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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint) - Softcover
Synopsis
THE MAKING OF INDEX NUMBERS CHAPTER I INTRODUCTION § 1. Objects of the Book For those who have'made any attempt to penetrate their mysteries, index numbers seem to have a perennial fascination. Because of recent upheavals of prices, the interest in this method of measuring such upheavals is rapidly spreading. During the last generation index numbers have gradually come into general use among economists, statisticians, and business men. The skepticism with which they were once regarded has steadily diminished. In 1896, in the Economic Journal, the Dutch economist, N. G. Pierson, after pointing out some apparently absurd results of index numbers, said: "The only possible conclusion seems to be that all attempts to calculate and represent average movements of prices, either by index numbers or otherwise, ought to be abandoned." No economist would today express such an extreme view. And yet there lingers a doubt as to the accuracy and reliability of index numbers as a means of measur
Table of Contents
TABLE OF CONTENTS; chapter PAGE; V Introduction 1; 1$ Six Types op Index Numbers Compared / 11; III) Four Methods of Weighting 1 43; IV) Two Great Reversal Tests 62; V Erratic, Biased, and Freakish Index Numbers; VI The Two Reversal Tests as Finders op Formulae 118; VII Rectifying Formulae by "Crossing" them 136 VIII Rectifying Formulae by Crossing their Weights 184; FX The Enlarged Series of Formula197; X What Simple Index Number is best?206; JXI What is the best Index Number? / 213; XII Comparing all the Index Numbers with the "Ideal/"; (Formula 353) 243; XIII The So-called Circular Test270; XIV Blending the Apparently Inconsistent Results 297; XV Speed of Calculation321; XVI Other Practical Considerations330; XVII Summary and Outlook350; Appendix I Notes to Text 371; Appendix II The Influence of Weighting ; 439; Appendix III An Index Number an Average of Ratios; Rather than a Ratio of Averages 451; xxii; TABLE OF
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- PublisherForgotten Books
- Publication date2018
- ISBN 10 1440065241
- ISBN 13 9781440065248
- BindingPaperback
- LanguageEnglish
- Number of pages562
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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability
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Paperback. Condition: New. Print on Demand. This book delves into the complex world of index numbers, a crucial tool for measuring economic phenomena like inflation, cost of living, and wage fluctuations. While seemingly straightforward, the construction of index numbers involves intricate choices and methodologies, each with its own strengths and weaknesses. Through meticulous analysis and calculations based on historical data, the author unveils the surprising inaccuracies of some commonly used formulas, while highlighting others with remarkable precision. This exploration clarifies the essential attributes of reliable index numbers and provides practical guidance for their efficient calculation. By demystifying the "fairness" of index numbers and exposing the hidden biases within different approaches, this book equips readers with the knowledge to critically evaluate these powerful economic indicators. Ultimately, it demonstrates how the careful construction and application of index numbers can replace guesswork with scientific measurement, paving the way for a deeper understanding of our economic world. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781440065248_0
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The Making of Index Numbers A Study of Their Varieties, Tests, and Reliability Classic Reprint
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The Making of Index Numbers A Study of Their Varieties, Tests, and Reliability Classic Reprint
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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint)
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Paperback. Condition: Brand New. 560 pages. 9.00x6.00x1.27 inches. This item is printed on demand. Seller Inventory # zk1440065241
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The Making of Index Numbers : A Study of Their Varieties, Tests, and Reliability (Classic Reprint)
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ISBN 10: 1440065241
ISBN 13: 9781440065248
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