The Differential Approach to Superlative Index Number Theory

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

Econometrics from University Library of Munich, Germany

Abstract: Diewert's "superlative" 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: Theil; Diewert; superlative; index; numbers; Divisia; differential; approach (search for similar items in EconPapers)
JEL-codes: C8 (search for similar items in EconPapers)
Date: 2001-11-07, Revised 2001-12-28
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Related works:
Working Paper: The Differential Approach to Superlative Index Number Theory (2012)
Journal Article: The Differential Approach to Superlative Index Number Theory (2003)
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