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Allocative Efficiency of Technically Inefficient Production Units

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Author Info
Bogetoft, Peter
Fare, Rolf
Abstract

We discuss how to measure allocative efficiency without presuming technical efficiency. This is relevant when it is easier to introduce reallocations than improvements of technical efficiency. We compare the approach to the traditional one of assuming technical efficiency before measuring allocative efficiency. In particular, we develop necessary and sufficient conditions on the technology to ensure consistent measures and we give dual organizational interpretations of the approaches.

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File URL: http://purl.umn.edu/24217
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Publisher Info
Paper provided by Royal Veterinary and Agricultural University, Food and Resource Economic Institute in its series Unit of Economics Working papers with number 24217.

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Date of creation: 1999
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Handle: RePEc:ags:rvaewp:24217

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Related research
Keywords: technical efficiency; allocative efficiency; homethetic technologies; slack consumption; Research and Development/Tech Change/Emerging Technologies;

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  1. Bogetoft, Peter, 1995. "Incentives and productivity measurements," International Journal of Production Economics, Elsevier, vol. 39(1-2), pages 67-77, April. [Downloadable!] (restricted)
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This page was last updated on 2009-12-26.

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