The Measurement of Productive Efficiency: Techniques and Applications
Harold O. Fried, Shelton S. Schmidt, C. A. Knox Lovell
Oxford University Press, Apr 22, 1993 - Business & Economics - 440 pages
This work focuses on measuring and explaining producer performance. The authors view performance as a function of the state of technology and economic efficiency, with the former defining a frontier relation between inputs and outputs; the former incorporating waste and misallocation relative to this frontier. They show that insights can be gained by allowing for the possibility of a divergence between the economic objective and actual performance, and by associating this inefficiency with causal variables subject to managerial or policy influence. Derived from a series of lectures held on techniques and applications of the three approaches to the construction of production frontiers and measure of efficiency, this work will be an essential reference to scholars of a variety of disciplines who are involved with quantitative methods or policy.
What people are saying - Write a review
The Econometric Approach to Efficiency Analysis
The Mathematical Programming Approach
Efficiency and Productivity
Earnings Frontiers and Labor Market Efficiency
Unionization and Productive Efficiency
Do Physicians Minimize Cost?
A Production Frontier Model with Flexible Temporal Variation
Share Tenancy and Efficiency in U S Agriculture
Cost Efficiency in Belgian Municipalities
Technical Efficiency in Veterans Administration Hospitals
Productivity Growth in Norwegian Ferries
Efficiency and Competition in O E C D Financial Services
Efficiency and Productivity Growth in U S Banking
Technical Efficiency in New Jersey School Districts
Other editions - View all
Aigner allocative inefficiency assumed assumption average banks Battese calculate Charnes Cobb-Douglas coefficients component computed constant constraints cost frontier cost function Data Envelopment Analysis data set DEA model deterministic frontier Diewert distance functions distribution districts econometric approach efficiency change efficiency measurement efficiency scores empirical envelopment problem envelopment surface Equation error evaluated F0rsund Fare firm Frontier Production Function Grosskopf growth accounting half-normal hospitals input prices inputs and outputs Journal of Econometrics Kumbhakar labor least squares levels linear programming Malmquist index measure of technical multifactor productivity municipalities nonparametric observed outliers panel data parameters percent period physician production frontier production function productivity change productivity growth quartiles random effects model ratio regression relative residuals returns-to-scale sample scale economies Schmidt Section Seiford specification statistical stochastic econometric Table technical change technical efficiency technical progress techniques total factor productivity translog Tulkens union units variables vector W. W. Cooper
Page 5 - It seems not at all unlikely that people in monopolistic positions will very often be people with sharply rising subjective costs; if this is so, they are likely to exploit their advantage much more by not bothering to get very near the position of maximum profit, than by straining themselves to get very close to it. The best of all monopoly profits is a quiet life.
Page 10 - F(e.) of efficiency with a density if it exists. Another way of specifying the Farrell-type measure of technical efficiency is to define it as one minus the maximum equiproportionate reduction in all inputs that still allows continued production of given outputs. Since it is a radial measure a score of unity indicates full technical efficiency, because no equiproportionate input reduction is feasible. The DBA approach has generalized the Farrell approach in terms of both multiple outputs and variable...