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"Flexibility Views in Industrial Location and Location Decision Theory," in: John Rees et al., eds., Industrial Location and Regional Systems. New York: J.F.Bergin Publ., 1981, pp.66-75. [earlier version presented at AAG-IGU Symposium on Industrial Systems, April 22, 1979; part of AAG Meetings in Philadelphia, 1979]
"Flexibility" as a trait has been hailed as a "virtue in itself, a virtue worth paying for" and, as a theoretical concept, condemned as "a resting place where one closes the eyes tired of contemplating about uncertainty." The author attempts to explore and organize different uses of terms such as "flexibility", "adaptability", "alterability", "convertibility", "locational elasticity" and "mobility" in the context of industrial location and decision-making. Following a discussion of various measures of flexibility, the paper then leads into a critical evaluation of possibilities for modeling certain investment-related flexibility considerations in multi-period locational decision-making situations.
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