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But eventually the Libyans sought a more efficient technology, the P-2, made of maraging steel, a superhard alloy.
The McKinsey report does include the estimated value of the social benefits of using a more efficient technology, like time saved.
Firms might not launch a next generation product as soon as a more efficient technology or a better product design is ready.
Later it plans to shift to thin film cells, which Paik says is a more efficient technology because it uses less silicon (or none at all) and can be more easily integrated into buildings.
Even if a decentralized public ledger were a more efficient technology for conducting financial transactions, and for providing a platform for distributed innovation, deficiencies in its incentive and governance systems could make it overall inferior to alternatives, including existing systems.
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That means that demand for a less expensive, more efficient technology should be robust.
We study the design of an economic incentive based program – a subsidy – to induce adoption of more efficient technology in a pollution reduction program in southern Chile.
-- "Governments come and go:" ExxonMobil will launch a program to reduce its methane emissions by updating its equipment with more efficient technology and leak-detection sensors.
Since then, they have introduced more efficient technology (double cyclone flash dryers).
Natural resource consumption has increased considerably in the past 200 years despite more efficient technology advancements.
But it is working on more efficient technology for the rockets, including reusability.
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