IDEAS home Printed from https://ideas.repec.org/a/eee/ecolec/v60y2006i1p204-215.html
   My bibliography  Save this article

Stochastic frontier analysis of total factor productivity in the offshore oil and gas industry

Author

Listed:
  • Managi, Shunsuke
  • Opaluch, James J.
  • Jin, Di
  • Grigalunas, Thomas A.

Abstract

No abstract is available for this item.

Suggested Citation

  • Managi, Shunsuke & Opaluch, James J. & Jin, Di & Grigalunas, Thomas A., 2006. "Stochastic frontier analysis of total factor productivity in the offshore oil and gas industry," Ecological Economics, Elsevier, vol. 60(1), pages 204-215, November.
  • Handle: RePEc:eee:ecolec:v:60:y:2006:i:1:p:204-215
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0921-8009(05)00575-6
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Winston Harrington & Richard D. Morgenstern & Peter Nelson, 2000. "On the accuracy of regulatory cost estimates," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 19(2), pages 297-322.
    2. D. W. Jorgenson & Z. Griliches, 1967. "The Explanation of Productivity Change," Review of Economic Studies, Oxford University Press, vol. 34(3), pages 249-283.
    3. Hulten, Charles R., 1986. "Productivity change, capacity utilization, and the sources of efficiency growth," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 31-50.
    4. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (II): Applications of the Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number fuss1978a.
    5. Deacon Robert T., 1993. "Taxation, Depletion, and Welfare: A Simulation Study of the U.S. Petroleum Resource," Journal of Environmental Economics and Management, Elsevier, vol. 24(2), pages 159-187, March.
    6. Kenneth R. Stollery, 1985. "Environmental Controls in Extractive Industries," Land Economics, University of Wisconsin Press, vol. 62(2), pages 136-144.
    7. Diewert, W Erwin, 1978. "Superlative Index Numbers and Consistency in Aggregation," Econometrica, Econometric Society, vol. 46(4), pages 883-900, July.
    8. Margaret A. Walls, 1994. "Using a 'Hybrid' Approach to Model Oil and Gas Supply: A Case Study of the Gulf of Mexico Outer Continental Shelf," Land Economics, University of Wisconsin Press, vol. 70(1), pages 1-19.
    9. Cutler J. Cleveland & Robert K. Kaufmann, 1997. "Natural Gas in the U.S.: How Far Can Technology Stretch the Resource Base?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 89-108.
    10. Managi, Shunsuke & Opaluch, James J. & Jin, Di & Grigalunas, Thomas A., 2005. "Technological change and petroleum exploration in the Gulf of Mexico," Energy Policy, Elsevier, vol. 33(5), pages 619-632, March.
    11. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521322249.
    12. Pindyck, Robert S, 1978. "The Optimal Exploration and Production of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 841-861, October.
    13. Stijn Reinhard & C. A. Knox Lovell & Geert Thijssen, 2002. "Analysis of Environmental Efficiency Variation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(4), pages 1054-1065.
    14. Meeusen, Wim & van den Broeck, Julien, 1977. "Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 435-444, June.
    15. Managi, Shunsuke & Opaluch, James J. & Jin, Di & Grigalunas, Thomas A., 2004. "Technological change and depletion in offshore oil and gas," Journal of Environmental Economics and Management, Elsevier, vol. 47(2), pages 388-409, March.
    16. Di Jin & DThomas A. Grigalunas, 1993. "Environmental Compliance and Energy Exploration and Production: Application to Offshore Oil and Gas," Land Economics, University of Wisconsin Press, vol. 69(1), pages 82-97.
    17. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
    18. Fuss, Melvyn & McFadden, Daniel (ed.), 1978. "Production Economics: A Dual Approach to Theory and Applications," Elsevier Monographs, Elsevier, edition 1, number 9780444850133.
