The Iron Bowl is the annual (American) football game between the University of Alabama and Auburn University. When I was in college, one of my… Read More »The Neoclassical Supply Curve, the Iron Bowl, and Reality
In my last post, I noted the apparent contradiction between supply curves and learning curves. Both display a relationship between cost/price and quantity, but one… Read More »Learning Curves and Rate Curves – Which One Represents Supply?
I recently taught a training class on learning curve theory, which is a basic cost estimating concept for production. Engineers working on aircraft manufacturing in… Read More »Do Learning Curves Offer Potential New Insights into Economic Theory?