3 ms·
You should take a look at Pia Maloney and Eric Weinstein work. CPI is broken because it doesn't factor in a "change in taste or prefence" CPI treats individua
by nbardy 5y ago
You should take a look at Pia Maloney and Eric Weinstein work.
CPI is broken because it doesn't factor in a "change in taste or prefence"
CPI treats individuals as a giant unmovimg population mean.
To counter they change to use vector fields.
- xadhominemx 5y agoOf course preference is included in CPI. Weightings are adjusted periodically as consumer spending patterns shift, and price elasticity is explicitly factored on a quarterly basis in chained cpi