A two-factor learning model for private sector industrial firms

Thomas O. Boucher

Economics of Innovation and New Technology, 2021, vol. 30, issue 1, 66-88

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.

Date: 2021
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DOI: 10.1080/10438599.2019.1680171

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