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The Measurement of Technology
Author(s) -
Scott John T.
Publication year - 1964
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1236449
Subject(s) - computer science
Abstract This paper briefly discusses some of the present methods used for the measurement of technology. Shortcomings of the methods discussed are noted with respect to both cross section and time series data. The paper then defines technology and presents a new method for the measurement of technology with the use of set theory. Formulas are presented for calculating indexes of technology and aggregating these indexes over firms in an industry. A hypothetical example is presented to illustrate the method of measurement. Several possible uses of the proposed measurement of technology are suggested in the paper. These include policy models, demand equations, and linear programming.