Term:
Superlative indices
Definition:
Superlative indices are price or quantity indices that are ‘exact’ for a flexible aggregator. A flexible aggregator is a second-order approximation to an arbitrary production, cost, utility or distance function. Exactness implies that a particular index number can be directly derived from a specific flexible aggregator.
Domain:
Economics & National Accounts
Source:
OECD Productivity Manual: A Guide to the Measurement of Industry-Level and Aggregate Productivity Growth, OECD, Paris, March 2001, Annex 1 – Glossary
