FLEXIBILITY AND COMPETITION IN U.S. FOOD MANUFACTURING FIRMS: ARE FIRMS TOO INFLEXIBLE?

2026-07-09http://hdl.handle.net/123456789/534476We analyse the flexibility decision of firms in a two-stage duopoly game of complete information and test the models implications using panel data of U.S. food industries. We find a positive relationship between flexibility and market power. Flexibility in food manufacturing industries is significantly higher than in all other industries.FLEXIBILITY AND COMPETITION IN U.S. FOOD MANUFACTURING FIRMS: ARE FIRMS TOO INFLEXIBLE?Text