1. Department of Statistics , Chonnam National University , Kwangju , Korea ysson@chonnam.ac.kr;3. Department of Statistics , Chonnam National University , Kwangju , Korea
Abstract:
In this article, we present and discuss an original price index being a special case of a general formula for price indices. We show that the discussed formula satisfies most postulates coming from the axiomatic price index theory. We compare this index to other known and popular price indices in a simulation study.