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Capacity Commitment versus Flexibility

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Author Info
Marcel Boyer
Michel Moreaux

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Abstract

We show how technological flexibility choices and equilibrium configurations (both simultaneous and sequential duopoly) depend on six industry characteristics. Low market volatility combined with intermediate market size favors inflexible technologies; large values of either volatility or size favor flexible technologies; low or intermediate values of both favor the coexistence of flexible and inflexible technologies. The possibility of a flexibility trap exists in industries of low volatility and intermediate size. Entry prevention can sometimes be achieved by inflexible technologies or flexible technologies, depending on the industry characteristics. Copyright (c) 1997 Massachusetts Institute of Technology.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 6 (1997)
Issue (Month): 1 (06)
Pages: 347-376
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Handle: RePEc:bla:jemstr:v:6:y:1997:i:1:p:347-376

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  1. M. Martin Boyer, 2004. "Is the Demand for Corporate Insurance a Habit? Evidence of Organizational Inertia from Directors' and Officers' Insurance," CIRANO Working Papers 2004s-33, CIRANO. [Downloadable!]
  2. Rabah Amir & Filomena Garcia & Malgorzata Knauff, 2006. "Endogenous Heterogeneity in Strategic Models: Symmetry-breaking via Strategic Substitutes and Nonconcavities," Working Papers 2006/29, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  3. Maria Jose Gil-Molto & Joanna Poyago-Theotoky, 2006. "Flexible vs Dedicated Technology Adoption in the Presence of a Public Firm," Discussion Paper Series 2006_1, Department of Economics, Loughborough University, revised Jan 2006. [Downloadable!]
  4. Gerda Dewit & Dermot Leahy, 2001. "Fighting over Uncertain Demand: Investment Commitment versus Flexibility," Economics, Finance and Accounting Department Working Paper Series n1060201, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth. [Downloadable!]
  5. M. Martin Boyer, 2003. "Directors' and Officers' Insurance and Shareholders' Protection," CIRANO Working Papers 2003s-64, CIRANO. [Downloadable!]
  6. Marcel Boyer & Armel Jacques & Michel Moreaux, 1998. "Observability, Commitment and Flexibility," CIRANO Working Papers 98s-36, CIRANO. [Downloadable!]
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  7. Marcel Boyer & Armel Jacques & Michel Moreaux, 2002. "Observation, Flexibilité et Structures Technologiques des Industries," CIRANO Working Papers 2002s-12, CIRANO. [Downloadable!]
  8. Amigues, J-P & Favard, P, Gaudet, G & Moreaux, M, 1996. "On the Optimal Order of Natural Resource Use When the Capacity of the Inexhaustible Substitute is Limited," Cahiers de recherche 9628, Universite de Montreal, Departement de sciences economiques. [Downloadable!]
    Other versions:
  9. Marcel Boyer, 1997. "L'économie des organisations : Mythes et réalités," CIRANO Working Papers 97s-02, CIRANO. [Downloadable!]
  10. Inderst, Roman & Wey, Christian, 2001. "Bargaining, Mergers and Technology Choice in Bilaterally Oligopolistic Industries," CEPR Discussion Papers 2981, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  11. Marcel Boyer & Armel Jacques & Michel Moreaux, 1998. "Better Observability Promotes the Adoption of More Flexible Technologies," CIRANO Working Papers 98s-38, CIRANO. [Downloadable!]
    Other versions:
  12. Marcel Boyer & Séverine Clamens, 1997. "Strategic Adoption of a New Technology under Uncertain Implementation," CIRANO Working Papers 97s-40, CIRANO. [Downloadable!]
  13. Gerda Dewit & Dermot Leahy, 2002. "Time-To-Build Investment and Uncertainty in Oligopoly," Working Papers 200207, School Of Economics, University College Dublin. [Downloadable!]
  14. Marcel Boyer & Armel Jacques & Michel Moreaux, 2001. "Bankruptcy Cost, Financial Structure and Technological Flexibility Choices," CIRANO Working Papers 2001s-27, CIRANO. [Downloadable!]
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