The paper presents a general theory of the aggregation of prices and quantities that unifies the field and relates … topics that in the past have been treated separately and unsatisfactorily, or not at all. The theory does without the common … maximization assumption. Two different derivations are given, one in continuous time, using Divisia integrals, and one employing …

The U.S. CPI is based on the Laspeyres price index, an index type that has an upward "substitution bias." Thus, the CPI … Price Index recommended adopting for the CPI a "superlative" price index, e.g., the Fisher or Tornqvist indices. Under the …" cost-of-living index (COLI)--than the Laspeyres index, but this assumption implies that: all income elasticities equal 1 …

No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget …" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for … constructing a state-specific Laspeyres price index using conveniently available information from the Census of Business and the …

Measurement of price change is based on averages - also, hedonic price index numbers. As NSIs obtain scannerdata having … known averages and index numbers including quality adjusted methods. All analysis is done in logarithmic scale. The …