The economics of new goods / edited by Timothy F. Bresnahan and Robert J. Gordon.

"This volume contains revised versions of the papers and discussion presented at the Conference on Research in Income and Wealth entitled New Products : history, theory, methodology, and applications, held in Williamsburg, Virginia, on 29-30 April 1994. Conference participants also attended a preconference at the National Bureau of Economic Research in December 1993"--Page [ix].

Includes bibliographical references and indexes.

Do real-output and real-wage measures capture reality? : the history of lighting suggests not / William D. Nordhaus -- Quality adjusted prices for the American automobile industry : 1906-1940 / Daniel M.G. Raff and Manuel Trajtenberg -- The welfare implications of invention / Walter Y. Oi -- Science, health, and household technology : the effect of the Pasteur revolution on consumer demand / Joel Mokyr and Rebecca Stein -- Valuation of new goods under perfect and imperfect competition / Jerry A. Hausman -- Bias in U.S. import prices and demand / Robert C. Feenstra and Clinton R. Shiells --The roles of marketing, product quality, and price competition in the growth and composition of the U.S. antiulcer drug industry / Ernst R. Berndt, et al. -- From superminis to supercomputers : estimating surplus in the computing market / Shane M. Greenstein -- New products and the U.S. consumer price index / Paul B. Armknecht, Walter F. Lane, and Kenneth J. Stewart -- The construction of basic components of cost-of-living indexes / Marshall B. Reinsdorf and Brent R. Moulton -- New goods from the perspective of price index making in Canada and Japan / Andrew Baldwin, et al.

Print version record.

New goods are at the heart of economic progress. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change. The lead article in Part I contains a striking analysis of the history of light over two millenia. Other essays in Part I develop new price indexes for automobiles back to 1906; trace the role of the air conditioner in the development of the American south; and treat the germ theory of disease.

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