| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
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| Título: |
Estimating Future Consumer Welfare Gains from Innovation: The Case of Digital Data Storage
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| Autores: |
Austin, David H.
MacAuley, Molly K.
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| Data: |
2005-10-25
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| Ano: |
2000
|
| Palavras-chave: |
Quality-adjusted cost index
Consumer surplus
Innovation
Research and Development/Tech Change/Emerging Technologies
O32
H43
D60
|
| Resumo: |
We develop a quality-adjusted cost index to estimate expected returns to investments in new technologies. The index addresses the problem of measuring social benefits from innovations in service sector inputs, where real output is not directly observable. We forecast welfare gains from two U.S. Advanced Technology Program innovations equaling 25%-50% of expected price, and aggregate consumer benefits of $1-$2 billion, relative to trends in existing technologies. Our model's probabilistic parameters reflect uncertainty about prospective outcomes and in our hedonic estimates of shadow values for selected product attributes. The index can be readily adopted by research and development (R&D) managers in industry and government.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
|
| Identificador: |
18495
http://purl.umn.edu/10814
|
| Editor: |
AgEcon Search
|
| Relação: |
Resources for the Future>Discussion Papers
Discussion Paper 00-13
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| Formato: |
54
application/pdf
|
