Arbeitspapier
A nonparametric method for valuing new goods
This paper presents a revealed preference method for calculating a lower bound on the virtual or reservation price of a new good and suggests a way to improve these bounds by using budget expansion paths. This allows the calculation of cost-of-living and price indices when the number of goods available changes between periods. We apply this technique to the UK National Lottery and illustrate the effects of its inclusion in measures of inflation.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 143
- Klassifikation
-
Wirtschaft
Index Numbers and Aggregation; Leading indicators
Consumer Economics: Theory
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Blow, Laura
Crawford, Ian
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Blow, Laura
- Crawford, Ian
- European Central Bank (ECB)
Entstanden
- 2002
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