Abstract
new energy technologies. Arguiments are offeered that in the earl/v das of comrinercialization significant learning externalities that juistify sutbsidy are present. Using nutclear power as a case studv, this article estimates the learning effects actutall/ present. The efect Qf experience on construction cost and on the accursacv Qf cost estimation is exainined. External learning is separated firom internalized learning about both construction cost and cost estiniation. Finall/' an estimate of the value of both kinids of learning externality is provided. The resullts suiggest learning externalities were present, butt had little effect oni the rate of commercialization.
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