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Quality Measurement in Economics: New Perspectives on the Evolution of Goods and Services,Used
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The concept of quality measurement is revived and given new meaning in this innovative new book. Steven Payson argues that quality measurement is an important issue in the study of price indices and in the additional areas of product innovation and evolutionary change. The uservalue definition of quality is forcefully defended against the producercost definition, and a new method of measurement is introduced the representative good approach (RGA). The RGA provides a new means for measuring quality over long periods of time by examining historical documents. A discussion of evolutionary change lays the groundwork for the identification of two processes: quality improvement and cost reduction. Using data from the Sears Catalog, quality improvement and cost reduction rates are estimated for five goods between 1928 and 1993: shoes, sofas, gas ranges, window fans and air conditioners, and cameras. The results are dramatic, supporting groundbreaking hypotheses on the determinants of quality improvement and cost reduction.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
- Q: What is the main topic of 'Quality Measurement in Economics'? A: The book explores the concept of quality measurement in economics, focusing on its significance in price indices, product innovation, and evolutionary change.
- Q: Who is the author of the book? A: The author of 'Quality Measurement in Economics' is Steven Payson.
- Q: What is the representative good approach (RGA)? A: The RGA is a new method introduced in the book for measuring quality over time by examining historical documents.
- Q: What is the condition of the book being sold? A: The book is listed as a 'Used Book in Good Condition'.
- Q: When was this book published? A: The book was published on March 1, 1994.
- Q: Is this book suitable for beginners in economics? A: While the book provides valuable insights, it is recommended for readers with some background in economics due to its analytical depth.
- Q: How many pages does 'Quality Measurement in Economics' have? A: The book contains 256 pages.
- Q: What topics related to quality measurement does the book cover? A: The book discusses quality improvement and cost reduction processes using data from the Sears Catalog.
- Q: What is the edition of this book? A: This is the First Edition of 'Quality Measurement in Economics'.
- Q: What is the binding type of the book? A: The book is bound in hardcover.