    19. Shunsuke Managi & SJames J. Opaluch & Di Jin & Thomas A. Grigalunas, 2005. "Environmental Regulations and Technological Change in the Offshore Oil and Gas Industry," Land Economics, University of Wisconsin Press, vol. 81(2).
    20. Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
    21. Livernois, John R & Uhler, Russell S, 1987. "Extraction Costs and the Economics of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 195-203, February.
    22. Gollop, Frank M & Roberts, Mark J, 1983. "Environmental Regulations and Productivity Growth: The Case of Fossil-Fueled Electric Power Generation," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 654-674, August.
    23. Lothgren, Mickael, 1997. "Generalized stochastic frontier production models," Economics Letters, Elsevier, vol. 57(3), pages 255-259, December.
    24. Greene, William H, 1981. "Sample Selection Bias as a Specification Error: Comment," Econometrica, Econometric Society, vol. 49(3), pages 795-798, May.
    25. Marie N. Fagan, 1997. "Resource Depletion and Technical Change: Effects on U.S. Crude Oil Finding Costs from 1977 to 1994," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 91-105.
    26. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (I): The Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number fuss1978.
    27. Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 675-740, June.
    28. Barbera, Anthony J. & McConnell, Virginia D., 1990. "The impact of environmental regulations on industry productivity: Direct and indirect effects," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 50-65, January.
    29. Diewert, W E, 1992. "The Measurement of Productivity," Bulletin of Economic Research, Wiley Blackwell, vol. 44(3), pages 163-198, July.
    30. 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.
    31. Mitch Kunce & Shelby Gerking & William Morgan, 2004. "Environmental and Land Use Regulation in Nonrenewable Resource Industries: Implications from the Wyoming Checkerboard," Land Economics, University of Wisconsin Press, vol. 80(1), pages 76-94.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Assaf, A. George & Barros, Carlos Pestana & Managi, Shunsuke, 2011. "Cost efficiency of Japanese steam power generation companies: A Bayesian comparison of random and fixed frontier models," Applied Energy, Elsevier, vol. 88(4), pages 1441-1446, April.
    2. Xueqing Wang & Yuan Chen & Bingsheng Liu & Yinghua Shen & Hui Sun, 2013. "A total factor productivity measure for the construction industry and analysis of its spatial difference: a case study in China," Construction Management and Economics, Taylor & Francis Journals, vol. 31(10), pages 1059-1071, October.
    3. Barros, Carlos Pestana & Chen, Zhongfei & Managi, Shunsuke & Antunes, Olinda Sequeira, 2013. "Examining the cost efficiency of Chinese hydroelectric companies using a finite mixture model," Energy Economics, Elsevier, vol. 36(C), pages 511-517.
    4. Henningsen, Arne & Bělín, Matěj & Henningsen, Géraldine, 2017. "New insights into the stochastic ray production frontier," Economics Letters, Elsevier, vol. 156(C), pages 18-21.
    5. Makridou, Georgia & Andriosopoulos, Kostas & Doumpos, Michael & Zopounidis, Constantin, 2016. "Measuring the efficiency of energy-intensive industries across European countries," Energy Policy, Elsevier, vol. 88(C), pages 573-583.
    6. Niquidet, Kurt & Nelson, Harry, 2010. "Sawmill production in the interior of British Columbia: A stochastic ray frontier approach," Journal of Forest Economics, Elsevier, vol. 16(4), pages 257-267, December.
    7. Garcia Suarez, F. & Quesada, G. Perez & Molina Ricetto, C., 2018. "Rangeland cattle production in Uruguay: single-output versus multi-output efficiency measures," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277178, International Association of Agricultural Economists.
    8. Osmundsen, Petter & Roll, Kristin Helen & Tveteras, Ragnar, 2012. "Drilling speed—the relevance of experience," Energy Economics, Elsevier, vol. 34(3), pages 786-794.
