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The Learning Curve and Optimal Production Under Uncertainty

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NBER1987-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2423
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This paper examines the implications of the learning curve in a world of uncertainty. We consider a competitive firm whose costs decline with cumulative output. Because the price of the firm's output evolves stochastically, future production and cumulative output are unknown, and are contingent on
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1987-10-01
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