This paper analyses the flexibility decision of firms. In particular we (a) ask whether the flexibility choice is influenced by market structure (concentration, market growth, ...), (b) compare the firms' actual choices with welfare maximising flexibility decisions (c) investigate the...

We consider a model of polluting firms subject to tax on emissions, monitoring, and penalties in case of underreporting and which face a choice between a more expensive clean and a less expensive dirty technology. Moreover, emissions are subject to random events.We show that the optimal...

The high cost of purchasing high technology and severe sanctions imposed on Iran over the last decade are the reasons why economical alternatives should be assessed, such as the use of second hand technology. There is evidence to show that in Iran the use of second-hand equipment in the...