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The Hicks-Moorsteen Productivity Index Satisfies the Determinateness Axiom

  • Walter Briec

    (University of Perpignan)

  • Kristiaan Kerstens

    ()

    (CNRS-LEM (UMR 8179), IESEG School of Management)

There are two total factor productivity indices available in the literature based on a primal notion of the technology. In a ratio tradition, these are the Malmquist and the HicksMoorsteen productivity indices. In a difference perspective, the Luenberger and Luenberger-Hicks-Moorsteen productivity indicators are based upon a sightly different concept. The purpose of this note is to establish that -in contrast to the Malmquist index- the Hicks-Moorsteen type of productivity index (as well as its difference-based counterpart) is well-defined and satisfies the determinateness property, since the underlying distance functions are always feasible.

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Paper provided by IESEG School of Management in its series Working Papers with number 2008-ECO-10.

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Length: 12 pages
Date of creation: Feb 2008
Date of revision:
Handle: RePEc:ies:wpaper:e200810
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  1. Robert G. Chambers, 2002. "Exact nonradial input, output, and productivity measurement," Economic Theory, Society for the Advancement of Economic Theory (SAET), vol. 20(4), pages 751-765.
  2. Nemoto, Jiro & Goto, Mika, 2005. "Productivity, efficiency, scale economies and technical change: A new decomposition analysis of TFP applied to the Japanese prefectures," Journal of the Japanese and International Economies, Elsevier, vol. 19(4), pages 617-634, December.
  3. Fare, Rolf & Knox Lovell, C. A., 1978. "Measuring the technical efficiency of production," Journal of Economic Theory, Elsevier, vol. 19(1), pages 150-162, October.
  4. Samuelson, Paul A & Swamy, S, 1974. "Invariant Economic Index Numbers and Canonical Duality: Survey and Synthesis," American Economic Review, American Economic Association, vol. 64(4), pages 566-93, September.
  5. Walter Briec & Kristiaan Kerstens, 2004. "A Luenberger-Hicks-Moorsteen productivity indicator: its relation to the Hicks-Moorsteen productivity index and the Luenberger productivity indicator," Economic Theory, Society for the Advancement of Economic Theory (SAET), vol. 23(4), pages 925-939, May.
  6. Antonio Estache & Sergio Perelman & Lourdes Trujillo, 2007. "Measuring Quantity-Quality Trade-Offs In Regulation: The Brazilian Freight Railways Case ," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 78(1), pages 1-20, 03.
  7. Ouellette, Pierre & Vierstraete, Valerie, 2004. "Technological change and efficiency in the presence of quasi-fixed inputs: A DEA application to the hospital sector," European Journal of Operational Research, Elsevier, vol. 154(3), pages 755-763, May.
  8. Fare, Rolf, et al, 1997. " Biased Technical Change and the Malmquist Productivity Index," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(1), pages 119-27, March.
  9. Jiro Nemoto & Mika Goto, 2005. "Productivity, Efficiency, Scale Economies and Technical Change: A New Decomposition Analysis," NBER Working Papers 11373, National Bureau of Economic Research, Inc.
  10. Bjurek, Hans, 1996. " The Malmquist Total Factor Productivity Index," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(2), pages 303-13, June.
  11. Fare, Rolf & Grosskopf, Shawna & Roos, Pontus, 1996. "On two definitions of productivity," Economics Letters, Elsevier, vol. 53(3), pages 269-274, December.
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