Abstract
This paper provides an empirical and an algebraic comparison between the formula for “true” Index of Cost of Living (true CLI),(synonymously referred to in this paper as constant-utility price index or economic price index or sirnoly as true index of price), given by the Factorial Approach (FA) on one hand, and, on the other,the formula for the constant-utility index of price given by the Klein-Rubin (Geary-Stone) form of the utility function and the formula for the true CLI emerging from quadratic approximation of the utility function as given by dald. The agreement is demon- strated to be remarkable.
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