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The economics of new goods

Author: Timothy F Bresnahan; Robert J Gordon
Publisher: Chicago : University of Chicago Press, ©1997.
Series: Studies in income and wealth, v. 58.
Edition/Format:   Print book : Conference publication : EnglishView all editions and formats
Database:WorldCat
Summary:
New goods are at the heart of economic progress. But the value created by new goods must somehow be converted into an exact quantitative measure if official data on inflation, such as the Consumer Price Index, are to represent accurately the theoretical concept of a true "cost-of-living" index, and if official data are to capture the annual increase in output and productivity contributed by the invention of new  Read more...
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Genre/Form: Conference papers and proceedings
Congresses
Congrès
Material Type: Conference publication, Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Timothy F Bresnahan; Robert J Gordon
ISBN: 0226074153 9780226074153
OCLC Number: 34974617
Description: x, 494 pages : illustrations ; 24 cm.
Contents: Do real-output and real-wage measures capture reality? : the history of lighting suggests not / William D. Nordhaus --
Quality adjusted prices for the American automobile industry : 1906-1940 / Daniel M.G. Raff and Manuel Trajtenberg --
The welfare implications of invention / Walter Y. Oi --
Science, health, and household technology : the effect of the Pasteur revolution on consumer demand / Joel Mokyr and Rebecca Stein --
Valuation of new goods under perfect and imperfect competition / Jerry A. Hausman --
Bias in U.S. import prices and demand / Robert C. Feenstra and Clinton R. Shiells --The roles of marketing, product quality, and price competition in the growth and composition of the U.S. antiulcer drug industry / Ernst R. Berndt, et al. --
From superminis to supercomputers : estimating surplus in the computing market / Shane M. Greenstein --
New products and the U.S. consumer price index / Paul B. Armknecht, Walter F. Lane, and Kenneth J. Stewart --
The construction of basic components of cost-of-living indexes / Marshall B. Reinsdorf and Brent R. Moulton --
New goods from the perspective of price index making in Canada and Japan / Andrew Baldwin, et al.
Series Title: Studies in income and wealth, v. 58.
Responsibility: edited by Timothy F. Bresnahan and Robert J. Gordon.
More information:

Abstract:

New goods are at the heart of economic progress. But the value created by new goods must somehow be converted into an exact quantitative measure if official data on inflation, such as the Consumer Price Index, are to represent accurately the theoretical concept of a true "cost-of-living" index, and if official data are to capture the annual increase in output and productivity contributed by the invention of new goods as well as steady improvements in the quality of old goods. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change.

Table of Contents:

by WTYILL@KUK (WorldCat user on 2007-08-17)

Prefatory Note ix Introduction / Timothy F. Bresnahan and Robert J. Gordon 1 I. HISTORICAL REASSESSMENTS OF ECONOMIC PROGRESS 1. Do Real-Output and Real-Wage Measures Capture Reality? The History of Lighting Suggests Not / William D. Nordhaus 29 Comment: Charles R. Hulten 2. Quality-Adjusted Prices for the American Automobile Industry: 1906-1940 / Daniel M. G. Raff and Manuel Trajtenberg 71 Comment: Jack E. Triplett 3. The Welfare Implications of Invention / Walter Y. Oi 109 4. Science, Health, and Household Technology: The Effect of the Pasteur Revolution on Consumer Demand / Joel Mokyr and Rebecca Stein 143 Comment: John C. Brown II. CONTEMPORARY PRODUCT STUDIES 5. Valuation of New Goods under Perfect and Imperfect Competition / Jerry A. Hausman 209 Comment: Timothy F. Bresnahan 6. Bias in U.S. Import Prices and Demand / Robert C. Feenstra and Clinton R. Shiells 249 Comment: Zvi Griliches 7. The Roles of Marketing, Product Quality, and Price Competition of the U.S. Antiulcre Drug Industry / Ernst R. Berndt, Linda T. Bui, David H. Lucking-Reiley, and Glen L. Urban 277 Comment: Valerie Y. Suslow 8. From Superminis to Supercomputers: Estimating Surplus in the Computing Market / Shane M. Greenstein 329 Comment: Erik Brynjolfsson III. MEASUREMENT PRACTICE IN OFFICIAL PRICE INDEXES 9. New Products and the U.S. Consumer Price Index / Paul A. Armknecht, Walter F. Lane, and Kenneth J. Stewart 375 Comment: Frank C. Wykoff 10. The Construction of Basic Components of Cost-of-Living Indexes / Paul A. Armknecht, Walter F. Lane, and Kenneth J. Stewart 397 Comment: W.E. Diewert 11. New Goods from the Perspective of Price Index Making in Canada and Japan / Andrew Baldwin, Pierre Després, Alice Nakamura, and Masao Nakamura 437 Comment: Robert Summers Contributors 477 Name Index 481 Subject Index 487

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