Traditional index number theory decomposes a value ratio into the product of a price index times a quantity index. Growth accounting is based on this traditional approach to index number theory. This paper takes an alternative approach which decomposes a value difference into the sum of a price...

The traditional economic approach to index number theory is based on a ratio concept. The Konüs true cost of living index is a ratio of cost functions evaluated at the same utility level but with the prices of the current period in the cost function that appears in the numerator and the prices...

Economists acknowledge that technical progress and growth in capital inputs increase labour productivity (LP). However, less focus is given to the realization that changes in labour input alone could also affect LP. Because this effect disappears when the short-run technology exhibits constant...

The OECD Better Life initiative recently released a comprehensive set of 11 indicators of well-being covering a group of countries. Each individual indicator corresponds to a key topic that is essential to well-being. However, the problem of aggregating them is left to users of this dataset....

We consider the problem of allocating an amount of a perfectly divisible good among a group of n agents. We study how large a preference domain can be to allow for the existence of strategy-proof, symmetric, and efficient allocation rules when the amount of the good is a variable. This question...

Labour productivity is defined as output per unit of labour input. Economists acknowledge that technical progress as well as growth in capital inputs increases labour productivity. However, little attention has been paid to the fact that changes in labour input alone could also impact labour...

We introduce two new indexes of labour productivity growth. Both indexes are intended to capture the shift in the short-run production frontier, which can be attributed to technological progress or growth in capital inputs. The two indexes adopt distinct approaches to measuring the distance...