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The Super Price Index: Irving Fisher, and after

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  • Sydney Afriat
  • Carlo Milana

Abstract

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.

Suggested Citation

  • Sydney Afriat & Carlo Milana, 2007. "The Super Price Index: Irving Fisher, and after," Department of Economics University of Siena 492, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:492
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    File URL: http://repec.deps.unisi.it/quaderni/492.pdf
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    References listed on IDEAS

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    1. 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 460-472, June.
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    Cited by:

    1. Sydney N. Afriat & Carlo Milana, 2007. "Price-Level Computation: Illustrations," Department of Economics University of Siena 506, Department of Economics, University of Siena.

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    More about this item

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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