Using a model of dynamic price competition, this paper provides an explanation from the supply side for the well-established observation that retail prices adjust faster when input costs rise than when they fall. The opportunity of profitable storing for the next period induces competitive firms to immediately increase their prices in anticipation of higher future input costs. This relaxes comp...

Flexibility in response to competitive pressure from globalized markets and increasingly individualized customer desires has become vital for firms. A common strategy to address this challenge is to employ a dynamic concept of organization and reach beyond the boundaries of the firm. Accordingly, technology transfer from providers of knowledge intensive business services attracts more and more ...

At least since Friedman's (1968) American Economic Association Presidential address, macro and labor economists have recognized that a certain level of unemployment is a "natural" consequence of dynamic friction that accompanies the process by which workers are allocated and reallocated among employment opportunities. Friedman (1 968) summarizes his famous definition of the natural rate as foll...

1466 to improve on existing device performance while maintaining acceptable economic value. This information could then inform postmarketing surveillance efforts, triggering reviews at prespecified efficacy or complication thresholds and facilitating rapid application of new data as they become available. Manufacturers could use such data to improve device development; researchers could identif...

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This paper examines knowledge sharing in supply chain by developing analytical models to minimize knowledge sharing uncertainty. Analogies from thermodynamics are used to describe the phenomenon in supply chain knowledge sharing. The study finds that distance and sender capacity are important to reduce knowledge sharing uncertainty. Furthermore, higher contact frequency between the sender and t...