Inventories and Price Inflexibility
证明，在考虑竞争对手行为、需求不确定且企业持有库存或未完成订单的情况下，企业只对永久性需求变化调整价格，而对暂时性需求变化仅调整产量，并用德国数据验证了这一结论。
A firm maximizing expected discounted profits, taking account of the actions of its competitors, choosing price and output before (stochastic) demand is known, and holding inventories or unfilled orders to accommodate discrepancies between output and demand, is shown to respond to a change in demand by changing its output whether the demand change is transitory or permanent, but by changing the price it charges only if the demand change is permanent. This proposition is shown to be consistent with German data. The data are qualitative. The empirical analysis uses the multivariate conditional logit model; the empirical results are summarized by gamma coefficients.