Measuring the Impact of Free Goods on Real Household Consumption
We suggest a methodology that allows statistical agencies to form approximations to the benefits that flow to households from new free goods. The present production-oriented GDP measures are not satisfactory for measuring real household consumption and will be increasingly inaccurate as free goods,...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association
2021
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| Online Access: | https://hdl.handle.net/1721.1/137460 |
| _version_ | 1811089740806488064 |
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| author | Brynjolfsson, Erik Collis, Avinash Diewert, W. Erwin Eggers, Felix Fox, Kevin J. |
| author_facet | Brynjolfsson, Erik Collis, Avinash Diewert, W. Erwin Eggers, Felix Fox, Kevin J. |
| author_sort | Brynjolfsson, Erik |
| collection | MIT |
| description | We suggest a methodology that allows statistical agencies to form approximations to the benefits that flow to households from new free goods. The present production-oriented GDP measures are not satisfactory for measuring real household consumption and will be increasingly inaccurate as free goods, such as those made possible by the digital revolution, become more important. Advertising expenditures are not an adequate substitute for measuring the benefits of new goods to the household sector. Instead, we need to draw on estimates such as those provided by choice experiments. |
| first_indexed | 2024-09-23T14:23:38Z |
| format | Article |
| id | mit-1721.1/137460 |
| institution | Massachusetts Institute of Technology |
| language | English |
| last_indexed | 2024-09-23T14:23:38Z |
| publishDate | 2021 |
| publisher | American Economic Association |
| record_format | dspace |
| spelling | mit-1721.1/1374602021-11-06T03:13:18Z Measuring the Impact of Free Goods on Real Household Consumption Brynjolfsson, Erik Collis, Avinash Diewert, W. Erwin Eggers, Felix Fox, Kevin J. We suggest a methodology that allows statistical agencies to form approximations to the benefits that flow to households from new free goods. The present production-oriented GDP measures are not satisfactory for measuring real household consumption and will be increasingly inaccurate as free goods, such as those made possible by the digital revolution, become more important. Advertising expenditures are not an adequate substitute for measuring the benefits of new goods to the household sector. Instead, we need to draw on estimates such as those provided by choice experiments. 2021-11-05T13:54:56Z 2021-11-05T13:54:56Z 2020-05 2021-03-22T18:47:07Z Article http://purl.org/eprint/type/JournalArticle 2574-0768 2574-0776 https://hdl.handle.net/1721.1/137460 Brynjolfsson, Erik, Collis, Avinash, Diewert, W. Erwin, Eggers, Felix and Fox, Kevin J. 2020. "Measuring the Impact of Free Goods on Real Household Consumption." American Economic Association Papers and Proceedings, 110. en 10.1257/pandp.20201054 American Economic Association Papers and Proceedings Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. application/pdf American Economic Association American Economic Association |
| spellingShingle | Brynjolfsson, Erik Collis, Avinash Diewert, W. Erwin Eggers, Felix Fox, Kevin J. Measuring the Impact of Free Goods on Real Household Consumption |
| title | Measuring the Impact of Free Goods on Real Household Consumption |
| title_full | Measuring the Impact of Free Goods on Real Household Consumption |
| title_fullStr | Measuring the Impact of Free Goods on Real Household Consumption |
| title_full_unstemmed | Measuring the Impact of Free Goods on Real Household Consumption |
| title_short | Measuring the Impact of Free Goods on Real Household Consumption |
| title_sort | measuring the impact of free goods on real household consumption |
| url | https://hdl.handle.net/1721.1/137460 |
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