The Evolution of Measurement Standards
AbstractMeasurement 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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Bibliographic InfoPaper provided by Industrial Economics Division in its series Occasional Papers with number 6.
Length: 11 pages
Date of creation: 02 2004
Date of revision:
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Measurement; metrology; mensuration; path dependence; lock-in; conventions; standardisation;
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
This paper has been announced in the following NEP Reports:
- NEP-ACC-2004-11-22 (Accounting & Auditing)
- NEP-ALL-2004-11-22 (All new papers)
- NEP-EVO-2004-11-22 (Evolutionary Economics)
- NEP-HIS-2004-11-22 (Business, Economic & Financial History)
- NEP-INO-2004-11-22 (Innovation)
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