The Analytical Approach

G. Stuvel
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G. Stuvel: All Souls College

Chapter 3 in The Index-Number Problem and Its Solution, 1989, pp 21-35 from Palgrave Macmillan

Abstract: Abstract The traditional approach to the index-number problem, which we discussed in Chapter 2, has produced quite a variety of average measures of price and volume developments of commodity aggregates, which are positioned in between the Laspeyres and Paasche measures. Normally they do not differ much numerically, particularly in short-term comparisons. This makes the choice between these different average measures a matter of little consequence in those cases where what is needed is no more than a measure of price development on its own or a measure of volume development on its own. All the same, a choice will have to be made and, apart from such considerations as simplicity of formula, speed of calculation and the like, that choice is likely to be determined by a comparison of the properties which the various hybrid index numbers possess. The testing of index numbers to find out which properties they do and which properties they do not have is discussed in Chapter 4.

Date: 1989
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DOI: 10.1007/978-1-349-10816-9_3

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