Most economic research seeks to reveal truths about economic relationships. This paper is different because it reflects on how those truths are revealed, focusing on a research strategy that is common in the data analysis stage. The paper introduces alternative strategies and shows that they...

Abstract: It turns out that price index functions share a basic interpretation; practically all of them measure a change in some average of quality-adjusted prices. The different options are distinguished by their choice of average, their definition of quality, and their stance on what I...