Forecasting by learning methods: The gross domestic product, total energy consumption and petroleum consumption of the United States.

Abstract

This study generalizes the applications of learning curve theory. It extends the simple power learning model in two ways: (1) by extending the model to include other sift variables, the extensive learning model; (2) by generalizing the functional relationship to give greater flexibility in modelling the learning curve, the translog learning model. Through empirical analyses of gross domestic product, total energy consumption, petroleum consumption, and petroleum products consumption, different learning curve models are explored and compared.