Theory of Complex Work

Work in general, and the learning curve in particular, are typically modelled with the power law, y(x) = a xb. This model provides little insight into the causes of the dynamics of the labor hours associated with work. A stochastic model with links to information is proposed. It is implemented as a...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Author Larsen, Harry
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.2022
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Summary:Work in general, and the learning curve in particular, are typically modelled with the power law, y(x) = a xb. This model provides little insight into the causes of the dynamics of the labor hours associated with work. A stochastic model with links to information is proposed. It is implemented as a Monte Carlo system, producing probability density functions, thus deriving labor cost uncertainty as intrinsic to the performance of work itself. The paper demonstrates a time domain application of the model in a factory setting with feedback interactions between work elements.