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The theory of economic price and quantity indicators

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Summary.

This paper develops the theory of economic price and quantity indicators, being the difference analogue of indexes. The properties of indicators and indexes are compared. Observable bounds for the indicators will be derived, as well as two exactness results for Bennet (1920)-type price and quantity indicators.

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Authors and Affiliations

  1. Erasmus Research Institute of Management, Erasmus University Rotterdam, P.O. Box 4000, 2270, JM Voorburg, THE NETHERLANDS

    Bert M. Balk

  2. Methods and Informatics Department, Statistics Netherlands, 2270, JM Voorburg, THE NETHERLANDS

    Bert M. Balk

  3. Department of Economics and Department of Agricultural and Resource Economics, Oregon State University, OR 97331-3612, Corvallis, USA

    Rolf Färe

  4. Department of Economics, Oregon State University, OR 97331-3612, Corvallis, USA

    Shawna Grosskopf

Authors
  1. Bert M. Balk
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  2. Rolf Färe
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  3. Shawna Grosskopf
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Corresponding author

Correspondence to Bert M. Balk.

Additional information

Received: 3 January 2002, Revised: 2 December 2002,

JEL Classification Numbers:

C43

Previous versions of this paper were presented at the Economic Measurement Group Workshop 2001, School of Economics, University of New South Wales, Sydney, 30 March 2001, and at a seminar at the School of Economics, University of New England, Armidale NSW, 7 September 2001. The authors thank Erwin Diewert for helpful comments on a previous version. The views expressed in this paper do not necessarily reflect any policy of Statistics Netherlands.

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Balk, B.M., Färe, R. & Grosskopf, S. The theory of economic price and quantity indicators. Economic Theory 23, 149–164 (2004) (2003). https://doi.org/10.1007/s00199-003-0364-5

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  • DOI: https://doi.org/10.1007/s00199-003-0364-5

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