Griffith, Rachel; Leibtag, Ephraim; Leicester, Andrew; … - 2008
A common approach to measuring price changes is to look at the change of the expenditure needed to purchase a fixed … basket of goods. It is well-known that this approach suffers from problems and creates several biases in the measurement of … choices of what and where to buy. However, consumers also make other choices, including how much and when to buy. We discuss …