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 … pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …

flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved …

continues to work traditionally. By comparing the treated and control workers, we find causal evidence that the flexibility of …

Economic theory predicts that consumption growth rates should be highly correlated across countries. Empirical evidence … explain this apparent contradiction between theory and empirics. Using data for OECD countries we show that although financial …

rigid, non discretionary contracts. Delegation grants some flexibility in the choice of the action by the agent, but also …

flexibility? to identify the optimal means of innovating to meet the given environmental objective. Thus, it can be argued that … database of patent applications from a cross-section of countries evidence is provided for the positive effect of flexibility …