Many consumers have learned to delay purchases, anticipating that prices might decrease. Such strategic or forward-looking behavior has attracted increasing attention from various disciplines, including operations management, information systems, marketing, and economics. However, there is...

Competition has become an important theme in the operations management literature and, according to recent theoretical and empirical work, the key finding is that firms tend to overstock or overproduce under competition. Following this prediction, one would expect that, after airlines start a...