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The purpose of this paper is to extend the methodology proposed in Majumder et al. (2012) for the estimation of the item-specific purchasing power parities (PPPs) within countries, to the cross-country context. It estimates item-specific intra-country PPPs (i.e. spatial prices) and inter-country PPPs in a unified framework using unit records of household food expenditures from three Asian countries: India, Indonesia and Vietnam, covering contemporaneous time periods. The study addresses a key limitation of the International Comparison Program (ICP) exercise, namely, that it treats all countries, large and small, as homogeneous entities. Moreover, it directly calculates bilateral PPPs between countries based on their expenditure patterns and prices alone and directly estimates the price-level indices (PLI) and their standard errors, allowing formal tests of the hypothesis of PLI being unity. The usefulness of the estimated PPPs is illustrated by applying them to comparisons of real food expenditures between the three countries, and benchmarking the comparisons with those using the ICP PPPs.

The methodology is based on the fact that a spatial price index can be viewed as a true cost of living index (TCLI). Using a general cost function underlying the Rank 3 quadratic logarithmic systems, the TCLI is calculated for a reference utility level.

The study provides formal statistical tests of the hypothesis of item invariance of the PPPs. The usefulness of the proposed methodology is illustrated by applying the estimated PPPs in comparisons of food expenditures between subgroups in the three countries. The sensitivity of the expenditure comparisons to the use of item-wise PPPs underlines the need to provide price information on highly disaggregated PPPs to a much greater extent than the ICP has done to date.

The choice of these three Asian countries was dictated by the fact that, though comparability of items between them remains an issue as with all cross-country comparisons. Also, in the absence of price data, this study followed the practice in Majumder et al. (2012, 2015a, 2015b) in using as proxies the raw unit values of the food items, but adjusted for quality and demographic factors using the procedure introduced by Cox and Wohlgenant (1986) and extended by Hoang (2009).

It addresses some limitations of the ICP, namely, ICP treats all countries as single entities with the purchasing power of the country’s currency assumed to be the same in all regions within the country, ICP uses the US dollar as the numeraire (this ignores the fact that the PPPs required in bilateral welfare comparisons between developing countries with vastly different consumption habits from the “international norm” are quite different from the ICP PPPs) and ICP uses distribution invariant prices to calculate PPPs, which overlooks the fact that the poor pay different prices from the “representative” individual.

This study highlights the importance of estimating and using item-specific PPPs in cross-country comparisons by formally testing and rejecting the assumption of item invariant PPPs and by providing empirical evidence that they do make a difference to the welfare comparisons between countries. This study provides PPPs based on food items only, which may be more relevant for poverty comparisons.

It introduces, for the first time, the concept of item-specific PPPs between countries as estimable parameters and operationalizes this concept by using them in cross-country welfare comparisons.

The purpose of this paper is to assess the robustness of effects found by Barone et al. that partially comparative pricing enhances consumers' relative price beliefs about its comparatively priced products, but risks adversely affecting these beliefs about the retailer's non‐comparatively priced products.

Research uses an experimental methodology in which the presence or absence of a price comparison is manipulated and the effects on relative price beliefs about non‐comparatively priced products are assessed.

Four studies replicated Barone et al.'s findings that a competitive price comparison enhances consumers' relative price beliefs about comparatively priced products, but did not replicate their findings that these beliefs about the non‐comparatively priced products are affected adversely unless suspicion was induced experimentally. Otherwise, consumer suspicion about the lack of price comparisons, found to be a driver of the adverse effects in Barone et al., did not spontaneously emerge in the current research.

Research examines only university students in a controlled setting devoid of real‐world distractions. Like Barone et al., effects focus on non‐comparatively priced products in categories lacking any price comparison rather than the non‐comparatively priced products residing within the same category as the comparatively priced product. Findings reinforce the value of replication.

The potential risks to retailers of using partially comparative pricing appear far less prevalent than observed previously.

The paper raises questions about the stability of consumer response, particularly those involving consumer suspicion, to pricing tactics.

