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Experimentation and Optimal Output Decisions: The Cooperative Versus the Entrepreneurial Firm

Author

Listed:
  • Patrick Thompson

    (Department of Decision and Information Sciences, College of Business Administration, University of Florida, Gainesville, Florida 32611)

  • Ira Horowitz

    (Department of Decision and Information Sciences, College of Business Administration, University of Florida, Gainesville, Florida 32611)

Abstract

This paper studies and contrasts the experimental inclinations of entrepreneurial and cooperative firms supplying a perishable good under uncertain demand, when larger stocks might yield additional information about the demand-generating process. While these firms might react differently, and in the case of the cooperative not unambiguously, to environmental change, neither variant will find the higher output---possibly more informative---option especially attractive.

Suggested Citation

  • Patrick Thompson & Ira Horowitz, 1993. "Experimentation and Optimal Output Decisions: The Cooperative Versus the Entrepreneurial Firm," Management Science, INFORMS, vol. 39(1), pages 46-53, January.
    • Handle: RePEc:inm:ormnsc:v:39:y:1993:i:1:p:46-53
    DOI: 10.1287/mnsc.39.1.46
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    Cited by:

    1. Horowitz, I. & Thompson, P., 1995. "The sophisticated decision maker: All work and no pay?," Omega, Elsevier, vol. 23(1), pages 1-11, February.

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