Formation of comparable prices for innovative products for the period of their life cycle
Formation of comparable prices for innovative products for the period of their life cycle

Summary/Abstract: The paper considers the issue of comparing the prices for different years and reviews the methods of their comparison. Valuation of products at comparable prices ensures the comparability of data over a number of years. But the issue arises if the task is to compare the prices of goods for the period during which the national currency of the country of origin changed more than once during this period. The paper proposes a formula developed by the authors to compare the prices of different years and bring them to modern ones. The formula takes into account the devaluation of the dollar and resolves the considered issues. The paper also presents the practical use of the recommended formula on the example of comparing the prices for the entire life cycle of an electric motor for the time period of 1982-2019.

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