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Accounting For Unobservables In Production Models: Management And Inefficiency

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Author Info
Bill Greene with Antonio Alvarez (Univ. of Oviedo)
Carlos Arias (Univ. of Leon)

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Abstract

This paper explores the role of unobserved managerial ability in production and its relationship with technical efficiency. Previous analyses of managerial ability have been based on strong assumptions about its role in production or the use of proxies. We avoid these shortcomings by introducing managerial ability as an unobserved random variable in a translog production function. The resulting empirical model can be estimated as a production frontier with random coefficients.

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Publisher Info
Paper provided by Econometric Society in its series Econometric Society 2004 Australasian Meetings with number 341.

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Date of creation: 11 Aug 2004
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Handle: RePEc:ecm:ausm04:341

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Related research
Keywords: production; technical efficiency; translog production function;

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A - General Economics and Teaching

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Efthymios G. Tsionas, 2002. "Stochastic frontier models with random coefficients," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 17(2), pages 127-147. [Downloadable!]
  2. Chamberlain, Gary, 1984. "Panel data," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 22, pages 1247-1318 Elsevier. [Downloadable!] (restricted)
  3. Schmidt, Peter & Sickles, Robin C, 1984. "Production Frontiers and Panel Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 2(4), pages 367-74, October.
  4. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July. [Downloadable!] (restricted)
  5. Antonio Alvarez & Carlos Arias, 2003. "Diseconomies of Size with Fixed Managerial Ability," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 85(1), pages 134-142, 02. [Downloadable!] (restricted)
  6. Kenneth Train, 2003. "Discrete Choice Methods with Simulation," Online economics textbooks, SUNY-Oswego, Department of Economics, number emetr2, March. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos Pestana Barros & Rui Cunha Marques, 2008. "Performance of European Airports: Regulation, Ownership and Managerial Efficiency," Working Papers 2008/25, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  2. Hockmann, H. & Pieniadz, A., 2008. "Farm Heterogeneity and Efficiency in Polish Agriculture: A Stochastic Frontier Analysis," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44278, European Association of Agricultural Economists. [Downloadable!]
  3. Mehdi Farsi & Massimo Filippini & William Greene, 2005. "Efficiency Measurement in Network Industries: Application to the Swiss Railway Companies," Journal of Regulatory Economics, Springer, vol. 28(1), pages 69-90, 07. [Downloadable!] (restricted)
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This page was last updated on 2009-12-2.

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