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Output-Flexibility and Diverse Technology

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  • Aranoff, Gerald

Abstract

Output-flexibility's welfare effects are analyzed in two propositions involving linear total cost curves and absolute capacity limits. This paper demonstrates that, in a setting of competitive manufacturing, the conditions for two technologies to coexist are that the other is more output-flexible, i.e., produces at a lower expected average cost when expected capacity utilization is low. Output-flexibility is illustrated by the "buy" alternative in the make-or-buy decision and the "keep" alternative in the replace-or-keep decision. The writer proposes and demonstrates an output-flexibility indicator. Copyright 1989 by Scottish Economic Society.

Suggested Citation

  • Aranoff, Gerald, 1989. "Output-Flexibility and Diverse Technology," Scottish Journal of Political Economy, Scottish Economic Society, vol. 36(2), pages 141-159, May.
  • Handle: RePEc:bla:scotjp:v:36:y:1989:i:2:p:141-59
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    References listed on IDEAS

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    1. Balassa, Bela, 1986. "Intra-Industry specialization : A cross-country analysis," European Economic Review, Elsevier, vol. 30(1), pages 27-42, February.
    2. Broll, Udo & Gilroy, Bernard Michael, 1985. "International Division of Labour and Intra-Trade," MPRA Paper 18042, University Library of Munich, Germany.
    3. Economides, Nicholas, 1984. "Do increases in preference similarity (across countries) induce increases in trade? : An affirmative example," Journal of International Economics, Elsevier, pages 375-381.
    4. Helpman, Elhanan, 1984. "A Simple Theory of International Trade with Multinational Corporations," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 451-471, June.
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    Cited by:

    1. 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.

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