source about future capacity availability within an information horizon, referred to as "advance supply information". We … study two main questions: I) How can advance supply information be utilized when making replenishment decisions? ii) What is …

level. This usually leads to unrealistic and extreme specialization in supply responses. McCarl (1982) introduced the … additional synthetic crop mixes based on estimated supply response elasticities and systematically varied market prices. While … avoiding extreme specialization this approach provides sufficient flexibility when future supply responses can be drastically …