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Alternative efficiency measures for multiple-output production
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UNSPECIFIED (2005) Alternative efficiency measures for multiple-output production. In: Conference on Current Development in Productivity and Efficiency Measurement, Univ Georgia, Athens, GA, OCT, 2002. Published in: JOURNAL OF ECONOMETRICS, 126 (2). pp. 411-444. ISSN 0304-4076. doi:10.1016/j.jeconom.2004.05.008
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Official URL: http://dx.doi.org/10.1016/j.jeconom.2004.05.008
Abstract
This paper has two main purposes. Firstly, we develop various ways of defining efficiency in the case of multiple-output production. Our framework extends a previous model by allowing for nonseparability of inputs and outputs. We also specifically consider the case where some of the outputs are undesirable, such as pollutants. We investigate how these efficiency definitions relate to one another and to other approaches proposed in the literature. Secondly, we examine the behavior of these definitions in two examples of practically relevant size and complexity. One of these involves banking and the other agricultural data. Our main findings can be summarized as follows. For a given efficiency definition, efficiency rankings are found to be informative, despite the considerable uncertainty in the inference on efficiencies. It is, however, important for the researcher to select an efficiency concept appropriate to the particular issue under study, since different efficiency definitions can lead to quite different conclusions. (c) 2004 Elsevier B.V. All rights reserved.
| Item Type: | Conference Item (UNSPECIFIED) | ||||
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| Subjects: | H Social Sciences > HC Economic History and Conditions Q Science > QA Mathematics H Social Sciences |
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| Journal or Publication Title: | JOURNAL OF ECONOMETRICS | ||||
| Publisher: | ELSEVIER SCIENCE SA | ||||
| ISSN: | 0304-4076 | ||||
| Official Date: | June 2005 | ||||
| Dates: |
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| Volume: | 126 | ||||
| Number: | 2 | ||||
| Number of Pages: | 34 | ||||
| Page Range: | pp. 411-444 | ||||
| DOI: | 10.1016/j.jeconom.2004.05.008 | ||||
| Publication Status: | Published | ||||
| Title of Event: | Conference on Current Development in Productivity and Efficiency Measurement | ||||
| Location of Event: | Univ Georgia, Athens, GA | ||||
| Date(s) of Event: | OCT, 2002 |
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