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This is the third of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. Together with the next two chapters, it discusses theoretical matters arising from the finding of S. S. Byushgens (1925) that Irving Fisher's ‘Ideal Index’ is exact if demand is governed by a homogeneous quadratic utility. The four sections of the chapter are: Byushgens's theorem; the existence question; purchasing power correspondence; and many‐period generalization.

This is the last of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. Together with the previous two chapters, it discusses theoretical matters arising from the finding of S. S. Byushgens (1925) that Irving Fisher's ‘Ideal Index’ is exact if demand is governed by a homogeneous quadratic utility. Specifically, it addresses the A. Wald's ‘New Formula’. The four sections of the chapter are: linear expansions; revealed purchasing power; yhe critical points; and marginal price indices and limits.

This is the fourth of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. Together with the previous and next chapters it discusses theoretical matters arising from the finding of S. S. Byushgens (1925) that Irving Fisher's ‘Ideal Index’ is exact if demand is governed by a homogeneous quadratic utility. specifically, it addresses the four‐point formula. the eight sections of the chapter are: median multipliers and levels; centre locus; linear purchasing power; critical locations; elliptical case; hyperbolic case; parabolic limits; and demonstration: Fisher's data.

This is the second of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. It discusses the price index, which is associated with a narrow concept of the cost of living problem, is important for both theory and practice, has a long history and large literature, and is now quite an elaborate theory. An outline of the main ideas is given, touching upon history only where points are encountered directly, and bringing in theorems discursively and without proof; William Fleetwood, Irving Fisher, and S. S. Byushgens stand out from the past in the account, with the writings of J. R. Hicks, R. G. D. Allen and Paul Samuelson forming a background. The ‘true index’ of the chapter title is an early vague term that later acquired the meaning dealt with here. The nine sections are: the cost of living; the price index; formulae, and Fisher's Tests (and Ideal Index); the Paasche–Laspeyres interval; existence test; theory and practice; many periods; price levels; and Fisher's formula.