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- W2762321275 abstract "Abstract As a result of catastrophic events, firms and other organizations are faced with input shortages and price shocks. Firms can respond to these events using a variety of “resilience” actions, or tactics. Here we provide a microeconomic foundation for analyzing a comprehensive range of these tactics, incorporating both inherent and adaptive concepts of resilience. We classify these tactics and derive optimality conditions for production with the use of each class of resilience in the context of a nested Constant Elasticity of Substitution (CES) function consisting of aggregated Capital (K), Labor (L), Infrastructure (I), and Materials (M). The framework has broad applicability, including measurement and scoring of resilience, cost-effectiveness assessment of resilience tactics individually and as a group, calculation of resilience indices, and supply-chain management." @default.
- W2762321275 created "2017-10-20" @default.
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- W2762321275 date "2019-02-01" @default.
- W2762321275 modified "2023-10-17" @default.
- W2762321275 title "Economic resilience of the firm: A production theory approach" @default.
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- W2762321275 doi "https://doi.org/10.1016/j.ijpe.2018.07.017" @default.
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