Primal and dual multi-output flexibility measures

Renner, Swetlana; Glauben, Thomas; Hockmann, Heinrich; Ouellette, Pierre

doi:10.1007/s11123-015-0449-8

Cited by 2 publications

(2 citation statements)

References 14 publications

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“…, where y is output and VC is variable costs, a firm`s flexibility can be measured by (e.g. Renner et al 2015):…”

Section: Economic Frameworkmentioning

confidence: 99%

“…ii) Using regional input prices as a proxy for firm specific prices can lead to insufficient variance for a consistent estimation of cost functions(Renner, 2014). Finally, deriving firm specific prices by dividing input costs per firm by respective quantities employed is not feasible in the present case as the latter are not available from the balance sheet data.5 SeeRenner (2014) andRenner et al (2015) for the derivation of the variable cost function and its first and second order derivatives with respect to y.…”

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confidence: 99%

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Revisiting firm flexibility and efficiency: evidence from the EU dairy processing industry

Hirsch

Mishra

Möhring

et al. 2019

European Review of Agricultural Economics

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We analyse the flexibility of EU dairy processors to adjust production to fluctuating economic conditions. For a set of 2,186 firms, we derive production flexibility measures representing the effect of output variations on costs. The results reveal that flexibility is highest in Poland and Italy and lowest in Spain. Several firm-specific factors, such as size and age of the firm, are found to affect firm flexibility. Moreover, we detect a tradeoff between flexibility and technical efficiency for large firms indicating that a sole focus on firm efficiency can be insufficient. Finally, the results show that during economic crisis flexibility can help to sustain profitability.

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“…, where y is output and VC is variable costs, a firm`s flexibility can be measured by (e.g. Renner et al 2015):…”

Section: Economic Frameworkmentioning

confidence: 99%

mentioning

confidence: 99%