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...

Investment in information technologies has by no means been confined to the United States and yet, average European or Japanese growth experience has been quite different. The paper compares the impact of ICT capital accumulation on output growth in Australia, Canada, Finland, France, Germany,...