Alternative technology indexes in the offshore oil and gas industry

Authors: Managi, Shunsuke¹; Opaluch, James J.²; Jin, Di³; Grigalunas, Thomas A.²

Source: Applied Economics Letters, Volume 13, Number 10, 15 August 2006 , pp. 659-663(5)

Publisher: Routledge, part of the Taylor & Francis Group

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Abstract:

R&D policies play an important role for developing technologies. Alternative technology indexes are tested to provide an improved understanding of technology index in the offshore oil and gas industry. The analysis compares ten alternative technology indexes including technology diffusion counts, importance-weighted diffusion, innovation counts, importance-weighted innovation, patent counts, importance-weighted patent counts, and a simple measure of time. It is found that utilizing weighted diffusion count as an index of technology is clearly superior to all other indexes. The results also show the time as an index of technology is clearly inferior to most other indexes.

Document Type: Research article

DOI: http://dx.doi.org/10.1080/13504850500401866

Affiliations: 1: Faculty of Business Administration, Yokohama National University, 79-4, Tokiwadai, Hodogaya-ku, Yokohama 240-8501, Japan 2: Department of Environmental and Natural Resource Economics, University of Rhode Island, Kingston, Rhode Island 02881, USA 3: Marine Policy Center, Woods Hole Oceanographic Institution, Woods Hole, Massachusetts 02543, USA

Publication date: 2006-08-15

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