The True Cost-of-Living Index With Changing Preferences
研究了偏好变化条件下真实生活成本指数的理论与实证性质，基于二次支出系统用1960-1981年季度数据计算了一个真实指数，并与帕氏和拉氏指数比较，发现该指数增长更快且波动更大。
This article investigates the theoretical and empirical properties of a true cost-of-living index under conditions of changing preferences. A family of true indexes is defined based on the notion of the current utility function. A particular index, based on the previous period's utility level, is then defined. Given this definition, a true cost-of-living index is computed based on a quadratic expenditure system estimated with quarterly data from 1960–1981. For empirical purposes, changes in preferences are represented by the linear habit formation hypothesis. This index is then compared with Paasche and Laspeyres indexes. The true cost-of-living index grows somewhat faster than either the Paasche or Laspeyres index. It also displays considerably more variability.