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What does it mean for a technology to follow Wright's Law?
Technologies that follow Wright’s Law get cheaper at a consistent rate, as the cumulative production of that technology increases.
This relationship that each doubling in experience leads to the same relative price decline was discovered earlier than Moore’s Law by aerospace engineer Theodore Paul Wright in 1936. In most settings, this is difficult to disentangle empirically, but researchers François Lafond, Diana Greenwald, and Doyne Farmer found an instance where this question can be answered. They lay out in detail what I discussed here: how solar panels decline in price, how demand drives this change, and how we can learn about the future by relying on these insights.
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