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The Evolution of Measurement Standards

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Measurement activities are central to virtually all technical activities including engineering, construction and scientific research. In addition, the standardisation of measurement can generate considerable economies in production and exchange interactions between economic agents. This paper discusses the evolution of measurement standards from the perspective of both evolutionary game theory and transaction costs economics. The paper identifies the factors which influence the contribution that measurement standardisation can make to economic welfare.

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File URL: http://www.nottingham.ac.uk/%7Elizecon/RePEc/pdf/measurement.pdf
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Bibliographic Info

Paper provided by Industrial Economics Division in its series Occasional Papers with number 6.

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Length: 11 pages
Date of creation: 02 2004
Date of revision:
Handle: RePEc:nub:occpap:6

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Keywords: Measurement; metrology; mensuration; path dependence; lock-in; conventions; standardisation;

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