Measurement in economics

In this monograph the author has discussed certain aspects of the pro blem of measurement of economic magnitudes and relations which have not received adequate attention from econometricians and economic statisti cians. While the second and the third lectures deal with the problems of relation between aggregative measure ments and micro-theory in connection with the special cases of production functions and demand functions, the first lecture points out the essentially heterogeneous character of economic objects of measurement and the essen tially index number character of every measurement in economics which gives rise to a type of uncertainty in the results of measurement which cannot be treated in terms of the calculus of probability. The book is meant for the research worker in the field of econo metrics and economic statistics, but post-graduate students of these sub jects may also find it useful.