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December 1993, Vol. 116,
No. 12
Quality adjustment of price indexes
Mary F. Kokoski
Economist, Division of Price and Index
Number Research, Bureau of Labor Statistics
Hedonic analysis may provide a viable
alternative to other methods currently used to net out the
effects of quality change in items in the CPI market basket, so that the desired measure of pure
price change is obtained. This article addresses the problem of
quality change in the CPI, with particular emphasis on the empirical technique of
hedonic regression as a method of measuring the value of quality
differences in goods and services.
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