Academic research in this area dates to the mid-1960s, but its application in the measurement of real output gained prominence with the introduction of hedonic price indexes for computers and peripherals by the Bureau of Economic Analysis in 1985.
More recently, the efforts undertaken by statistical agencies have intensified, spurred by the accelerated pace of technological innovation, which has yielded an ever-expanding range of new products and product variants, as well as by the rising share of these goods in our economic value added.