Experience curve

Experience curve (learning curve) is a decline in the average cost with accumulated production experience.

Definition

According to Marketing Management by Keller and Kotler (15th edition),

Experience curve (learning curve). A decline in the average cost with accumulated production experience.

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Experience curve. Function that measures the decline in cost per unit in various business functions of the value chain, such as manufacturing, marketing, distribution, and so on, as the amount of these activities increases.

According to the Corporate Strategy by Lynch (4th edition),

Experience curve. The relationship between the unit costs of a product and the total units ever produced of that product, plotted in graphical form, with the units being cumulative from the first day of production.