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| Author: | Dorroh, J. Gulledge, T. Womer, N. |
| Title: | Investment in knowledge: a generalization of learning by experience |
| Journal: | Management Science
1994 : AUG, VOL. 40:8, p. 947-958 |
| Index terms: | LEARNING PLANNING MODELS OPTIMIZATION |
| Language: | eng |
| Abstract: | Learning is often perceived as a cost-reducing endogenous by-product of production processes. In many applications this by-product is modeled as a learning curve; that is, a simple function of time or of cumulative production experience. The authors' model explains resource and output behaviour for a firm that is producing specialized units to contractual order. However, the results are quite general and have implications for investment in research, engineering, science and technology, software development, and worker training. |
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