The first contribution of this study is to identify the economic growth patterns of the emerging knowledge-based society of the future, compared to the agricultural society or the industrial society, by analyzing the aspects of future technologies and new humankind and their effects on the value...

The concept of production efficiency has been studied since the 1960s, but consumption activity as well may be inefficient for various reasons, such as product complexity, lack of information, the bounded rationality of the consumer and imperfect markets, to name a few. This study proposes a...

In this study we propose a mathematical definition of the consumption efficiency of multi-attribute products in the price–quality space. A new model, the discrete Range Adjusted Measure (RAM) model, is suggested as an empirical tool to measure the level of consumption efficiency. We further...