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Alternative technology indexes in the offshore oil and gas industry


  • Shunsuke Managi
  • James Opaluch
  • Di Jin
  • Thomas Grigalunas


R&D policies play an important role for developing technologies. Alternative technology indexes are tested to provide an improved understanding of technology index in the offshore oil and gas industry. The analysis compares ten alternative technology indexes including technology diffusion counts, importance-weighted diffusion, innovation counts, importance-weighted innovation, patent counts, importance-weighted patent counts, and a simple measure of time. It is found that utilizing weighted diffusion count as an index of technology is clearly superior to all other indexes. The results also show the time as an index of technology is clearly inferior to most other indexes.

Suggested Citation

  • Shunsuke Managi & James Opaluch & Di Jin & Thomas Grigalunas, 2006. "Alternative technology indexes in the offshore oil and gas industry," Applied Economics Letters, Taylor & Francis Journals, vol. 13(10), pages 659-663.
  • Handle: RePEc:taf:apeclt:v:13:y:2006:i:10:p:659-663 DOI: 10.1080/13504850500401866

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    References listed on IDEAS

    1. Hall, Bronwyn H. & Jaffee, Adam & Trajtenberg, Manuel, 2000. "Market Value and Patent Citations: A First Look," Department of Economics, Working Paper Series qt1rh8k6z2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    2. Managi, Shunsuke & Opaluch, James J. & Jin, Di & Grigalunas, Thomas A., 2004. "Technological change and depletion in offshore oil and gas," Journal of Environmental Economics and Management, Elsevier, vol. 47(2), pages 388-409, March.
    3. Jean O. Lanjouw & Mark Schankerman, 1999. "The Quality of Ideas: Measuring Innovation with Multiple Indicators," NBER Working Papers 7345, National Bureau of Economic Research, Inc.
    4. Shunsuke Managi & David Karemera, 2004. "Input and output biased technological change in US agriculture," Applied Economics Letters, Taylor & Francis Journals, vol. 11(5), pages 283-286.
    5. Shunsuke Managi & SJames J. Opaluch & Di Jin & Thomas A. Grigalunas, 2005. "Environmental Regulations and Technological Change in the Offshore Oil and Gas Industry," Land Economics, University of Wisconsin Press, vol. 81(2).
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