"Production and supply analysis are core components of applied microeconomics. Taken together with considerations of demand and marketing, production and supply complete the nexus of what comprises modern applied economics. Lecture Notes in Production and Supply presents the core components of...

Modern theories of aggregate supply are built on the foundation that firms set prices and commit to producing whatever the market demands. We remove this strategic restriction and allow firms to choose supply functions, mappings that describe the prices charged at each quantity of production....

The Covid-19 crisis is an unusual and seemingly all-encompassing economic shock. On the one hand, it was unquestionably a negative demand shock that, for fixed prices and incomes, reduced household spending. On the other hand, it was also unquestionably a negative supply shock that reduced...

This study aims to investigate the impact of supply-side factors on the export performance of Pakistan at a disaggregated level. It has identified major export categories of Pakistan and constructed a novel time-series data set of each of these categories from 1971 to 2014. Using autoregressive...

This study aims to investigate the impact of supply-side factors on the export performance of Pakistan at a disaggregated level. It has identified major export categories of Pakistan and constructed a novel time-series data set of each of these categories from 1971 to 2014. Using autoregressive...

In the context of supply function competition with private information, we test in the laboratory whether - as predicted in Bayesian equilibrium - costs that are positively correlated lead to steeper supply functions and less competitive outcomes than do uncorrelated costs. We find that the...

We investigate an extended game with observable delay under duopolistic competition in affine supply functions. Firms use the intercepts of supply functions as their strategic variables. Best replies are downward (upward) sloping if the common slope of supply functions is sufficiently low...

In the context of supply function competition with private information, we test in the laboratory whether, as predicted in Bayesian equilibrium, costs that are positively correlated lead to steeper supply functions and less competitive outcomes than do uncorrelated costs. We find that the...

In the context of supply function competition with private information, we test in the laboratory whether — as predicted in Bayesian equilibrium — costs that are positively correlated lead to steeper supply functions and less competitive outcomes than do uncorrelated costs. We find that the...

In this note we revisit the result by Menezes and Quiggin (2012), showing that under linear supply function competition, the same Nash equilibrium results when arms choose slopes or intercepts of their supply functions. This is because the first order conditions emerging in the two strategy...

We show that supply functions cannot be classified as either strategic complements or substitutes according to the twofold criterion advanced by Bulow et al. (1985). This is because while the slope of the best reply is univocally positive, this is not the case with the sign of the cross...

This paper aims at participating in the long-lasting debate about the analytical foundations of the Cournot equilibrium. In a homogeneous oligopoly, under standard regularity conditions, we prove that Cournot-Nash emerges both under (i) price competition and Cournot conjectures; and (ii) supply...

We show that the standard argument according to which supply function equilibria rank intermediate between Bertrand and Cournot equilibria may be reversed. We prove this result within a static oligopolistic game in which both supply function competition and Cournot competition yield a unique...

Cotton production is one of the main pesticide use industries in the U.S. This intensive use has resulted in the disruption of naturally occurring biological control factors that regulate other insect pest populations and “the pesticide treadmill”. The result is resistance to insecticides,...

This paper is the first part of a Marxian critique of the theory of the firm, focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter marginal analysis is introduced, culminating in the derivation of the Labour Value Function as the supply curve of the...

This paper is the first part of a Marxian critique of the theory of the firm focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter, marginal analysis is introduced culminating in the derivation of the Labour Value Function as the supply curve of the...

A century of the EOQ / Matthew J. Drake and Kathryn A. Marley -- Multi-period lot-sizing with stationary demand: extension to forecast horizons / Suresh Chand and Suresh Sethi -- EOQ models with supply disruptions / Zümbül Atan and Lawrence V. Snyder -- Existence of EOQ and its evaluation:...

This article analyzes tacit collusion in infinitely repeated multiunit uniform price auctions in a symmetric oligopolywith capacity-constrained firms.Under two popular definitions of the uniform price, when each firm sets a price-quantity pair, perfect collusion with equal sharing of profit is...

The principal goal of this article is to identify the implications of a binding emission constraint on a firm’s optimal capital–labor ratio and to determine whether it is appropriate to write a firm’s production function as an increasing function of its emissions alone. I find that even...

This paper contributes to the study of tacit collusion by analyzing infinitely repeated multiunit uniform price auctions in a symmetric oligopoly with capacity constrained firms. Under both the Market Clearing and Maximum Accepted Price rules of determining the uniform price, we show that when...

This paper contributes to the study of tacit collusion by analyzing infinitely repeated multiunit uniform price auctions in a symmetric oligopoly with capacity constrained firms. Under both the Market Clearing and Maximum Accepted Price rules of determining the uniform price, we show that when...

This paper contributes to the study of tacit collusion by analyzing infinitely reaped multiunit uniform price auctions in a symmetric oligopoly with capacity constrained firms. Under both the Market Clearing and Maximum Accepted Price rules of determining the uniform price, we show that when...

This paper contributes to the study of tacit collusion by analyzing infinitely repeated multiunit uniform price auctions in a symmetric oligopoly with capacity constrained firms. Under both the Market Clearing and Maximum Accepted Price rules of determining the uniform price, we show that when...

A decision model for the assessment of uncertainty in the supply function of a lignite deposit is presented. A supply function providing the quantities of lignite recoverable from a deposit at different cost levels is defined in terms of the size of the deposit and its volumetric density in...

Five factors are found to have had a significant effect on U.S. acreage of wheat planted during 1961-74: (1) acreage allotment, (2) additional diversion for payment through 1970, (3) set-aside acres in 1971-73, (4) relaxation of allotment restrictions, and (5) the market price of wheat for the...