Do you need an early warning system?

Article Abstract:

An early warning system helps a company create a balance between supply and demand. Early detection of changes in the market is especially important when selling new and perishable products, products with limited selling seasons and fashion products. Production planners should closely monitor general market and economic trends, customers' acceptance of the products and their preferences. This way, planners can control supply in accordance with demand.

Planning, Marketing, Consumer preferences

---

Let's rid ourselves of the representative firm model

Article Abstract:

The representative firm model, which shows that competing markets incur the least cost of production in the long run, is inadequate for two reasons. It overlooks the fact that production efficiency can be achieved in the short run. In addition, its presentation of least cost of production in the long run is questionable.

Production functions (Economics)

---

Irrational behaviour starts making economic sense

Article Abstract:

Economist Matthew Rabin has provided the mathematical formulations to incorporate behavioural economics into mainstream economics. Issues concerning his work and the benefits of being able to factor in the unpredictability of consumers behaviour are presented.

Research, Rabin, Matthew

Similar abstracts:

• Abstracts: Coming through loud and clear. Letting go of the details. Setting priorities effectively
• Abstracts: Working hard and playing hard: constructive uses of on-line recreation
• Abstracts: Predicting business failure of retail firms: an analysis using mixed industry models. Retail building supply industry
• Abstracts: Profit comparisons, market prices and managers' judgments about negotiated transfer prices. Predisclosure information, form capitalization, and earnings information transfers

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.