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Exact and superlative measurement of the Luenberger- Hicks-Moorsteen productivity indicator

Author

Listed:
  • Ang, Frederic

    (Department of Economics, Swedish University of Agricultural Sciences)

  • Kerstens, Peter Jan

    (Center for Economic Studies)

Abstract

This paper shows that the Bennet-Bowley profit indicator is an exact and superlative approximation of the additively complete Luenberger Hicks Moorsteen productivity indicator when the input and output directional distance functions can be represented up to the second order by a quadratic functional form. It also establishes the conditions under which the exact and superlative measures of the Luenberger productivity indicator and Luenberger- Hicks-Moorsteen productivity indicator coincide.

Suggested Citation

  • Ang, Frederic & Kerstens, Peter Jan, 2017. "Exact and superlative measurement of the Luenberger- Hicks-Moorsteen productivity indicator," Working Paper Series 2017:1, Swedish University of Agricultural Sciences, Department Economics.
    • Handle: RePEc:hhs:slueko:2017_001
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    File URL: https://www.researchgate.net/publication/312819224_Exact_and_superlative_measurement_of_the_Luenberger-Hicks-Moorsteen_productivity_indicator
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    Cited by:

    1. Ang, Frederic & Kerstens, Pieter Jan, 2020. "A superlative indicator for the Luenberger-Hicks-Moorsteen productivity indicator: Theory and application," European Journal of Operational Research, Elsevier, vol. 285(3), pages 1161-1173.

    More about this item

    Keywords

    Bennet-Bowley; diff erence based indicator; total factor productivity; exact and superlative approximation;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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