EconPapers    
Economics at your fingertips  
 

Learning by Doing and the Choice of Technology

Boyan Jovanovic () and Yaw Nyarko

Econometrica, 1996, vol. 64, issue 6, 1299-1310

Abstract: In a Bayesian model of learning, the more an agent uses a technology, the better he learns its parameters. This expertise is a form of human capital. Switching to a new technology temporarily reduces expertise: the bigger the leap, the bigger the loss. This may prevent the agent from climbing the technological ladder too fast. Someone skilled may want to stick to his technology and experience no growth in the long run. But someone less skilled may want to switch technologies over and over again and, therefore, enjoy long-run growth in output. Thus, the model can give rise to overtaking. Copyright 1996 by The Econometric Society.

Date: 1996
References: Add references at CitEc
Citations: View citations in EconPapers (223) Track citations by RSS feed

Downloads: (external link)
http://links.jstor.org/sici?sici=0012-9682%2819961 ... O%3B2-Q&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
Working Paper: Learning by Doing and the Choice of Technology (1996)
Working Paper: Learning By Doing and the Choice of Technology (1994) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecm:emetrp:v:64:y:1996:i:6:p:1299-1310

Ordering information: This journal article can be ordered from
https://www.economet ... ordering-back-issues

Access Statistics for this article

Econometrica is currently edited by Guido Imbens

More articles in Econometrica from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2022-01-09
Handle: RePEc:ecm:emetrp:v:64:y:1996:i:6:p:1299-1310