Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (23250)	9/29/2000 10:44:18 PM
From: LLCF	Read Replies (2) of 436258

Ho ho ho... they get better every month... Grant is really pulling out the stops now. Great article "Seeing is disbelieving" about the CPI which of course entails quite a bit of hedonic techniques: 1991: Hedonic pricing introduced for apparel; greater recognition for discount air fairs. 1992: Improved imputation methods for new product models. 1994: Quality improvement recognized for reformulated gasoline. 1995: Generic pricing recognized for drugs; seasoning procedures introduced for food to eliminate upward bias. 1996 Seasoning extended to other products. etc. etc. TV's in 1999, Refridge and microwave's in 2000 and mathematical techniques to reflect the propensity of shoppers to find bargains. Brookings institute's economist Bosworth: "the total price increase in a subsample fo the CPI, covering about 70% of the total, amounted to 4.7%, but the BLS determined that 2.6% or slightly over half of the increase, represented improvements in quality." Ho ho... A must order article all, it's the lead article and available @: grantspub.com DAK

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