Wright's law

E843616

Wright's law is an economic principle stating that the cost of producing a technology decreases by a constant percentage each time cumulative production doubles, due to learning and efficiency gains.

All labels observed (3)

Label Occurrences
Wright's law canonical 1
experience curve law 1
learning curve law 1

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf economic principle ⓘ
experience curve concept ⓘ
learning curve theory ⓘ
alsoKnownAs experience curve law ⓘ
linked to: Wright's law

learning curve law ⓘ
linked to: Wright's law

progress function ⓘ
appliesTo aerospace manufacturing ⓘ
automotive manufacturing ⓘ
consumer electronics ⓘ
energy technologies ⓘ
manufacturing industries ⓘ
semiconductor manufacturing ⓘ
technology production ⓘ
assumes cost reductions arise from accumulated experience ⓘ
learning effects are persistent over time ⓘ
coreIdea unit cost declines by a constant percentage when cumulative production doubles ⓘ
describes cost reductions from learning and experience ⓘ
learning effects in manufacturing ⓘ
relationship between cumulative production and production cost ⓘ
field economics ⓘ
industrial organization ⓘ
technology economics ⓘ
firstFormulatedBy Theodore Paul Wright ⓘ
hasKeyConcept cost decline ⓘ
cumulative production ⓘ
doubling of output ⓘ
economies of learning ⓘ
experience curve ⓘ
learning rate ⓘ
organizational learning ⓘ
process improvements ⓘ
scale-related efficiency gains ⓘ
worker learning ⓘ
implies cost reductions are predictable from cumulative output ⓘ
early production experience has long-term cost effects ⓘ
mathematicalForm power law relationship between cost and cumulative production ⓘ
namedAfter Theodore Paul Wright ⓘ
originatedIn aerospace industry studies ⓘ
relatedTo Moore's law ⓘ
economies of scale ⓘ
endogenous technical change ⓘ
experience curve ⓘ
learning curve ⓘ
timePeriod 1930s ⓘ
usedFor investment analysis in new technologies ⓘ
learning curve analysis ⓘ
policy analysis for technology deployment ⓘ
strategic production planning ⓘ
technology cost forecasting ⓘ

How these facts were elicited

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

Theodore Paul Wright → knownFor → Wright's law ⓘ
Wright's law → alsoKnownAs → learning curve law ⓘ
linked to: Wright's law
Wright's law → alsoKnownAs → experience curve law ⓘ
linked to: Wright's law