We introduce a class of production function whose inputs and outputs constitute multiples of quality and quantity. Under the efficiency unit approach, we precisely reduce innovation regarding qualitative and quantitative improvements of production to the measurement of quality-adjusted...

We estimate the welfare gain from innovations in the LCD TVs that prevailed during the period 2005–2007 in Japan, via consumer surplus that we measure with the aid of discrete choice methods, using market data obtained from an internet price comparison service (Kakaku.com). Further, by the...

We introduce a class of production function whose inputs and outputs constitute multiples of quality and quantity. Under the efficiency unit approach, we precisely reduce innovation regarding qualitative and quantitative improvements of production to the measurement of quality-adjusted...