A Note on Theory of Productive Efficiency and Stochastic Frontier Models
AbstractNeoclassical economics assume that producers in an economy always operate efficiently, however in real terms, producers are not always fully efficient. This difference may be explained both in terms of efficiency, as well as unforeseen exogenous shocks outside the producer control. This paper aims to analyse the productive efficiency estimation through a stochastic frontier analysis approach. Particularly, this paper attempts to examine systematically the theoretical background of stochastic frontier function estimation, focusing on the analysis of the efficiency function, in order to provide a solid background for productive efficiency estimation.
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Bibliographic InfoArticle provided by European Research Studies Journal in its journal European Research Studies Journal.
Volume (Year): XIII (2010)
Issue (Month): 4 ()
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Web page: http://www.ersj.eu/
Stochastic Frontier Analysis; Productive Efficiency Function; Efficiency;
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
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