This research paper aims to examine the relationships among the factors associated with changing shopping environment, consumer knowledge and reference price.

A self administered online survey was used to collect data (final sample size was 265). After checking for non‐response bias, data was factor analyzed and checked for reliability and validity. Hypotheses were tested using structural Equation Modeling procedure.

Product search opportunity is associated with product and price knowledge. Price volatility is negatively associated with internal reference price. Further, consumers' price comparison propensity and price knowledge positively influence external reference price. Finally, price volatility has a significant negative influence on consumer knowledge and IRP orientation.

The sampling frame is a major limitation, in addition to not including variables such as product type and other measures of price volatility. Future research should expand the sampling frame and include other variables as well as other aspects of price volatility.

These findings provide insights into advertised price claims in the information rich internet age. Managers also benefit from the finding that the internet, particularly price comparison, influences external reference price. Consequently, managers must be cautious with their advertised price claims and not exaggerate the value of offerings or cost savings too much.

This topic is important because retailers extensively use reference price or price comparison to increase consumers' perception of the product value. However, not much research attention has been given to this topic.

The purpose of this paper is to estimate that price appreciation for single‐family sales data for the complete population of deed recordings in one metro area using median comparisons is statistically more accurate in capturing local fluctuations than the repeat sale sample approach published by the Federal Housing Finance Agency. The median comparison method becomes the optimal method of choice due to its simplicity and ease in interpretation. The electronic access to court house records means that the complete population of data should be used to extract a community price trend in lieu of samples.

Local deed recordings for residential housing were compared to repeat sale results from the Federal Finance Housing Admin. The goal is to measure housing price appreciation.

Appreciation measured by local deed recordings captures house price variance better than repeat sales taken from mortgage applications.

A median to median comparison with local sales prices should be used in lieu of a national statistic using mortgage applications.

This project provides a more accurate method to assess price appreciation. Repeat sales are not appropriate especially in smaller metro areas.

Every individual and financial institution needs to know the value of its housing asset. The method shown is the best available.

The results have huge implications for the academic community where many regression equations are based on repeat sales.

The theoretical base for cost‐of‐living comparisons between geographical areas is examined and developed. The interpretation of bilateral comparisons is discussed within a framework of a matrix of cost‐of‐living comparisons with all countries being listed in both columns and rows. The use of multilateral comparisons is questioned.

The contribution of this study is both methodological and empirical. It provides a method of estimating preference consistent true cost of living indices and demonstrates the use of unit values (food items), adjusted for quality and demographic effects, as prices. Using NSS data, changes in living standards (measured by per capita real expenditure) in India are examined between 1999/2000 and 2009/2010. The paper aims to discuss these issues.

From the adjusted unit values, “exact” price indices are computed using QAIDS-based preference consistent methods that allow between-item substitution effects and variation across states.

A comparison of the nominal and price deflated real expenditures under alternative temporal price scenario during 1999/2000-2009/2010 shows that the states largely preserve their ranks over the periods, in spite of differential temporal price movement. However, comparison of the nominal and price-deflated real expenditure growth reveals that the rankings are sensitive to the price deflator used.

The results question the wisdom of the treatment of large countries with heterogeneous preferences, e.g. India, as single entities in PPP calculations as in the ICP project. Hence, the results have methodological and empirical implications that extend beyond India.

The study provides evidence on the issue of spatial difference in the temporal movement in prices, where no such evidence exists, and contains the first evidence on living standards in India in the post global financial crisis era. Also, this is the first attempt to base calculation of temporal movement in prices, as measured by the “exact” price indices, on the adjusted unit values of food items.

The purpose of this paper is to review the use of zeroing in the weighted average-to-transaction (W-T) comparison methodology and targeted dumping under the anti-dumping agreement by reviewing the WTO appellate body’s rulings on the use of zeroing in the W-T comparison methodology in the USA – anti-dumping measures on large residential washers from Korea (DS464). Although the appellate body has ruled that the use of zeroing would not be allowed in the weighted-average-to-weighted-average comparison methodology nor in the transaction-to-transaction comparison methodology, it has not ruled on whether the use of zeroing is allowed in the W-T comparison methodology prior to the instant case.

