Econometrica: Jul 1963, Volume 31, Issue 3

Some Observations on the Index Number Problem

https://doi.org/0012-9682(196307)31:3<391:SOOTIN>2.0.CO;2-1
p. 391-399

Yoram Barzel

A Laspeyres index of total input in the electric power industry was constructed. The nature of the bias imbedded in such an index, and its relation to the Paasche index and its bias, are investigated. Means to evaluate the actual size of the bias and means to reduce it are devised.

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