Characteristicity versus universality trade-off: Difference between revisions
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In the context of PPP calculation, the '''characteristicity versus universality trade-off''' refers to the trade-off between maintaining the characteristicity of binary comparisons and the universality of multilateral comparisons. Here: | In the context of PPP calculation, the '''characteristicity versus universality trade-off''' refers to the trade-off between maintaining the characteristicity of binary comparisons and the universality of multilateral comparisons. Here: | ||
* ''Characteristicity'' means | * ''Characteristicity'' means an index more faithfully represents the constituent countries, i.e. the index is more ''characteristic'' of those countries. Binary comparisons have more characteristicity because the index is only ''about'' the two countries in question, whereas a multilateral index incorporates information from other countries that aren't directly being compared. | ||
* ''Universality'' means | * ''Universality'' means all countries are compared according to a "common standard". | ||
==History== | ==History== | ||
The term "country characteristicity" was introduced by Drechsler in 1975.<ref name="icrgp1982">{{cite web |url=http://documents.worldbank.org/curated/en/974171468766774952/pdf/multi-page.pdf |title=World Product and Income: International Comparisons of Real Gross Product (United Nations International Comparison Project Phase III) |year=1982 |first1=Irving B. |last1=Kravis |first2=Alan |last2=Heston |first3=Robert |last3=Summers |publisher=Johns Hopkins University Press |accessdate=November 5, 2017}}</ref>{{rp|73}} | The term "country characteristicity" was introduced by Drechsler in 1975 or 1973 ({{cite web |url=http://onlinelibrary.wiley.com/doi/10.1111/j.1475-4991.1973.tb00871.x/full |title=Weighting of index numbers in multilateral international comparisons |journal=Review of income and wealth |first=László |last=Drechsler}}).<ref name="icrgp1982">{{cite web |url=http://documents.worldbank.org/curated/en/974171468766774952/pdf/multi-page.pdf |title=World Product and Income: International Comparisons of Real Gross Product (United Nations International Comparison Project Phase III) |year=1982 |first1=Irving B. |last1=Kravis |first2=Alan |last2=Heston |first3=Robert |last3=Summers |publisher=Johns Hopkins University Press |accessdate=November 5, 2017}}</ref>{{rp|73}} | ||
The trade-off is covered in the United Nations International Comparison Project Phase III.<ref name="icrgp1982" />{{rp|101}} | The trade-off is covered in the United Nations International Comparison Project Phase III, published in 1982.<ref name="icrgp1982" />{{rp|101}} | ||
==See also== | ==See also== | ||
* [[Comparison of PPP formulas]] | |||
==External links== | ==External links== | ||
Latest revision as of 03:47, 12 November 2017
In the context of PPP calculation, the characteristicity versus universality trade-off refers to the trade-off between maintaining the characteristicity of binary comparisons and the universality of multilateral comparisons. Here:
- Characteristicity means an index more faithfully represents the constituent countries, i.e. the index is more characteristic of those countries. Binary comparisons have more characteristicity because the index is only about the two countries in question, whereas a multilateral index incorporates information from other countries that aren't directly being compared.
- Universality means all countries are compared according to a "common standard".
History
The term "country characteristicity" was introduced by Drechsler in 1975 or 1973 (Script error: No such module "citation/CS1".).[1]Template:Rp
The trade-off is covered in the United Nations International Comparison Project Phase III, published in 1982.[1]Template:Rp
See also
External links
References
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