee-Young
Published in:	Journal of Media Economics. - Taylor & Francis Journals, ISSN 0899-7764. - Vol. 10.1997, 3, p. 3-16
Publisher:	Taylor & Francis Journals

More details

Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009221065