By building on theoretical work by Mills and Schumann (1985) and Ungern-Sternberg (1990) this paper provides evidence on the determinants of two dimensions of flexibility, the flexibility in adjusting aggregate output over time ("tactical flexibility") as well as the ability to switch quickly...

The liberalisation of agricultural markets has increased the interest of farmers (as well as those working on policies concerned with their welfare) in agricultural diversification strategies. However, empirical research on diversification in European agricultural markets is very limited. This...