3 ms·

I can understand a certain amount of switching in the basket - e.g. a washing machine or dishwasher was once a "luxury good" in a market such as USA, but is now

by manarth 7mo ago

I can understand a certain amount of switching in the basket - e.g. a washing machine or dishwasher was once a "luxury good" in a market such as USA, but is now (for the most part) an everyone-appliance. Interesting to consider the alternative case though, an "everyone basket item" becoming a "luxury good". Democracy, maybe? But I don't think they've put that in the CPI basket - yet! :-P

PowerElectronix 7mo ago
It's more like, refrigerators are now way more expensive, but because they are also more comlonly equipped with led fixtures and have more style (no joking here, they somehow are measuring style as a metric) then it's all good and they have actually just increased around 2% with respect yo the base model (that cost like a third in dollars back in 1995)
- pas 7mo ago
  FYI everyone can check the model used for hedonic adjustment for fridges style is important, because stylish things are more in demand (that's why they are considered stylish), and the abstract property of style by definition is a "value quality" that doesn't affect the temperature keeping properties, whereas things like are there drawers or shelves does (as cold air is kept better by drawers - but of course they are less convenient) that said, the style here seems to be simply a catch-all term for the organization of the inside, and the access methods (eg. doors). https://www.bls.gov/cpi/quality-adjustment/fridges.htm https://www.bls.gov/cpi/quality-adjustment/fridges.htm ... interestingly there's no parameter for noise or energy efficiency. (I was happy to pay a bit more for a really quiet one.)
pas 7mo ago
the category is still in the basket (washers and dryers) but there's a model to compare an old washing machine with a new modern fancy one https://www.bls.gov/cpi/quality-adjustment/clothes-washers.htm https://www.bls.gov/cpi/quality-adjustment/clothes-washers.h...

by manarth 7mo ago

PowerElectronix 7mo ago

It's more like, refrigerators are now way more expensive, but because they are also more comlonly equipped with led fixtures and have more style (no joking here, they somehow are measuring style as a metric) then it's all good and they have actually just increased around 2% with respect yo the base model (that cost like a third in dollars back in 1995)

pas 7mo ago
FYI everyone can check the model used for hedonic adjustment for fridges style is important, because stylish things are more in demand (that's why they are considered stylish), and the abstract property of style by definition is a "value quality" that doesn't affect the temperature keeping properties, whereas things like are there drawers or shelves does (as cold air is kept better by drawers - but of course they are less convenient) that said, the style here seems to be simply a catch-all term for the organization of the inside, and the access methods (eg. doors). https://www.bls.gov/cpi/quality-adjustment/fridges.htm https://www.bls.gov/cpi/quality-adjustment/fridges.htm ... interestingly there's no parameter for noise or energy efficiency. (I was happy to pay a bit more for a really quiet one.)

pas 7mo ago

the category is still in the basket (washers and dryers) but there's a model to compare an old washing machine with a new modern fancy one https://www.bls.gov/cpi/quality-adjustment/clothes-washers.htm https://www.bls.gov/cpi/quality-adjustment/clothes-washers.h...