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hedonic

Stealth Inflation at the Grocery Store: Less Product for the Same Price

Era of “Supertall” Buildings . . . & Packaging People commonly think inflation means paying more for the same amount. But, paying the same price for a smaller amount also qualifies as inflation. In the last year, I’ve noticed everything from cereal to orange juice to Murphy’s Oil(!) being packaged in ever more svelte containers....
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A Tale of Two . . . Chairs

“Hedonics,” Defined After almost 13 years, I finally popped for a new (home) office chair yesterday. The chair I retired — actually, handed down to son #2 — was an ergonomically correct, (then) state-of-the-art job purchased from a Relax the Back store in Manhattan for almost $800 in early 1998. Truth be told, it was...
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