(3.) The experience curve
is a broader version of the learning curve.
While the volume-cost relationships implied by the experience curve
have been documented for some industries, particularly commodity-type products, their general applicability has not been substantiated.
It may also have to offer a standardized product to the global marketplace in order to ride down the experience curve
as quickly as possible.
Cost trends in hardware industries usually follow an "experience curve
" instead of a simple time trend.
International Energy Agency (2000): "Experience curves
for energy technology policy," Paris.
Hence it will be fine to incorporate learning or experience curves
in a subsequent research.
(a.) "Experience curves
" and "manufacturing progress functions" are related to learning curves.
It will also be a period of enormous foundation-learning where business models will be refined, infrastructure will be created, experience curves
will be scaled and consumer expectations will be shaped.
Drawing on the logic of learning curves, they argued that industries as a whole faced "experience curves
," costs and prices that fell by predictable amounts as industries grew and their total production increased.
Such individual experiences are confirmed statistically in the learning or experience curves
used in operations research.