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 … volatility of firm sales and employment; it does not, however, amplify aggregate uncertainty. This theory is therefore a good …

-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. …

This Paper investigates the empirical relationship between uncertainty and investment dynamics. This is motivated by … uncertainty, as firms place a greater value on the option to wait. Using simulated data we show that this more cautious behaviour … can be detected as a smaller impact of sales growth on investment for firms facing higher uncertainty. Using a stock …

This paper proposes a model of endogenous growth with diversifiable uncertainty, irreversible investment decisions and …

pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably … most economic decisions are already taken. Therefore, the advantage of flexibility for Case Law is unavoidably paired with …

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

decreasing its persistence, and that employment overshoots its long-run level at the time these contracts are introduced …