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Human potential: How knowledge can be measured

Author

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  • Hans-Diedrich Kreft

    (VisionPatents AG)

Abstract

A measurement value for knowledge is introduced on the basis of mathematics. This measurement value expands the potential for economic analysis, reveals new interconnections, and defines familiar economic characteristics in mathematical terms. As an example, a mathematical formula for the competence of a company is derived here in an illustrative fashion and the relation-ships between growth in turnover, stability and effectivity are shown. In conclusion a number of interpretative comments are made on the significance of the approach for future economic theory.

Suggested Citation

  • Hans-Diedrich Kreft, 2004. "Human potential: How knowledge can be measured," GE, Growth, Math methods 0407001, EconWPA.
  • Handle: RePEc:wpa:wuwpge:0407001
    Note: Type of Document - pdf; pages: 17. A mathematical method for deriving a measure of knowledge is developed
    as

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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/ge/papers/0407/0407001.pdf
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    More about this item

    Keywords

    Measure of knowledge; bit of knowledge; competence; human potential; stability; unemployment and knowledge;

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D9 - Microeconomics - - Micro-Based Behavioral Economics

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