Spatial Price Aggregation, Item Weight and Constant Utility

James C. Simmons and Elihu Schneider
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James C. Simmons: Florida State University
Elihu Schneider: Florida Department of Revenue

The Review of Regional Studies, 1988, vol. 18, issue 2, 70-74

Abstract: It should be obvious that it would be meaningless to aggregate the prices of unlike items to form one index from two. It is for this reason that the BLS, to all intents and purposes, uses approximately the same list of items in all locations for the price survey. The BLS is very careful to insure that the physical and qualitative characteristics of items are the same in all locations. They make no assumption about the utility of items for consumers, although they use different location-specific item weights or 'relative importances.' This article proposes to demonstrate some of the effects of this practice.

Date: 1988
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