Politicians and scientists have a strong interest in reliable regional and international comparisons of productivity, income, wages, and social benefits. Such comparisons require meaningful indicators of the regional and international price levels. The computation of such indicators utilizes...

This book surveys the literature on intertemporal utility and provides a fundamental analysis of dynamic decision making. In the survey part a comprehensive classification system is introduced which allows for a coherent organization of the heterogenous literature on intertemporal utility. The...

In empirical economic research, individual prices are often aggregated into average prices of sub-aggregates. Then, these average prices are aggregated to produce the average price of the total aggregate. Often, such two stage procedures help to illuminate the underlying forces driving the...

type="main" <p>This study introduces a group of Generalized Unit Value indices that evaluate price level changes. The approach is to transform the original price and quantity data into numbers that all relate to a common unit which provides the same intrinsic worth to the consumers. When, in the...</p>