But the way we calculate price indices is not the same as a scientific measure. We rely of a select group of indicators, but the selection cannot be determined scientifically. We have all sorts of potential measures of price levels, by age group, by location, by income. Once we select the measures, then we have to set weightings.
I remember when Clinton had to decide whether gasoline additives were treated as a quality improvement or as a cost increase. -- Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
