The Differential Approach to Superlative Index Number Theory

William Barnett, Ki-Hong Choi and Tara Sinclair
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Ki-Hong Choi: National Pension Research Center in Seoul, Korea

No 201234, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: Diewertís (1976) ìsuperlativeî index numbers, defined to be exact for second order aggregator functions, unify index number theory with aggregation theory, but have been difficult to identify. We present a new approach to finding elements of this class. This new approach, related to that advocated by Henri Theil (1973), transforms candidate index numbers into growth rate form and explores convergence rates to the Divisia index. Since the Divisia index in continuous time is exact for any aggregator function, any discrete time index number that converges to the Divisia index and that has a third order remainder term is superlative.

Keywords: Divisia; index numbers; superlative indexes (search for similar items in EconPapers)
Pages: 17 pages
Date: 2012-09, Revised 2012-09
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Related works:
Journal Article: The Differential Approach to Superlative Index Number Theory (2003)
Working Paper: The Differential Approach to Superlative Index Number Theory (2001)
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