Hedonisch one calls an evaluation method, which judges an object by its intrinsischen (inside) and extrinsischen (outside) values. The word is derived from from the Greek coming English word hedonic ("desire").

Sometimes the hedonische price calculation is applied with economical statistics and to real estates. In the USA (since the 1990er), Great Britain, Australia and New Zealand the inflation and the economic growth are hedonisch computed. Thus one tries to quantify the quality increases from products to. This leads higher growth numbers to lower inflation rates and depending upon country and industry too estimated up to 30%. Bad tongues mean, because of this growth "improvement" would have been at all only introduced the hedonische price calculation, which is connected with some cost of computation nevertheless. Only times if some countries could improve so their growth rates, the pressure rose to other countries to follow, did not want to stand there it not statistically than being awake around tail lights.

In the USA the introduction of the hedonischen price calculation was demanded also by the boss at that time of the US central bank Alan Greenspan. Because over key interests and money supply the inflation is affected, rather the key interests can be lowered with lower inflation, as well as the money supply by the central bank to be increased. The growth of the money supply orients itself apart from the inflation also at the increased economic growth. In addition it comes that in the USA social achievements are often adapted with the inflation rate. Also the wage policy depends on the inflation rate.

During the hedonischen price calculation a property is divided mental (subjectively) into quality characteristics and determined then with the help of the regression analysis in such a way specified the influence of these quality criteria on the price. Thus those price adjustments, which are based only on qualitative changes of certain characteristics, can do from which pure are computationally separated and eliminated.

Example: The processor speed of computers - here above all hedonische procedures are used - increased in the year 2005 by improved techniques from 2,000 MHz to 3,000 MHz. In the annual average the CCU prices remained however constant. Here the statisticians count as follows: The increase of the clock frequency from 2,000 MHz to 3,000 MHz with the processors represents a quality improvement by 50 per cent. Thus the prices for CCUs fall with consideration of the quality improvement in the process of the yearly 2005 in the consumer price statistics around a third. With growth and productivity numbers this procedure is turned around. If the processors in the yearly process became faster around 50 per cent with same prices, then can be proceeded with the determination of the value not from the material prices, but this value is to be corrected according to the quality improvement around 50 per cent upward. Although there were no statistically relevant changes thus in the yearly process, the consumer price statistics in our example of processors calls a decline in prices of a third (inflation reduction) and growth proves 50 per cent more than the material numbers.

Similarly the other computer components enter computation of the total computer price. To be e.g. quantified with new functions as TFT screen instead of tube monitor the qualitative screen sharpness gain tried. Whether a qualitative progress is present is always subjective estimation decision of the statistician.

The hedonische price calculation is used also for computation by real estates. The price of the object determined on the basis its physical characteristics such as size, condition, developing and pool of broadcasting corporations as well as the environment, above all their recreation value and infrastructure (in particular: public means of transport, schools and purchase possibilities).

Note: The adjective comes from the term Hedonismus, striving for sense desire and benefit, has however in this interpretation hardly somewhat with this together. (By the hedonische Preisbestimmung is as it were the rising desire gain, which accompanies with quality improvements, to be seized and by the measured price increase in departure be brought.)

The Federal Statistical Office always tried to consider qualitative changes with the determination of changes of the price level. Via hedonische procedures takes place this however in the meantime more systematically. A certain arbitrariness results from the fact that only with some few products in Germany hedonische price measurement takes place. In addition, because it is always a subjective decision whether a qualitative improvement is present. Strictly taken one would have to consider also which however the case is practically never. For instance if delays take to and in the motor traffic of Verkehrsstaus in the Eisenbahnverkehr, this is not booked anywhere as of the appropriate goods or services with the accordingly inflation rate-increasing and growth rate-reducing effects.

Related links

• Composition of growth in the USA
• Hedoni quality clearing in the price statistics
• Explanation hedonisch
• The illusions of the hedonischen method
• Prosperity by record keeping

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