We propose a method for constructing price indices when retailers use periodic sales to price-discriminate amongst heterogeneous customers. To do so, we introduce a model in which Loyal customers buy one brand and do not strategically time purchases, while Bargain Hunters always pay the lowest...

This paper proposes foundations and a methodology for survey-based tracking of well-being. First, we develop a theory in which utility depends on "fundamental aspects" of well-being, measurable with surveys. Second, drawing from psychologists, philosophers, and economists, we compile a...

Given the underlying theoretical issues, this paper presents an estimate of the household durable stock obtained by applying the «Perpetual Inventory Method» (PIM). This method generates an estimate of the stock by accumulating the past purchase of assets over their estimated service lives....

One measure of the change in the “quality” of consumption is the degree to which the consumption basket as a whole moves towards more luxurious goods, away from necessities. We introduce two related measures based on the luxury/necessity distinction. One is an index of the extent to which...

Four sources of bias in the Consumer Prices Index (CPI) have been identified. The most discussed is substitution bias, which creates a second order bias in the CPI. Three other changes besides prices changes create first order effects on a correctly measured cost of living index (COLI). (1)...

This study provides results for an hedonic regression for VCRs in the UK using relatively exhaustive scanner (bar-code) data. Specific issues addressed are sample selectivity bias, given a substantial proportion of the models have limited sales, incorporation of a proxy for the price-cost...

La calidad del agua destinada al consumo humano se puede evaluar en función de un conjunto de características. En la literatura se han propuestos diversos indicadores que permiten integrar la información de dicho conjunto en un único valor o índice global. Por otra parte, los usuarios deben...

I discuss the measurement of world poverty and inequality, with particular attention to the role of purchasing power parity (PPP) price indexes from the International Comparison Project. Global inequality increased with the latest revision of the ICP, and this reduced the global poverty line...

We investigate necessary and sufficient nonparametric conditions for the quasi-hyperbolic consumer. These turn out to be quite tractable. We investigate the performance of this model compared to the standard exponential discounting model using consumer panel data.

Afriat’s original method of proof is restored by using the minmax theorem. Copyright Springer-Verlag Berlin Heidelberg 2013