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THE SUPPLY OF PERISHABLE GOODS

Therefore, it is useful to use groups of consumers instead of countries as a basis for identifying international segments (Jain 1989). Within a segment and regarding a particular ―culture-independent‖ product category (e.g., fashion, cars, luxuries), consumer behaviors do not vary across cultures or countries (Dawar and Parker 1994). For example, information search and exchange can be regarded as ―universal‖ consumer behaviors and can be observed in all cultures (Dawar and Parker 1994; Murdock 1945). Related to the cognitive processes underlying decision making which are not cultural issues, but standardized decision-making paths that differ within, not across cultures (McDonald 1994). | THE SUPPLY OF PERISHABLE GOODS by Hugo Pedro Boff1 ABSTRACT This paper models the supply of perishable goods within a randon framework. Perishability affects a large group of goods usually traded in the economy such as fruits and vegetables newspapers medicine drugs a.s.o. Surprisingly one cannot find in the literature a decision model for suppliers that takes into account the specificity of this kind of goods. The suppliers guess their demand by choosing a probability density function one at each price level. Then they choose optimal supply functions maximizing their expected profits. Examples of the optimal solution are given for some known demand distribution functions like Pareto and Weibull. The autarchic mo del is then extended to include nonprice competition among the sellers. Each seller chooses the supply curve that maximizes his expected profit conditioned by the event that competitors markets are in equilibrium. The supply of rivals affect the sales for certain to loyal clients but not the random sales. The autarchic mo del is then used to analyze the green-pepper market in Rio de Janeiro 1994 7-2000 11 . The results give consistency to the rational hypothesis of the model. Key-words Perishable goods price-elasticity Lerner index Nash equilibrium. JEL classification Q21 C60 D81 L81. 1 IE Universidade Federal do Rio de Janeiro Brasil. E-MAIL hugo@ie.ufrj.br. TEL. 55-21-38735256. A previous version of this paper was presented at the XXIXthMeeting of the Brazilian Economic Society ANPEC 2001 . The author thanks helpful comments received from Getulio Borges da Silveira IE UFRJ Marcos Barros Lisboa Ricardo Cavalcanti EPGE FGV and others participants of research seminars in Brazil. The remaining erros are indebted to him. 1 I - Introduction This paper models the supply of perishable goods within a random framework. Perishability affects a large group of goods usually traded in the economy such as fruits and vegetables newspapers medicine drugs a.s.o. .