Seasonality, Cost Shocks, and the Production Smoothing Model of Inventories
نویسندگان
چکیده
منابع مشابه
Inventories, Stock-Outs and Production Smoothing
If stock-outs are ignored and if demand shocks are additive, then optimal behaviour requires that the marginal cost of production (MC) be equated with the expected marginal revenue of increasing expected sales by one unit (EMR). However, with more general demand shocks (and still ignoring stock-outs), the excess of MC over EMR has the same sign as the covariance of the slope of the demand curve...
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ژورنال
عنوان ژورنال: Econometrica
سال: 1988
ISSN: 0012-9682
DOI: 10.2307/1912703