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Cost Flexibility and Price Dispersion

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  • Hiebert, L Dean

Abstract

This paper examines the relationship between a firm's cost flexibility and product price dispersion. The author shows that a mean-preserving increase in demand variability need not lead to an increase in the value of flexibility or in the optimal level of flexibility. This is contrary to results in the literature that are achieved by assuming a quadratic cost curve. Copyright 1989 by Blackwell Publishing Ltd.

Suggested Citation

  • Hiebert, L Dean, 1989. "Cost Flexibility and Price Dispersion," Journal of Industrial Economics, Wiley Blackwell, vol. 38(1), pages 103-109, September.
    • Handle: RePEc:bla:jindec:v:38:y:1989:i:1:p:103-09
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    Cited by:

    1. Elisabetta Magnani & David Prentice, 2000. "Unionisation, short-run flexibility and cost efficiency: Evidence from U.S. manufacturing," Working Papers 2000.04, School of Economics, La Trobe University.
    2. Swetlana Renner & Thomas Glauben & Heinrich Hockmann, 2014. "Measurement and decomposition of flexibility of multi-output firms," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 41(5), pages 745-773.
    3. Aranoff, Gerald, 2011. "Competitive manufacturing with fluctuating demand and diverse technology: Mathematical proofs and illuminations on industry output-flexibility," Economic Modelling, Elsevier, vol. 28(3), pages 1441-1450, May.
    4. Yang, Liu & Wang, Yonggui & Ma, Jun & Ng, Chi To & Cheng, T.C.E., 2014. "Technology investment under flexible capacity strategy with demand uncertainty," International Journal of Production Economics, Elsevier, vol. 154(C), pages 190-197.
    5. Renner, Swetlana & Pieniadz, Agata, 2008. "Conceptualisation of family farms’ flexibility," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44126, European Association of Agricultural Economists.

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