Comparisons and Performance
1. 2. 3. Research and experimental development (OECD, 2002, 30). We consider this an equally good argument against price-based measurements of competitiveness, see later. Really modern and technically demanding analyses of competitiveness have to cover aspects of product quality besides the development of market shares (Pitti, 2002, 15). A good technique for measuring this is offered by the method of hedonic price indexes which helps in correcting price changes with the impacts of technological development and other changes in consumer utility or demand. This method is quite useful in giving a realistic picture of the price trends of the output of the ‘New Economy’. Such products were only seldom discussed in earlier literature, but modern microeconomics treats explicitly such luxury goods whose demand increases or decreases faster than income (Varian, 1999). Literature on the car industry mentions several brands (for example Rolls-Royce, Bentley, Ferrari or larger models of Mercedes and BMW) whose demand could potentially go down if prices were cut. See American examples on this in Scherer (1996, 303). The OECD has made other methodological manuals for S&T analysis available. One of these, the Oslo Manual (Proposed Guidelines for Collecting and Interpreting Technological Innovation Data) will be referred to in this text. The others are listed in the Frascati Manual (OECD, 2002, 16). Some authors consider it only as a by-product of other activities including education, industrial consulting, government-sponsored applied research or technological development. This opinion was markedly represented by one of the pioneers of scientometrics in the...
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