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This volume addresses the search for a true price index, the need to know how to convert an amount at one date into the right amount at another date. The longstanding question concerning how such an index should be constructed is known as 'The Index Number Problem'.
List of contents
- Preface
- Acknowledgements
- Introduction
- I The Index Number Problem
- I: The New Formula
- II: The Power Algorithm
- III: Combinatorics
- IV: Consistency
- V: Illustration
- Bibliography
- II Construction Theorems
- > xs - xr
- 2: Principles of Choice and Preference
- 3: Utility construction-revisited
- 4: The construction of separable utility functions from expenditure data
- 5: The Connection between Demand and Utility
- 6: Revealed Preference Revealed
- Appendix: Terminology
- Appendix 1. Constant returns, conical, homogeneous
- Appendix 2. Notation
- Appendix 3. Cost Efficient, Cost Effective
- Appendix 4. Part, Chapter, Section
- Note: RES 2011 Conference Preliminary to 'Afriat's Theorem and the Index Number Problem'
About the author
Sydney Afriat was awarded a State Bursary at school for two years at Pembroke College, Cambridge. He graduated in mathematics and part physics and spent an interval during WWII at the National Physical Laboratory, Teddington, High Speed Section, Aerodynamics Division, directed by J. H. C. He was released at end of the war and whilst studying for his DPhil at Queen's College, Oxford, he became research assistant to the economist J. R. Bellerby, and then joined the Department of Applied Economics at Cambridge. He has held positions at many universities including Jerusalem, Princeton, Rice, Yale, Purdue, UNC, Waterloo, Ottawa, and Berkeley. He has been Visiting Fellow at All Souls, Oxford, Izaak Walton Killam Memorial Fellow, an Academic Visitor at the London School of Economics, Visiting Fellow at Macquarie University NSW, Visiting Professor at the Institute of Social and Economic Research, Osaka and at the University of Siena, and Jean Monnet Fellow at the European University Institute.
Summary
This volume addresses the search for a true price index, the need to know how to convert an amount at one date into the right amount at another date. The longstanding question concerning how such an index should be constructed is known as 'The Index Number Problem'.
Additional text
There can be no excuse, any further, for careless empirical construction of vital indices: no one claiming to be an economist, theoretical or applied, can ignore reading, absorbing, and taking pure pleasure in tackling the seemingly intractable i.e., ^
