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A two-factor learning model for private sector industrial firms

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  • Thomas O. Boucher

Abstract

The Cobb–Douglas form of the two-factor learning curve model has been the conventional choice in empirical studies of the relative importance of R&D versus capacity expansion for cost reduction in energy technologies. Most empirical studies have focused on the role of public R&D in the context of renewable energy technologies. In this study, we provide a rationale for considering a different model formulation of the tradeoff between R&D and production capacity expansion when studying technology development in the private sector and we compare it to the conventional Cobb–Douglas model. We then apply our model formulation to a particular emerging technology case study.

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  • Thomas O. Boucher, 2021. "A two-factor learning model for private sector industrial firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 30(1), pages 66-88, January.
    • Handle: RePEc:taf:ecinnt:v:30:y:2021:i:1:p:66-88
    DOI: 10.1080/10438599.2019.1680171
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