The production recipes approach to modeling technological innovation: An application to learning by doing

DOI10.1016/S0165-1889(98)00091-8MaRDI QIDQ1978480zbMATH OpenOpenAlexFDO

Authors Yanyan Li

Publication date 4 June 2000

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/s0165-1889(98)00091-8

zbMATH Keywords

learning by doingproduction theoryrecipe

Mathematics Subject Classification ID

Rationality and learning in game theory (91A26) Production theory, theory of the firm (91B38)

Review text

We do two things in this paper. First, we put forward some elements of a microeconomic theory of technological evolution. This involves adding nascent (essentially undiscovered) technologies to the existing technologies of neoclassical production theory, and, more importantly, expanding the notion of the production plan to include the recipe -- the complete description of the underlying engineering process. Second, we use the recipes approach in constructing a simple microeconomic model of shop-floor learning by doing. We simulate the dynamics of the model and report the effects of changes in the basic parameters on the resulting engineering experience curves. For correctly chosen values of these parameters, the predictions of the model match the observed experience curves.

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Cited in

(4)

• Optimal investment in learning-curve technologies
• Random walk to innovation: why productivity follows a power law
• The dynamics of innovations and citations
• Production experiences and market structure in R\&D competition

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