Dual Farrell measures of efficiency
AbstractThis paper provides several definitions of efficiency measures in the price space. Economic and scale aspects of inefficiency are considered to give empirical content to the measurement of efficiency when the production technology is described by cost functions models. It shows, in the Hanoch’s symmetric duality approach, how the new definitions preserve the ranking of efficiency, are formally dually symmetric to the ones defined in the input space, and both are established with respect to different descriptions of the same technology. In addition, graphical procedures are utilized to make an insight into the achievement of polar technologies from primal ones and into the relationship between Shephard’s lemma and Roy’s identity.
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Bibliographic InfoPaper provided by Universidad de Alcalá, Departamento de Economía. in its series Alcamentos with number 1101.
Length: pages 43
Date of creation: 2011
Date of revision:
Find related papers by JEL classification:
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-01-10 (All new papers)
- NEP-EFF-2012-01-10 (Efficiency & Productivity)
- NEP-MIC-2012-01-10 (Microeconomics)
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