[position in research by date]
[position in research by subject]
"Sales Expectations and Short-Run Production Decisions,"
Southern
Economic Journal, January 1971, 267-275.
pdf file (701KB).
Abstract
None
Comments
This paper uses physical units data to examine short run production
decisions. The data were collected for my Ph.D. thesis and are presented
in the appendix in 1969#1. The results
strongly support the hypothesis that expectations of future sales affect
current production decisions. Two expectational hypothesis are examined.
One is that expectations of future sales depend only on past sales, and
the other is that expectations of future sales are perfect.
This work is extended in 1989#2, where again
the results
support the hypothesis that expectations of future sales affect
current production decisions. For this work the hypothesis that expectations
of future sales are perfect was replaced with the hypothesis that
expectations are rational.