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The Marshall-Edgeworth index, credited to Marshall (1887) and Edgeworth (1925), [11] is a weighted relative of current period to base period sets of prices. This index uses the arithmetic average of the current and based period quantities for weighting. It is considered a pseudo-superlative formula and is symmetric. [12] The use of the Marshall ...
1 History of early price indices. 2 Formal calculation. ... The Marshall–Edgeworth index (named for economists Alfred Marshall and Francis Ysidro Edgeworth), ...
An Edgeworth price cycle is cyclical pattern in prices characterized by an initial jump, which is then followed by a slower decline back towards the initial level. The term was introduced by Maskin and Tirole (1988) [ 1 ] in a theoretical setting featuring two firms bidding sequentially and where the winner captures the full market.
National accounts can be presented in nominal or real amounts, with real amounts adjusted to remove the effects of price changes over time. [11] A corresponding price index can also be derived from national output. Rates of change of the price level and output may also be of interest.
A cost index is the ratio of the actual price in a time period compared to that in a selected base period (a defined point in time or the average price in a certain year), multiplied by 100. Raw materials, products and energy prices, labor and construction costs change at different rates, and plant construction cost indexes are actually a ...
In the case of two goods and two individuals, the contract curve can be found as follows. Here refers to the final amount of good 2 allocated to person 1, etc., and refer to the final levels of utility experienced by person 1 and person 2 respectively, refers to the level of utility that person 2 would receive from the initial allocation without trading at all, and and refer to the fixed total ...
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I added the Marshall-Edgeworth formulas plus some other information I found on it. Feel free to add any other formulas. I've been slow to flesh this out.--Bkwillwm 03:38, 1 July 2008 (UTC) Okay. I just don't want to screw-up any longer-term vision that you have for this article.