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Sampling schemes for price index construction: a performance comparison across the classification of individual consumption by purpose food groups

Heravi, Saeed and Morgan, Peter Huw 2014. Sampling schemes for price index construction: a performance comparison across the classification of individual consumption by purpose food groups. Journal of Applied Statistics 41 (7) , pp. 1453-1470. 10.1080/02664763.2014.881466

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Abstract

Five sampling schemes (SS) for price index construction – one cut-off sampling technique and four probability-proportional-to-size (pps) methods – are evaluated by comparing their performance on a homescan market research data set across 21 months for each of the 13 classification of individual consumption by purpose (COICOP) food groups. Classifications are derived for each of the food groups and the population index value is used as a reference to derive performance error measures, such as root mean squared error, bias and standard deviation for each food type. Repeated samples are taken for each of the pps schemes and the resulting performance error measures analysed using regression of three of the pps schemes to assess the overall effect of SS and COICOP group whilst controlling for sample size, month and population index value. Cut-off sampling appears to perform less well than pps methods and multistage pps seems to have no advantage over its single-stage counterpart. The jackknife resampling technique is also explored as a means of estimating the standard error of the index and compared with the actual results from repeated sampling.

Item Type: Article
Date Type: Published Online
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HF Commerce
Uncontrolled Keywords: sampling, pps, jackknife, price indices, repeated
Additional Information: Pdf uploaded in accordance with publisher's policy at http://www.sherpa.ac.uk/romeo/issn/0266-4763/ (accessed 9.1.15).
Publisher: Taylor & Francis
ISSN: 0266-4763
Date of First Compliant Deposit: 30 March 2016
Date of Acceptance: 6 January 2014
Last Modified: 27 Feb 2019 14:24
URI: http://orca.cf.ac.uk/id/eprint/67390

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Cited 1 time in Scopus. View in Scopus. Powered By Scopus® Data

Cited 2 times in Web of Science. View in Web of Science.

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