全球智库信息集成服务系统(G2TT): Production Targets

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w11958
来源ID	Working Paper 11958
	Production Targets
	Guillermo Caruana; Liran Einav
发表日期	2006-01-23
出版年	2006
语种	英语
摘要	We present a dynamic quantity setting game, where players may continuously adjust their quantity targets, but incur convex adjustment costs when they do so. These costs allow players to use quantity targets as a partial commitment device. We show that the equilibrium path of such a game is hump-shaped and that the final equilibrium outcome is more competitive than its static analog. We then test the theory using monthly production targets of the Big Three U.S. auto manufacturers during 1965-1995 and show that the hump-shaped dynamic pattern is present in the data. Initially, production targets steadily increase until they peak about 2-3 months before production. Then, they gradually decline to eventual production levels. This qualitative pattern is fairly robust across a range of similar exercises. We conclude that strategic considerations play a role in the planning phase in the auto industry, and that static models may therefore under-estimate the industry's competitiveness.
主题	Microeconomics ; Game Theory ; Market Structure and Distribution ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies
URL	https://www.nber.org/papers/w11958
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/569609
推荐引用方式 GB/T 7714	Guillermo Caruana,Liran Einav. Production Targets. 2006.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w11958.pdf（865KB）	智库出版物		限制开放	CC BY-NC-SA	浏览