Learning curves: What does it mean for a technology to follow Wright’s Law?
Technologies that follow Wright’s Law get cheaper at a consistent rate, as the cumulative production of that technology increases.Technologies that follow Wright’s Law get cheaper at a consistent rate, as the cumulative production of that technology increases.The best way to explain what this means is to look at a concrete example.Solar technology: an example of a technology that follows Wright’s LawThe time series in the chart shows the deployment of solar panels on the horizontal axis and the ...
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