I provide three comparative statics involving the level of demand uncertainty for the newsvendor model, two of which lead to robust predictions. I show that for distributions of demand that are greater in the dispersive order, both the expected (censored) sales and share of inventory sold fall....

Examining all widely-sold products in a large, national scanner database, we find that seasonality in demand is large, pervasive across product categories, and heterogeneous in its timing. Yet at seasonal frequencies prices fluctuate little, and typically, countercyclically, falling as demand...

Measures of productivity reveal large differences across producers even within narrowly defined industries. Traditional measures of productivity, however, will associate differences in demand volatility to differences in productivity when adjusting factors of production is costly. I document...