| Description |
1 online resource (249 p.) |
| Contents |
Cover -- Dynamic Efficiency and Productivity Measurement -- Copyright -- Dedication -- Contents -- Preface -- Introduction -- 1. Overview -- 1.1 What Is a Production Technology? -- 1.2 Production in the Context of Time -- 1.2.1 Short Run versus Long Run and Being in Disequilibrium -- 1.2.2 Changing Capacity -- 1.3 Characterizing Adjustment -- 1.3.1 Adjustment Cost Hypothesis -- 1.3.2 Isoquants -- 1.3.3 Nonconvex Production Relationships -- 1.4 Implications of Adjustment for Measuring Performance -- 2. Primal Analytical Foundations of Dynamic Production Analysis -- 2.1 Introduction |
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2.2 Set Representation of the Adjustment Cost Production Technology -- 2.2.1 Adjustment Cost Production Possibilities Set -- 2.2.2 Adjustment Cost Input Requirement Sets -- 2.2.3 Adjustment Cost Producible Output Sets -- 2.3 The Adjustment Cost Transformation Function -- 2.4 Remarks -- 3. Dynamic Economic Decision Making -- 3.1 Introduction -- 3.2 Bellman's Dynamic Programming Approach -- 3.2.1 Cost Minimization: Two-Period Framework -- 3.2.2 Isocost Analysis -- 3.2.3 Cost Curves in the Short Run and Long Run -- 3.2.4 Profit Maximization -- 3.3 Generalization to the Continuous Time Case |
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3.3.1 Cost Minimization -- 3.3.2 Profit Maximization -- 3.3.3 Dynamic Duality Implications -- 3.4 Formulating the Cost Minimization Problem in Data Envelopment Analysis -- 3.5 Remarks -- 3.5.1 Nonparametric Approaches -- 3.5.2 Parametric Approaches -- 4. Dynamic Decision Making, Distance Functions, and Productive Efficiency -- 4.1 Introduction -- 4.2 Adjustment Cost Directional Distance Functions -- 4.2.1 Directional Technology Distance Function -- 4.2.2 Directional Input Distance Function -- 4.2.3 Directional Output Distance Function |
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4.3 Dynamic Duality and Measurement of Productive Efficiency -- 4.3.1 Intertemporal Cost Minimization and Duality -- 4.3.2 Temporal Cost Inefficiency Measures -- 4.3.3 Temporal Profit Inefficiency Measures -- 4.4 Remarks -- 4.5 Appendix: Proof of Lemmas -- 4.6 Appendix: Proof of Properties DDT.1-DDT.8 -- 4.7 Appendix: Proof of DDI.1-DDI.9 -- 5. Dynamic Structure of Production and Productivity Change -- 5.1 Introduction -- 5.2 Scale, Scope, and Capacity Utilization -- 5.2.1 Scale Elasticity -- 5.2.2 Cost Elasticities and Economics of Size -- 5.2.3 Economics of Scope and Cost Concepts |
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5.2.4 Capacity Utilization -- 5.3 Constructing Measures of Productivity -- 5.3.1 Structural Approach -- 5.3.2 Luenberger Indicator -- 5.4 Remarks -- 6. Econometric Approaches -- 6.1 Introduction -- 6.2 Functional Forms -- 6.3 Structural Parametric Approaches -- 6.3.1 Estimation of Dynamic Inefficiency -- 6.3.2 Estimation of Luenberger Total Factor Productivity Growth -- 6.3.3 Results -- 6.4 Remarks -- 7. Nonparametric Approaches -- 7.1 Introduction -- 7.2 Empirical Nonparametric Construction of Dynamic Efficiency -- 7.2.1 Compute Shadow Value Using the Linear Complementarity Problem |
| Summary |
Productivity and economic performance have generated many studies and considerable discussion in economic policy circles. Yet, theoretical and empirical studies focusing on production efficiency have typically ignored the time interdependence of production decisions and the adjustment firms make over time. This book provides a systematic treatment of dynamic decision making and performance measurement |
| Notes |
Description based upon print version of record |
| Form |
Electronic book
|
| Author |
E. Stefanou, Spiro
|
|
Oude Lansink, Alfons
|
| ISBN |
9780190919498 |
|
0190919493 |
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