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Strategic choice of flexible production technologies and welfare implications

Author: Röller, Lars-Hendrik ; Tombak, MihkelINSEAD Area: Economics and Political Science ; Technology and Operations ManagementIn: Journal of Industrial Economics, vol. 38, no. 4, June 1990 Language: EnglishDescription: p. 417-431.Type of document: INSEAD ArticleNote: Please ask the Library for this articleAbstract: This paper examines the market conditions under which firms would choose a more flexible production technology with respect to product design. A two-stage game is used in which firms choose between flexible and less flexible production technologies in the first stage and subsequently choose output. Conditions under which consumers would benefit from the introduction offlexibe production technologies are found. In this model, it is also found that the production technology game is a Prisoner's Dilemma when firms invest in FMS. The conditions under which the resulting equilibira are efficient are derived
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This paper examines the market conditions under which firms would choose a more flexible production technology with respect to product design. A two-stage game is used in which firms choose between flexible and less flexible production technologies in the first stage and subsequently choose output. Conditions under which consumers would benefit from the introduction offlexibe production technologies are found. In this model, it is also found that the production technology game is a Prisoner's Dilemma when firms invest in FMS. The conditions under which the resulting equilibira are efficient are derived

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