A Technology Roadmap for Intangible Assets Metrology

Abstract

AbstractMeasurement plays a vital role in the creation of markets, one that hinges on efficiencies gained via universal availability of precise and accurate information on product quantity and quality. Fulfilling the potential of these ideals requires close attention to measurement and the role of technology in science and the economy. The practical value of a strong theory of instrument calibration and metrological traceability stems from the capacity to mediate relationships in ways that align, coordinate, and integrate different firms’ expectations, investments, and capital budgeting decisions over the long term. Improvements in the measurement of reading ability exhibit patterns analogous to Moore’s Law, which has guided expectations in the micro-processor industry for almost 50 years. The state of the art in reading measurement serves as a model for generalizing the mediating role of instruments in making markets for other forms of intangible assets. These remarks provide only a preliminary sketch of the kinds of information that are both available and needed for making more efficient markets for human, social, and natural capital. Nevertheless, these initial steps project new horizons in the arts and sciences of measuring and managing intangible assets.