Membership size in the educable cooperative facing uncertain demand |
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Authors: | Professor Ira Horowitz |
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Institution: | (1) Present address: Department of Decision and Information Sciences, College of Business Administration, University of Florida, 32611 Gainesville, FL, USA |
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Abstract: | This article explicitly incorporates layoff and hiring costs into a discretetime dynamic model with stationary demand uncertainty, in which managers in a cooperative learn something about the demand process over time, and anticipate learning something about that process. It is shown how the opportunity to learn affects initial membership size and how the knowledge gained induces changes in membership, as well as how risk preferences impact on membership size at any point in time. |
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