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A Dynamic Characterization of Efficiency

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  • Spyro Stefanou

    (Pennsylvania State University)

Abstract

The definition and measurement of dynamic economic performance has been addressed obliquely in the literature with the notions of scope economies and capacity utilization measures, but little work has focused on develop the static theory analogs of efficiency measures into the dynamic context. This paper is an attempt to identify some of the conceptual and methodological issues to be addressed. A model allowing for dynamic production decisions in the face of inefficiency is presented to illustrate some of the issues and the extensions necessary to identify truly dynamic performance measures.

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File URL: http://economics.soc.uoc.gr/wpa/docs/Dyn_Characterization_of_Efficiency.pdf
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Bibliographic Info

Paper provided by University of Crete, Department of Economics in its series Working Papers with number 0712.

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Length: 24 pages
Date of creation:
Date of revision: 00 Oct 2006
Handle: RePEc:crt:wpaper:0712

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