Production in a Service Industry Using Customer Inputs: A Stochastic Model
The hypothesis that service industry production is a cooperative effort using inputs supplied by firms and customers is investigated. Customer time is seen as a Hicks neutral input which uniformly increases the marginal productivity of all other factors. Simple queuing theory is used to develop the...
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| Veröffentlicht in: | The review of economics and statistics 1983-02, Vol.65 (1), p.149-153 |
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| container_title | The review of economics and statistics |
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| creator | De Vany, Arthur S. Gramm, Wendy L. Saving, Thomas R. Smithson, Charles W. |
| description | The hypothesis that service industry production is a cooperative effort using inputs supplied by firms and customers is investigated. Customer time is seen as a Hicks neutral input which uniformly increases the marginal productivity of all other factors. Simple queuing theory is used to develop the competitive market implications. A stochastic model is used to test the following hypotheses using data from the dental industry: 1. Customer time has a positive marginal product. 2. Firms employ the profit-maximizing level of customer time. Results support both hypotheses. |
| doi_str_mv | 10.2307/1924421 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0034-6535 |
| ispartof | The review of economics and statistics, 1983-02, Vol.65 (1), p.149-153 |
| issn | 0034-6535 1530-9142 |
| language | eng |
| recordid | cdi_proquest_journals_194655509 |
| source | Jstor Complete Legacy; Business Source Complete; Periodicals Index Online; JSTOR Mathematics & Statistics |
| subjects | Capacity costs Capital costs Dentists Economic models Economic theory Hypotheses Marginal products Marginal revenue products Production Production engineering Production estimates Production functions Queuing theory Service industries Stochastic models |
| title | Production in a Service Industry Using Customer Inputs: A Stochastic Model |
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