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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...
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to the award. The effect is more pronounced for competitors who have not received an award themselves, who are … geographically close to an award winner and who are not entrenched. We observe an increase in risk-taking, operating performance and …
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