This paper mainly analyzes the WTO appellate body report on the USA – anti-dumping and countervailing measures on large residential washers from Korea’s rulings (DS464) and reviews other WTO appellate body reports on the use of zeroing in anti-dumping measures. This paper reviews the relevant provisions of the WTO anti-dumping agreement and the US Anti-Dumping Act, and also referred prior papers on the use of zeroing.

The appellate body upheld the panel’s finding that the USA’s use of zeroing in the W-T comparison methodology is inconsistent with Article 2.4.2 of the anti-dumping agreement. As zeroing inflates dumping margins, increases the amount of duty collected, and hinders the expansion of trade in goods. The use of zeroing should be prohibited or permitted only in very limited circumstances.

Zeroing, which has been the subject of many WTO disputes between the USA and foreign governments, causes dumped sales to be masked by fair value. The WTO appellate body has consistently condemned the US practice of zeroing over the past decade as an unfair commerce practice. The instant case and this paper will help to stop the practice of zeroing in anti-dumping measures.

The text of Article 2.4.2 does not clearly prohibit the use of zeroing. The paper reviews the WTO appellate body’s rulings on the use of zeroing in the W-T comparison methodology in the USA – anti-dumping measures on large residential washers from Korea (DS464). The appellate body report was very recently circulated, on September 9, 2016. The appellate body has not ruled on whether the use of zeroing is allowed in the W-T comparison methodology prior to the instant case. This paper, first, concludes that the W-T comparison methodology is inconsistent with Article 2.4.2 of the anti-dumping agreement.

This paper aims to compare a median‐to‐median estimate of residential price change to the FHFA home price index composed of repeat sales. Further, it seeks to use the complete population of closed sales. The conceptual issue is the use of a “typical” or average comparison through time as opposed to properties where attributes and their marginal prices are held constant.

The paper uses the total population of closed sales rather than a sample. A time series for median price changes is compared to the FHFA time series. The medians for the complete population are the benchmarks, as the median parameter is the true value.

The study finds that the quarterly FHFA price changes do not capture market movements following a major external shock such as a tropical storm. Further, the FHFA data originate in mortgage applications which are not characteristic of the local market. The conclusion is that a median comparison is better, all deed recordings should be used, and repeat sales are not always a valid tool.

Acquiring the data set of all deed transactions involved a budget which may be available to all analysts.

The practical applications are enormous. The results cast doubts on the FHFA home price index and the Case Shiller index. The paper supports the method used by the National Association of Realtors.

All researchers interested in local real estate markets are concerned about the best method to measure changes in local demand and supply market conditions. This project presents a method to use that is sound conceptually and statistically. The reason is that the goal is to measure changes in the “typical”, or average, property over time.

The literature abounds with repeat sale papers. This paper gives an alternative and avoids the many flaws with paired sales. It should have a wide readership.

Recent years have seen a plethora of media comments about prices in Britain compared to overseas. This “rip‐off Britain” campaign culminated with the two‐year Competition Commission enquiry into supermarket retailing. International price comparisons, however, are not straightforward and there are many difficulties in their undertaking and in reporting such a complicated subject. This paper examines a BBC TV main news report on the night of the publication of the Competition Commission report and illustrates the problems in covering the subject. If we are to really understand pricing in British businesses compared to overseas, then much more sophisticated research and reportage is required.

Library managers are often concerned to assess the most cost effective means of access to bibliographic data. This article considers comparative prices for bibliographic data on CDROM and in print form. In many instances, CDROM offers added value and easier access to data, but the relative cost is important. Library managers need not only to compare prices but to consider cost effectiveness. Differences between the nature of bibliographic data on CDROM and in a printed bibliography or abstracting and indexing service, and the relative complexities of pricing structures for bibliographic data in both CDROM and print form, both hinder comparisons. Varying policies on network pricing are an added complication when assessing a CDROM service. Some standardisation of aspects of the licensing arrangements would be welcome.