The Evolution of Measurement Standards
Swee-Hoon Chuah () and
Robert Hoffmann ()
Occasional Papers from Industrial Economics Division
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.
Keywords: Measurement; metrology; mensuration; path dependence; lock-in; conventions; standardisation (search for similar items in EconPapers)
JEL-codes: C72 D23 N70 O33 (search for similar items in EconPapers)
Pages: 11 pages
New Economics Papers: this item is included in nep-acc, nep-evo, nep-his and nep-ino
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Working Paper: The Evolution of Measurement Standards (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:nub:occpap:6
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