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The Evolution of Measurement Standards

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Abstract

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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  • Swee Hoon Chuah & Robert Hoffmann, 2004. "The Evolution of Measurement Standards," Occasional Papers 5, Nottingham University Business School.
  • Handle: RePEc:nom:occasi:5
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    Keywords

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

    JEL classification:

    • 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, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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