| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14433 |
| 来源ID | Working Paper 14433 |
| Timing and Quantity of Consumer Purchases and the Consumer Price Index | |
| Rachel Griffith; Ephraim Leibtag; Andrew Leicester; Aviv Nevo | |
| 发表日期 | 2008-10-24 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | A common approach to measuring price changes is to look at the change of the expenditure needed to purchase a fixed basket of goods. It is well-known that this approach suffers from problems and creates several biases in the measurement of price changes faced by consumers. Substitution and outlet bias, two commonly studied concerns, are both driven by consumer choices of what and where to buy. However, consumers also make other choices, including how much and when to buy. We discuss the implications of consumers' timing and quantity decisions have on standard practices of computing of computing a price index. We use household-level data on quantities purchased and prices paid to construct a measure of the savings made by consumers' optimizing behaviour in the purchase of food. In particular, we compare the prices actually paid by the consumers to various alternatives that do not allow for substitution. Our analysis suggests that the average consumer makes significant, and comparable in magnitude, savings from the four dimensions of choice that we study. Furthermore, our data suggests significant heterogeneity in consumer behavior, and that this behavior is correlated with demographics. Our findings suggest that ignoring timing and quantity decisions, when computing a price index, can generate biases on the order of magnitude of substitution and outlet biases. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Business Cycles ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w14433 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572108 |
| 推荐引用方式 GB/T 7714 | Rachel Griffith,Ephraim Leibtag,Andrew Leicester,et al. Timing and Quantity of Consumer Purchases and the Consumer Price Index. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14433.pdf（187KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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