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  • Rule: ActivityStreamsMapasEquivalentb3sb3sifpdbprdf-labelfacetshttp://dbpedia.org/resource/inference/rules/dbpedia#http://dbpedia.org/resource/inference/rules/opencyc#http://dbpedia.org/resource/inference/rules/umbel#http://dbpedia.org/resource/inference/rules/yago#http://dbpedia.org/schema/property_rules#http://www.ontologyportal.org/inference/rules/SUMO#http://www.ontologyportal.org/inference/rules/WordNet#http://www.w3.org/2002/07/owl#ldpoplwebskos-transurn:det:rdf:labelvirtrdf-labelvirtrdf-urlNone
    
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About: Quality bias     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatPriceIndices, within Data Space : dbpedia.org:8891 associated with source document(s)

Type: yago:Abstraction100002137yago:Communication100033020yago:Fact106636259yago:Index106639674yago:Information106634376yago:Message106598915yago:PriceIndex106641181yago:WikicatPriceIndices New Facet based on Instances of this Class

Quality bias in price indices is a kind of mismeasurement if they do not incorporate data on the quality of goods from period to period, as well as their nominal price. Personal computers are a canonical case. Because of improvements in computer chips, greater and greater speeds and features have become available, without substantial increases in price. If only price information on personal computers were used, quality bias would cause growth in a consumer price index (CPI) to be overestimated, since an equivalent computer would actually be much cheaper in later periods.