Toward an economic theory of customary measurement
提出习惯度量体系的经济理论,认为其形式由实施成本最小化和协调共享标准两个交易成本因素驱动,并用传统度量体系实例支持七个原则,解释了二元模式、十二进制和行业专用度量等特征。
Abstract The article proposes an economic theory of customary measurement systems. The form of such systems is driven by two transaction-cost factors: minimising costs of implementation, and coordinating on shared standards. These factors combine to yield seven principles of customary measurement, supported with illustrative examples from the traditional Anglo-American, Egyptian, Greek, Roman, Chinese, and Indian measurement systems. The theory illuminates various confounding features of such systems, including ubiquitous binary patterns, frequent appearance of duodecimal ratios, and persistence of trade-specific measures.