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Quality bias

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Title: Quality bias  
Author: World Heritage Encyclopedia
Language: English
Subject: Consumer price index, Consumer theory
Publisher: World Heritage Encyclopedia

Quality bias

Quality bias in price indices occurs when an index ignores changes in the quality of the goods it measures. An example would be enhanced performance of personal computers. Generally speaking, greater and greater speeds and features have become available, without substantial increases in price. Quality bias can cause a consumer price index (CPI) to be overestimated, since a CPI may not completely reflect quality improvements.

Determining quality

Quality bias can work both ways. Faster computers with enhanced performance require greater UL). Engineering standards, such as ASME and ASTM; Automotive, such as ASE and ISO are not effective standards and do not compare with JIS or DIN because it is self-imposed, self-regulated, and self-inspected by the very people it is designed to regulate.

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