Learning by Doing with Constrained Growth Rates: An Application to Energy Technology Policy

Karsten Neuhoff

The Energy Journal, 2008, vol. 29, issue 2_suppl, 165-183

Abstract: Learning by doing methodology attributes cost reductions of a technology to cumulative investment and experience. This paper argues that in addition market growth rates must also be considered. Historically growth rates have been limited in most sectors, thus allowing for feedback in the learning process. When market growth is below the ‘optimal’ rate, the marginal value of additional investment could be a multiple of the direct learning benefit. Analytic and numeric models quantify this impact - emphasizing the need for tailored technology policy in addition to carbon pricing. Implications for the modeling of endogenous technological change are discussed. Isoard, S. and A. Soria (1997).“Learning curves and returns to scale dynamics: Evidence from the emerging renewable energy technologies.†IPTS Working Paper Series 97/05.

Keywords: Learning by doing; Market growth; Technology policy; Carbon pricing; Endogenous technological change (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:29:y:2008:i:2_suppl:p:165-183

DOI: 10.5547/ISSN0195-6574-EJ-Vol29-NoSI2-9

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