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| Author: | Ayres, R. U. |
| Title: | Technological progress: A proposed measure |
| Journal: | Technological Forecasting and Social Change
1998 : NOV, VOL. 59:3, p. 213-233 |
| Index terms: | TECHNOLOGICAL CHANGE DEVELOPMENT MEASUREMENT |
| Freeterms: | TECHNOLGOCIAL PROGRESS |
| Language: | eng |
| Abstract: | This paper suggests a direct measure of technological progress which can be quantified with reasonable confidence on the basis of historical data. The proposed measure is the efficiency with which resources are converted into final services. It decomposes into two components: thermodynamic efficiency of converting an energy source into mechanical work and the efficiency with which mechanical work is used to produce the services. The proposed measure suggests a way to construct an economic production function that explicitly reflects technological change, rather than treating "technological progress" as an unexplained residual. |
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