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Measurement And Decomposition Of Flexibility Of Multi-Output Firms

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  • Renner, Swetlana
  • Glauben, Thomas
  • Hockmann, Heinrich

Abstract

Flexibility can be considered as a crucial factor of competitive advantage, especially under conditions of dynamically changing environments. Based on the classical microeconomic definition of flexibility, as introduced by Stigler, and some recent concepts developed in the production economics, this article proposes a primal flexibility measure for multi-product firms. When decomposed, this measure offers useful insights into possible sources of flexibility, especially by investigating the role of both scale and scope economies. This approach provides the theoretical basis to investigate the magnitude and sources of flexibility in the Polish agricultural sector during the transition period.

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Paper provided by International Association of Agricultural Economists in its series 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil with number 124865.

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Date of creation: 2012
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Handle: RePEc:ags:iaae12:124865

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Keywords: cost function; duality; input distance function; flexibility; Poland; scale economies; scope economies; Production Economics; Productivity Analysis; D24; Q12; L25;

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  1. Weiss, Christoph R., 2001. "On flexibility," Journal of Economic Behavior & Organization, Elsevier, vol. 46(3), pages 347-356, November.
  2. Chavas, Jean-Paul & Kim, Kwansoo, 2010. "Economies of diversification: A generalization and decomposition of economies of scope," International Journal of Production Economics, Elsevier, vol. 126(2), pages 229-235, August.
  3. Roberto Mosheim & C.A. Knox Lovell, 2007. "Scale Economies and Inefficiency of U.S. Dairy Farms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(3), pages 777-794.
  4. Hajargasht, Gholamreza & Coelli, Tim & Rao, D.S. Prasada, 2008. "A dual measure of economies of scope," Economics Letters, Elsevier, vol. 100(2), pages 185-188, August.
  5. Deller, Steven C & Chicoine, David L & Walzer, Norman, 1988. "Economies of Size and Scope in Rural Low-Volume Roads," The Review of Economics and Statistics, MIT Press, vol. 70(3), pages 459-65, August.
  6. Jean-Paul Chavas & Robert G. Chambers & Rulon D. Pope, 2010. "Production Economics and Farm Management: a Century of Contributions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(2), pages 356-375.
  7. von Ungern-Sternberg, Thomas, 1990. "The Flexibility to Switch between Different Products," Economica, London School of Economics and Political Science, vol. 57(227), pages 355-69, August.
  8. Bernhard Br�mmer & Thomas Glauben & Geert Thijssen, 2002. "Decomposition of Productivity Growth Using Distance Functions: The Case of Dairy Farms in Three European Countries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 628-644.
  9. Caves, Douglas W & Christensen, Laurits R & Swanson, Joseph A, 1981. "Productivity Growth, Scale Economies, and Capacity Utilization in U.S. Railroads, 1955-74," American Economic Review, American Economic Association, vol. 71(5), pages 994-1002, December.
  10. Mills, David E, 1984. "Demand Fluctuations and Endogenous Firm Flexibility," Journal of Industrial Economics, Wiley Blackwell, vol. 33(1), pages 55-71, September.
  11. Catherine J. Morrison Paul & Richard Nehring & David Banker, 2004. "Productivity, Economies, and Efficiency in U.S. Agriculture: A Look at Contracts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(5), pages 1308-1314.
  12. Mills, David E & Schumann, Laurence, 1985. "Industry Structure with Fluctuating Demand," American Economic Review, American Economic Association, vol. 75(4), pages 758-67, September.
  13. Jean-Paul Chavas, 2008. "On the economics of agricultural production ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(4), pages 365-380, December.
  14. Das, Bhaskar J & Chappell, William F & Shughart, William F, II, 1993. "Demand Fluctuations and Firm Heterogeneity," Journal of Industrial Economics, Wiley Blackwell, vol. 41(1), pages 51-60, March.
  15. Norashidah Mohamed Nor & Nor Ghani Md. Nor & Ahmad Zainuddin Abdullah & Suhaila Abd. Jalil, 2007. "Flexibility and small firms' survival: further evidence from Malaysian manufacturing," Applied Economics Letters, Taylor & Francis Journals, vol. 14(12), pages 931-934.
  16. Zeller, Manfred & Robison, Lindon J, 1992. "Flexibility and Risk in the Firm," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 19(4), pages 473-84.
  17. Mills, David E., 1986. "Flexibility and firm diversity with demand fluctuations," International Journal of Industrial Organization, Elsevier, vol. 4(2), pages 203-215, June.
  18. Carlsson, Bo, 1989. "Flexibility and the theory of the firm," International Journal of Industrial Organization, Elsevier, vol. 7(2), pages 179-203, June.
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