Difference between revisions of "Characteristicity versus universality trade-off"
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Revision as of 03:00, 12 November 2017
In the context of PPP calculation, the characteristicity versus universality trade-off refers to the trade-off between maintaining characteristicity of binary comparisons and the universality of multilateral comparisons. Here:
- Characteristicity means
- Universality means
The term "country characteristicity" was introduced by Drechsler in 1975.:73
The trade-off is covered in the United Nations International Comparison Project Phase III.:101
- Kravis, Irving B.; Heston, Alan; Summers, Robert (1982). "World Product and Income: International Comparisons of Real Gross Product (United Nations International Comparison Project Phase III)" (PDF). Johns Hopkins University Press. Retrieved November 5, 2017.