The Learning Curve and Competition
This article develops a model of competitive interaction and industry evolution in the presence of a learning curve. The learning curve is a function relating the unit costs of the individual firm to accumulated volume. The responses of the model to shifts in parameters are explored through calculated examples. The paper also used a two-period model to explore differences between open and closed-loop equilibria, and to assess the impact of learning spillover effects from one firm to the next.
Year of publication: |
1981
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Authors: | Spence, A. M. |
Published in: |
Bell Journal of Economics. - The RAND Corporation, ISSN 0361-915X. - Vol. 12.1981, 1, p. 49-70
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Publisher: |
The RAND Corporation |
Saved in:
Online Resource
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