Advanced Robust and Nonparametric Methods in Efficiency by Cinzia Daraio

By Cinzia Daraio

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Extra info for Advanced Robust and Nonparametric Methods in Efficiency Analysis: Methodology and Applications (Studies in Productivity and Efficiency)

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The allocative efficiency in economic theory measures a firm’s success in choosing an optimal set of inputs with a given set of input prices; this is distinguished from the technical efficiency concept associated with the production frontier, which measures the firm’s success in producing maximum output from a given set of inputs. e. the extent to which 16 The measurement of efficiency the industry production level is optimally allocated between the firms in the short run. A broad interpretation of Farrell’s notion of structural efficiency can be stated as follows: industry or cluster A is more efficient structurally than industry B, if the distribution of its best firms is more concentrated near its efficient frontier for industry A than for B.

They are thus able to characterize all kinds of technologies without unwarranted output aggregation prior to analysis. The Shephard direct input distance function treats multiple outputs as given and contracts inputs vectors as much as possible consistent with technological feasibility of contracted input vector. Among its several useful properties, one of the most important is the fact that the reciprocal of the direct input distance function has been proposed by Debreu (1951) as a coefficient of resource utilization, and by Farrell (1957) as a measure of technical efficiency.

Among others, Banker, Chang and Cooper (1996) analyse the effects of misspecified variables in DEA. Simar and Wilson (2001) propose a statistical procedure to test for the relevance of inputs/outputs in DEA models. This literature suggests that the development of efficiency analysis is particularly useful if and when it could be used to shed empirical light on the theoretical issues outlined above. 4 Much empirical evidence suggests that although producers may indeed attempt to optimize, they do not always succeed.

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Categories: Operations Research