Research and Development, Testing, and the Economics of Information, 1937-63
Bibliographic Data
| ID | 5014869 |
|---|---|
| Authors | William Thomas (0000-0001-6969-3173, corresponding author) |
| Year | 2020 |
| Volume | 52 |
| Issue | S1 |
| Pages | 168-190 |
| Publication date | 2020-12-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | History of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0018-2702 • E-ISSN: 1527-1919 |
| Publisher | Duke University Press (PUBLISHER • US) |
| DOI | 10.1215/00182702-8717977 |
| OpenAlex | W3083474586 |
| Language | EN |
| Citations received | 1 |
| References cited | 19 |
American mathematicians' contributions to the engineering and production of equipment in World War II included the exploration of ways to improve choices between competing designs and maximize the value of experimental testing of prototypes. After the war, these contributions were extended, particularly at the RAND Corporation. Working on such matters, Kenneth Arrow took a keen interest in testing as a paradigm for information gathering in economic decision-making and in encouraging investment in R&D as an information-gathering exercise essential to making informed choices in military systems acquisition. He later extended insights about the shortcomings of information gathering as a market activity to his touchstone analysis of disparities of information between physician and patient as a crucial aspect of the economics of medical care. While it is difficult to trace the precise influence of the work of Arrow and others around him on engineering and R&D management, the issues they grappled with have remained relevant for more than half a century
Arrow · Corporation · Economics · Investment (military · Management · Political science · Rand corporation · TRACE (psycholinguistics) · Value (mathematics · Work (physics · Computer Science · Engineering · Finance · Law · Medical History and Innovations · Research, Science, and Academia · Twentieth Century Scientific Developments
Economic analysis of law
Uncertainty and the Welfare Economics of Medical Care
How Reason Almost Lost Its Mind
Age of System
The Closed World
The Knowledge We Have Lost in Information
Economic Welfare and the Allocation of Resources for Invention
The Economic Implications of Learning by Doing
An Engine, Not a Camera
Analysis for Military Decisions
Creating Increasing Returns
From Theories of Human Behavior to Rules of Rational Choice
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,25 |
| Citation span | 2022 - 2022 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |