A comparison of six sampling schemes for price index construction in a COICOP food group

This article compares the behaviour of sampling techniques for price indices using a scanner data set as a model population. Indices produced by two purposive deterministic cut-off designs and four probabilistic sampling schemes are compared with each other and with the 'true' population i...

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Bibliographic Details
Published inApplied economics Vol. 46; no. 22; pp. 2685 - 2699
Main Authors Heravi, Saeed, Morgan, Peter
Format Journal Article
LanguageEnglish
Published London Routledge 03.08.2014
Taylor & Francis Ltd
Subjects
Applied economics
Comparative studies
Economic analysis
Economic models
Estimation
jackknife
Price index
Price indexes
price indices
Price theory
product classification
Sampling
Sampling techniques
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Summary:This article compares the behaviour of sampling techniques for price indices using a scanner data set as a model population. Indices produced by two purposive deterministic cut-off designs and four probabilistic sampling schemes are compared with each other and with the 'true' population index from the whole data set. We found that the two deterministic cut-off sampling schemes show much different behaviour from the probabilistic sampling schemes. This is not unexpected, as the former schemes have a very restricted focus with respect to the variety of products. We also found that the probabilistic schemes are generally closer to each other and the 'true' value than the deterministic cut-off designs. The jackknife resampling technique is also explored as a means of estimating the SE of the index and compared with the actual results from repeated sampling.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
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content type line 23
ISSN:0003-6846
1466-4283
DOI:10.1080/00036846.2014.909574