The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint) - Couverture souple

Fisher, Irving

Couverture souple

ISBN 10 : 1440065241 ISBN 13 : 9781440065248

Editeur : Forgotten Books, 2018

Synopsis

Discover how to measure and compare price changes, wages, and purchasing power with index numbers.

This book explains the theory and practice behind the formulas that track economic values, showing how to test their accuracy and apply them in real data. Grounded in extensive calculations and historical data, the work guides readers from basic types of index numbers to the best methods for precision. It explains how to assess methods, how to test results, and why some formulas are more reliable than others. A central focus is on the ideal formula and how it can be used to clear up confusion in economics and measurement.

• Learn how different index numbers are built, weighted, and tested for accuracy.
• See how tests like the circular test and factor reversal help compare formulas.
• Understand how to handle real-world data for prices, wages, and purchasing power.
• Explore the role of weighting and method selection in producing dependable measures.

Ideal for students and professionals in economics, statistics, and related fields who want a practical, tested approach to index numbers.

A propos du livre

Présentation de l'éditeur

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

Détails de l'édition

• Éditeur: Forgotten Books
• Date d'édition: 2018
• Langue: anglais
• ISBN 10: 1440065241
• ISBN 13: 9781440065248
• Reliure: Broché
• Nombre de pages: 560
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