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.