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A 2016 EPA paper called “Cost Reduction through Learning in Manufacturing Industries and the Manufacture of Mobile Sources” estimated automobile learning curves at 84% to 88%. Some think “steep learning curves” are a bad thing. Used in their first sense, i.e., how quickly someone learns, it’s the opposite. Learning or experience curves measure time reductions […]
In countless games, the parameters, once set, never vary. There are only a given number of spaces on the chessboard. American football always uses an elliptical spheroid built to strict specifications. All NBA basketball rims are the same diameter, ten feet in the air. Markets seem different. They don’t have instruction manuals. At first glance, […]
In October 1982, the US government charged John DeLorean with cocaine trafficking in a deal he thought would stave off bankruptcy for his self-named company. How did it all go wrong? His DeLorean Motor Company sports car (A) came with several sales features. It had a rear-mounted engine, brushed stainless steel body panels, and its […]
You can’t always get what you want… Finding data can be hard. Say you needed to model demand for Japanese bullet train travel, or the London to Paris run. Ideally, both firms would post these figures, and you could reduce that to insight. While you can locate that information for NYC cab data (see one […]
“I knew I was going to take the wrong train, so I left early.” Yogi Berra So, what’s the right train? Specifically, what are the most appropriate specifications for new trains we need to move people about here in the United States? Happily, the world already has some blueprints for success. With over 50 years […]
Helicopters are highly versatile machines able to take off and land in tiny areas. They’re perfect for landing on buildings in dense urban areas. But since they beat the air to death with thunderous rotors turned by noisy jet fuel turboshaft engines, they’ve been banned from many a city. What to do? Let’s go electric. […]
Inventors need manufacturers who require operators. The fate of each depends largely on the others. If just one player fails, an entire enterprise could sink; this is economic entanglement. Such arrangements are highly intermeshed. Revenue to the inventor, 2, is a cost to the manufacturer, who pays license, technical development, and royalty fees to gain […]
In Multidimensional Economics, Value is a sustainable product price based on its features. Producers set Prices. Customers determine Value. When they don’t match, problems arise. Buyers pay no mind to cost when considering Value. If you paid $1000 for a laptop, you don’t care if its cost was $1900, $900, or $90. You just know […]
You’d think that NFL salaries would be performance-based. But, those predictions for running backs seldom exceed R2s of 60%. Happily, fantasy football gets it right. In A and B, we predict the value for two NFL running backs. If we take a database of 84 of them and filter out those with no catches or […]
Suppliers make products and see what markets will bear for them. That’s precisely backward. Instead, we can solve for profit potential first and discover product specifications second. Suppose a market has products for which there are particular quantities, and prices demanded, as shown by the red dots. We want to avoid competition, so we choose […]