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

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  • Frederic Ang
  • Pieter Jan Kerstens

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

  • Frederic Ang & Pieter Jan Kerstens, 2017. "Exact and superlative measurement of the Luenberger-Hicks-Moorsteen productivity indicator," Working Papers of Department of Economics, Leuven 568505, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    • Handle: RePEc:ete:ceswps:568505
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