Flexibility And Competition In U.S. Food Manufacturing Firms: Are Firms Too Inflexible?
We analyse the flexibility decision of firms in a two-stage duopoly game of complete information and test the models implications using panel data of U.S. food industries. We find a positive relationship between flexibility and market power. Flexibility in food manufacturing industries is significantly higher than in all other industries.
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Discussion Papers Series, Department of Economics, Tufts University
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