    9. Pestana Barros, Carlos & Sequeira Antunes, Olinda, 2011. "Performance assessment of Portuguese wind farms: Ownership and managerial efficiency," Energy Policy, Elsevier, vol. 39(6), pages 3055-3063, June.
    10. Kortelainen, Mika, 2008. "Estimation of semiparametric stochastic frontiers under shape constraints with application to pollution generating technologies," MPRA Paper 9257, University Library of Munich, Germany.
    11. Barros, C.P. & Assaf, A., 2009. "Bootstrapped efficiency measures of oil blocks in Angola," Energy Policy, Elsevier, vol. 37(10), pages 4098-4103, October.
    12. Gerardo Antonio Buchelli Lozano & Jhon Jairo Marín Restrepo, 2012. "Estimación de la eficiencia del sector metalmecánico en colombia: análisis de frontera estocástica," Revista Cuadernos de Economía, Universidad Nacional de Colombia -FCE - CID, December.
    13. Managi, Shunsuke & Kaneko, Shinji, 2009. "Environmental performance and returns to pollution abatement in China," Ecological Economics, Elsevier, vol. 68(6), pages 1643-1651, April.
    14. Chen, Zhongfei & Barros, Carlos Pestana & Borges, Maria Rosa, 2015. "A Bayesian stochastic frontier analysis of Chinese fossil-fuel electricity generation companies," Energy Economics, Elsevier, vol. 48(C), pages 136-144.
    15. Carlos Pestana Barros & Shunsuke Managi & Yuichiro Yoshida, 2010. "Technical Efficiency, Regulation And Heterogeneity In Japanese Airports," Pacific Economic Review, Wiley Blackwell, vol. 15(5), pages 685-696, December.
    16. Menegaki, Angeliki N., 2013. "Accounting for unobserved management in renewable energy & growth," Energy, Elsevier, vol. 63(C), pages 345-355.
    17. Barros, Carlos Pestana & Managi, Shunsuke, 2009. "Regulation, pollution and heterogeneity in Japanese steam power generation companies," Energy Policy, Elsevier, vol. 37(8), pages 3109-3114, August.
    18. Nitin Gupta, 2012. "The Evolution of Manufacturing Efficiency: Evidence from Indian States," ASARC Working Papers 2012-13, The Australian National University, Australia South Asia Research Centre.
    19. Gong, Binlei, 2018. "Different behaviors in natural gas production between national and private oil companies: Economics-driven or environment-driven?," Energy Policy, Elsevier, vol. 114(C), pages 145-152.
    20. Kumar, Surender & Managi, Shunsuke, 2009. "Energy price-induced and exogenous technological change: Assessing the economic and environmental outcomes," Resource and Energy Economics, Elsevier, vol. 31(4), pages 334-353, November.
    21. Song, Malin & Peng, Jun & Wang, Jianlin & Zhao, Jiajia, 2018. "Environmental efficiency and economic growth of China: A Ray slack-based model analysis," European Journal of Operational Research, Elsevier, vol. 269(1), pages 51-63.
    22. John E. Tilton, 2013. "Cyclical and Secular Determinants of Productivity in the Copper, Aluminum, Iron Ore, and Coal Industries," Working Papers 2013-11, Colorado School of Mines, Division of Economics and Business.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Julien Daubanes & Pierre Lasserre, 2019. "The supply of non-renewable resources," Canadian Journal of Economics, Canadian Economics Association, vol. 52(3), pages 1084-1111, August.
    2. Deb Kusum Das, 2003. "Manufacturing productivity under varying trade regmies: India in the 1980s and 1990s," Indian Council for Research on International Economic Relations, New Delhi Working Papers 107, Indian Council for Research on International Economic Relations, New Delhi, India.
    3. Forsund, Finn R., 2009. "Good Modelling of Bad Outputs: Pollution and Multiple-Output Production," International Review of Environmental and Resource Economics, now publishers, vol. 3(1), pages 1-38, August.
    4. V. Vandenberghe, 2018. "The Contribution of Educated Workers to Firms’ Efficiency Gains: The Key Role of Proximity to the ‘Local’ Frontier," De Economist, Springer, vol. 166(3), pages 259-283, September.
