-stage game with uncertainty it is demonstrated that location is influenced by both flexibility and strategic concerns. We show … provided uncertainty and foreign direct investment costs are low. …

volatility of firm sales and employment; it does not, however, amplify aggregate uncertainty. This theory is therefore a good … start from the premise that adaptation to uncertainty cannot be contracted upon in the worker - employer relationship …. Outsourcing decisions then balance flexibility gains against hold-up costs of opportunistic behaviour by outside contractors. In …

simulation to provide substantial stabilization for the exchange rate while retaining considerable flexibility and robustness in …

Most analyses of the Kyoto flexibility mechanisms focus on the cost effectiveness of "where" flexibility (e.g. by … Annex 1 countries). Less attention has been devoted to "when" flexibility, i.e. to the benefits of allowing emission permit …

capital and output. Demand uncertainty, resolved in period two, gives rise to a trade-off between strategic commitment and … flexibility in the firms’ investment decisions. When the government can commit to an export subsidy, it may choose to over- or …

Flexibility - the ability to react swiftly to others' choices - facilitates collusion by reducing gains from defection … before opponents react. Under imperfect monitoring, however, flexibility may also hinder collusion by inducing punishment … after too few noisy signals. The combination of these forces predicts a non-monotonic relationship between flexibility and …