By Dr. Arthur Vogt, Dipl. math. János Barta (auth.)

Arthur Vogt has dedicated loads of his clinical efforts to either individual and paintings of Irving Fisher. This ebook, written with J� nos Barta, offers a great influence of Fisher's nice contributions to the speculation of the fee index at the one hand. nevertheless, it maintains Fisher's paintings in this topic alongside the strains which numerous authors drew with appreciate to cost index conception due to the fact that Fisher's loss of life fifty years ago.
"This is a hugely instructive e-book on either the heritage and thought of size in economics. it is vitally a wealthy resource of attention-grabbing homes of roughly popular indices and recognized males, specially Irving Fisher, than an exact mathematical textual content at the axiomatic foundations of indices." (From the Foreword via Wolfgang Eichhorn)

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3 lead to a product of Paasche and Edgeworth-Marshall indices, respectively. 4, the number of the factors in the three products grows, each factor getting closer and closer to 1 and the values of the products being about the same, namely a measure for the total price variation. 18 The Making of Tests for Index Numbers Approximations type Laspeyres Approximations type Paasche Approximations type Edgeworth -+ q -+ q Lf -+ q -? -+ / p Fig. 1 Fig. 2 Fig. 3 -+ q -+ q -+ q / / -+ p / -+ p Fig. 2 -+ q Fig.

59) yield the same value. As both Laspeyres' and Paasche's index satisfy this test their difference disappears. ii) r

52) this is not obvious. The exponent E has to be 1 for n=l in order that the price-relative-preserving theorem is fulfilled. g. the index by Vartia (1976). It is to mention that the algorithms defining the indices by Ikle (1972) and Martini (1992) do not lead to "direct" index formulae. But there are even more "bad" or not interesting indices or, stated in the words of Divisia (1965:261): ... which gives a double infinity of possible indices. Without good economic reasons it is - believe us - nothing else than an algebraical phantasmagoria.

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