## Stochastic Frontier AnalysisThis book develops econometric techniques for the estimation of production, cost and profit frontiers, and for the estimation of the technical and economic efficiency with which producers approach these frontiers. Since these frontiers envelop rather than intersect the data, and since the authors continue to maintain the traditional econometric belief in the presence of external forces contributing to random statistical noise, the work is titled Stochastic Frontier Analysis. Hb ISBN (2000): 0-521-48184-8 |

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### Contents

INTRODUCTION | 1 |

12 A BRIEF HISTORY OF THOUGHT | 4 |

13 THE ORGANIZATION OF THE BOOK | 11 |

ANALYTICAL FOUNDATIONS | 15 |

22 PRODUCTION TECHNOLOGY | 18 |

23 TECHNICAL EFFICIENCY | 42 |

24 ECONOMIC EFFICIENCY | 50 |

25 A GUIDE TO THE LITERATURE | 61 |

53 MULTIPLEOUTPUT MODELS | 205 |

54 ALTERNATIVE PROFIT FRONTIERS | 212 |

55 A GUIDE TO THE LITERATURE | 214 |

THE SHADOW PRICE APPROACH TO THE ESTIMATION AND DECOMPOSITION OF ECONOMIC EFFICIENCY | 216 |

62 CROSSSECTIONAL MODELS | 218 |

63 PANEL DATA MODELS | 254 |

64 A GUIDE TO THE LITERATURE | 259 |

INCORPORATING EXOGENOUS INFLUENCES ON EFFICIENCY | 261 |

THE ESTIMATION OF TECHNICAL EFFICIENCY | 63 |

32 CROSSSECTIONAL PRODUCTION FRONTIER MODELS | 64 |

33 PANEL DATA PRODUCTION FRONTIER MODELS | 95 |

34 STOCHASTIC PRODUCTION FRONTIER MODELS WITH HETEROSKEDASTICITY | 115 |

35 A GUIDE TO THE LITERATURE | 130 |

THE ESTIMATION AND DECOMPOSITION OF COST EFFICIENCY | 131 |

42 CROSSSECTIONAL COST FRONTIER MODELS | 136 |

43 PANEL DATA COST FRONTIER MODELS | 166 |

44 TWO ADDITIONAL APPROACHES TO THE ESTIMATION OF COST EFFICIENCY | 175 |

45 A GUIDE TO THE LITERATURE | 182 |

THE ESTIMATION AND DECOMPOSITION OF PROFIT EFFICIENCY | 184 |

52 SINGLEOUTPUT MODELS | 186 |

72 EARLY APPROACHES TO THE INCORPORATION OF EXOGENOUS INFLUENCES | 262 |

73 RECENT APPROACHES TO THE INCORPORATION OF EXOGENOUS INFLUENCES | 266 |

74 A GUIDE TO THE LITERATURE | 277 |

THE ESTIMATION OF EFFICIENCY CHANGE AND PRODUCTIVITY CHANGE | 279 |

82 THE PRIMAL PRODUCTION FRONTIER APPROACH | 281 |

83 A DUAL COST FRONTIER APPROACH | 287 |

84 A DUAL PROFIT FRONTIER APPROACH | 299 |

85 A GUIDE TO THE LITERATURE | 307 |

311 | |

329 | |

332 | |

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### Common terms and phrases

approach assumed Chapter Cobb-Douglas cost efficiency cost frontier model cost function cost share equations cross-sectional decompose density function distributional assumptions dual econometric efficiency change error terms esti estimates of technical estimation and decomposition fixed-effects framework functional form given in equation heteroskedasticity homoskedastic Hotelling's lemma input allocative inefficiency input cost share input demand equations input prices input vector input-oriented technical Isoq Kumbhakar log likelihood function maximize maximum likelihood estimates measure of technical method of moments multiple-output normalized profit obtain estimates output distance function output prices output vector panel data producer-specific estimates producers production frontier model production technology productivity change profit efficiency profit share equations provides quasi-fixed inputs regressors residuals returns to scale revenue efficiency Schmidt Section shadow input shadow price Shephard's lemma single-equation single-output statistical noise stochastic cost frontier stochastic frontier stochastic production frontier technical and allocative technical change technical efficiency techniques time-invariant tion variable profit frontier zero

### Popular passages

Page 312 - Dual Measures of Monopoly and Monopsony Power: An Application to Regulated Electric Utilities," Review of Economics and Statistics 71, 250-57.

Page 312 - Parametric Estimation of Technical and Allocative Inefficiency with Panel Data', International Economic Review, vol. 35, pp. 231-243. Atkinson, SE and Cornwell, C. (1994b), 'Estimation of Output and Input Technical Efficiency Using a Flexible Functional Form and Panel Data', International Economic Review, vol.

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