Production in advance versus production to order
نویسنده
چکیده
In a theoretical framework we compare production-in-advance type and production-to-order type environments. We carry out our analysis in the framework of a symmetric capacity-constrained Bertrand-Edgeworth duopoly game and prove that the equilibrium profits are the same in case of production in advance and production to order. In addition, advance production results in higher prices than production to order if both games have an equilibrium in nondegenerated mixed strategies.
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