On an Index of Quality Change

Abstract

This paper discusses a multiple-regression chain-index technique for the construction of an index of quality change, and illustrates its feasibility by reference to a price index for automobiles. The interaction of our quality index with the usual Laspeyre type price index is studied. It is demonstrated that the quality index suggested bears the same relationship to a constant-satisfaction index as does an ordinary price index, and that this index is an appropriate deflator for the CPI.

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