Taste Change in the True Cost-of-Living Index

Souza, Eric
(1974) , 24 pages

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  • Souza, Eric
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Abstract
(en) The theory of the true cost-of-living index is a natural corollary to consumer demand theory. The introduction of the linear expenditure model by Klein and Rubin (1947-48) demonstrated that it was possible to arrive at theoretically plausible demand models which could be estimated, without having direct recourse to a preference ordering, even if the class of utility functions underlying their model was soon discovered by Geary (1950-51), This development also allowed econometric applications of the theory of the true cost-of-living index (cfr, GOLDBERGER (1967).
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Souza, E. (1974). Taste Change in the True Cost-of-Living Index (Working Papers Institut des sciences économiques 7403). https://hdl.handle.net/2078.5/275713