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| Author: | Lai, K. S. Pauly, P. |
| Title: | Production lags and price behaviour |
| Journal: | Economica
1992 : FEB, VOL. 59:233, p.53-62 |
| Index terms: | PRODUCTION SCHEDULING PRICES TIME TASK PERFORMANCE OUTPUT |
| Language: | eng |
| Abstract: | The effects of the production lag on the firm's decisions are explored. Some significant relationships between the length of the production lag and the price and output adjustment behaviour are found. Since production lags can well vary across firms and commodities, the study may offer some guidance in explaining price and output behaviour in cross-sectional studies. It is shown that specific results in the literature are crucially dependent upon the assumption about the production lag. By allowing the production time to exceed the decision period, the basic framework of earlier price inventory models is significantly extended. |
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