    5. Sébastien Marchand, 2011. "Technical Efficiency, Farm Size and Tropical Deforestation in the Brazilian Amazonian Forest," CERDI Working papers halshs-00552981, HAL.
    6. Michaelides, Panayotis G. & Vouldis, Angelos T. & Tsionas, Efthymios G., 2010. "Globally flexible functional forms: The neural distance function," European Journal of Operational Research, Elsevier, vol. 206(2), pages 456-469, October.
    7. Van Ha, Nguyen & Kant, Shashi & Maclaren, Virginia, 2008. "Shadow prices of environmental outputs and production efficiency of household-level paper recycling units in Vietnam," Ecological Economics, Elsevier, vol. 65(1), pages 98-110, March.
    8. Dairo Estrada & Poldy Osorio, 2004. "Effects of Financial Capital on Colombian Banking Efficiency," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 22(47), pages 162-201, December.
    9. O'Donnell, Christopher J. & Coelli, Timothy J., 2005. "A Bayesian approach to imposing curvature on distance functions," Journal of Econometrics, Elsevier, vol. 126(2), pages 493-523, June.
    10. Taining Wang & Jinjing Tian & Feng Yao, 2021. "Does high debt ratio influence Chinese firms’ performance? A semiparametric stochastic frontier approach with zero inefficiency," Empirical Economics, Springer, vol. 61(2), pages 587-636, August.
    11. Sushama Murty, 2012. "On the properties of an emission-generating technology and its parametric representation," Discussion Papers 1202, University of Exeter, Department of Economics.
    12. Taining Wang & Jinjing Tian & Feng Yao, 0. "Does high debt ratio influence Chinese firms’ performance? A semiparametric stochastic frontier approach with zero inefficiency," Empirical Economics, Springer, vol. 0, pages 1-50.
    13. Marchand, Sébastien, 2012. "The relationship between technical efficiency in agriculture and deforestation in the Brazilian Amazon," Ecological Economics, Elsevier, vol. 77(C), pages 166-175.
    14. Shaik, Saleem, 2011. "Does accounting for inefficiency affect the time-varying short and long-run returns to scale?," IAMO Forum 2011: Will the "BRICs Decade" Continue? – Prospects for Trade and Growth 11, Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO).
    15. Managi, Shunsuke & Kumar, Surender, 2009. "Trade-induced technological change: Analyzing economic and environmental outcomes," Economic Modelling, Elsevier, vol. 26(3), pages 721-732, May.
    16. Wenjuan Xie, 2013. "Do Investors See Through Accounting Profitability and Recognize Efficiency? Evidence from Chinese Listed Companies," Multinational Finance Journal, Multinational Finance Journal, vol. 17(3-4), pages 243-293, September.
    17. Luis R. Murillo‐Zamorano, 2004. "Economic Efficiency and Frontier Techniques," Journal of Economic Surveys, Wiley Blackwell, vol. 18(1), pages 33-77, February.
    18. Kwon, Oh Sang & Yun, Won-Cheol & Hwan An, Dong, 2005. "Market value for thermal energy of cogeneration:: using shadow price estimation applied to cogeneration systems in Korea," Energy Policy, Elsevier, vol. 33(14), pages 1789-1795, September.
    19. Mohottala G. Kularatne & Namal N. Balasooriya & Sean Pascoe & Clevo Wilson, 2017. "Is there a locational productivity advantage for rice cultivation? Results from a technical efficiency analysis of water use in Sri Lankan village irrigation systems," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 19(4), pages 789-806, October.
    20. Perelman, Sergio & Santín, Daniel, 2009. "How to generate regularly behaved production data? A Monte Carlo experimentation on DEA scale efficiency measurement," European Journal of Operational Research, Elsevier, vol. 199(1), pages 303-310, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:60:y:2006:i:1:p:204-215. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: http://www.elsevier.com/locate/ecolecon .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolecon .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.