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The Index Number ProblemConstruction Theorems$
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Sydney Afriat

Print publication date: 2014

Print ISBN-13: 9780199670581

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199670581.001.0001

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(p.34) IV Consistency
The Index Number Problem

S. N. Afriat

Oxford University Press

This chapter analyzes the consistency of the proposed method for solving the Index Number Problem. It argues that the proposed formulae are computed simultaneously for any number of periods, involving the data for all of them, without any of the multi-period consistency problems that comes with the conventional formulae. There is either exactness, subject to a condition on the data, or approximation, for the hypothetical underlying utility, which in any case there is no need to actually construct.

Keywords:   Index Number Problem, solution, consistency, approximation

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