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1.
The methodologies that have been used in existing research to assess the efficiency with which organic farms are operating
are generally based either on the stochastic frontier methodology or on a deterministic non-parametric approach. Recently,
Kumbhakar et al. (J Econom 137:1–27, 2007) proposed a new nonparametric, stochastic method based on the local maximum likelihood
principle. We use this methodology to compare the efficiency ratings of organic and conventional arable crop farms in the
Spanish region of Andalucía. Nonparametrically encompassing the stochastic frontier model is especially useful when comparing
the performance of two groups that are likely to be characterized by different production technologies.
相似文献
Teresa SerraEmail: Email: |
2.
Cost efficiency of Slovenian water distribution utilities: an application of stochastic frontier methods 总被引:2,自引:1,他引:1
Massimo Filippini Nevenka Hrovatin Jelena Zorić 《Journal of Productivity Analysis》2008,29(2):169-182
This study estimates cost inefficiency and economies of scale of Slovenian water distribution utilities over the 1997–2003
period by employing several different stochastic frontier methods. The results indicate that significant cost inefficiencies
are present in the utilities. An introduction of incentive-based price regulation scheme might help resolve this problem.
However, the inefficiency scores obtained from different cost frontier models are not found to be robust. The levels of inefficiency
estimates as well as the rankings depend on the econometric specification of the model. The established lack of robustness
can be at least partly explained by different ability of the models to separate unobserved heterogeneity from inefficiency.
Newly proposed true fixed effects model (Greene, J Econom 126:269–303, 2005; J Prod Anal 23(1):7–32, 2005) appears to perform
better than the conventional panel data models with respect to distinguishing between unobserved heterogeneity and inefficiency.
On the other hand, different models produce fairly robust results with respect to estimates of economies of output density,
customer density and economies of scale. The optimal size of a company is found to closely corresponds to the sample median.
Economies of scale are found in small-sized utilities, while large companies exhibit diseconomies of scale.
相似文献
Jelena Zorić (Corresponding author)Email: |
3.
This paper presents a new test of the permanent income hypothesis in five major industrial countries. The test first decomposes
consumption and income into their long run trend (permanent) and short run cyclical (transitory) components, using the recently
developed multivariate stochastic detrending approach developed by Vahid and Engle (1997), among others. This approach exploits the presence of possible common stochastic trends and cycles among the variables in
the system to arrive at a more efficient decomposition of these variables. Using the decomposition results, and in contrast
to many articles in the literature, the paper finds support for the permanent income hypothesis. Specifically, the paper finds
that, while permanent consumption is related to permanent income, transitory consumption is related to neither permanent nor
transitory income.
相似文献
Barry Wilbratte (Corresponding author)Email: |
4.
This article generalizes production risk from a single output production function to a multiple output cost frontier, which is able to examine input-oriented technical efficiencies and production risk simultaneously in the context of a panel data. Furthermore, the joint confidence interval estimates for technical efficiencies are constructed by means of multiple comparisons with the best approach. Whether taking production risk into account or not offers quite dissimilar implications in terms of the average technical efficiency measure and the identification of multiple efficient banks achieving the optimal cost frontier. It is suggested that inferences drawn on the basis of the confidence intervals of technical efficiency provide much more fruitful and insightful information than the point estimation alone. Bank specific risk parameters are found to be highly and positively correlated with fixed-effect estimates, implying that the more risk-averse a bank is, the more technically efficient it will be.
相似文献
Tong-Liang KaoEmail: |
5.
This paper shows how to compute the standard errors for partial effects of exogenous firm characteristics influencing firm
inefficiency under a range of popular stochastic frontier model specifications. We also develop an R2-type measure to summarize the overall explanatory power of the exogenous factors on firm inefficiency. The paper also applies
a recently developed model selection procedure to choose among alternative stochastic frontier specifications using data from
household maize production in Kenya. The magnitude of estimated partial effects of exogenous household characteristics on
inefficiency turns out to be very sensitive to model specification, and the model selection procedure leads to an unambiguous
choice of best model. We propose a bootstrapping procedure to evaluate the size and power of the model selection procedure.
The empirical application also provides further evidence on how household characteristics influence technical inefficiency
in maize production in developing countries.
相似文献
Yanyan LiuEmail: |
6.
Jens Müller 《Journal of Productivity Analysis》2008,30(2):99-106
We present and discuss measures for analyzing productivity in deterministic frontier models. A new efficiency measure is introduced
allowing for discrimination among efficient organizational units. In addition, a new performance measure for analyzing productivity of organizational units is presented. This measure fulfills various properties of efficiency measures
but relaxes the indicator property. Both new approaches are based on the development of efficiency vectors which is a new vector measure for measuring efficiency. The vector components are efficiency measures related to subsets
of a production possibility set. The new approaches are applied in the context of data envelopment analysis.
相似文献
Jens MüllerEmail: |
7.
Laurent Weill 《Journal of Productivity Analysis》2008,29(2):79-89
This paper aims at comparing macroeconomic performance of three European socialist economies (Hungary, Poland, Yugoslavia)
with developing and developed countries during the 1970s and the 1980s. Using panel data for 89 countries, we measure macroeconomic
performance with two panel data production frontier models: the WITHIN model proposed by (Cornwell et al J Econom 46:185–200,
1990), and the firm effects model developed by (Battese and Coelli J Prod Anal 3:153–169, 1992). We conclude in favor of the
underperformance of socialist countries in relation to developed countries but also to developing countries in most cases,
which may be explained by the features of the socialist economic system.
相似文献
Laurent WeillEmail: |
8.
Arnab Bhattacharjee Eduardo de Castro Chris Jensen-Butler 《Journal of Productivity Analysis》2009,31(3):195-212
We develop a model of labor productivity as a combination of capital-labour ratio, vintage of capital stock, regional externalities,
and total factor productivity (TFP). The skewness of TFP distribution is related to different growth theories. While negative
skewness is consistent with the neo-Schumpeterian idea of catching up with leaders, zero skewness supports the neoclassical
view that deviations from the frontier reflect only idiosyncratic productivity shocks. We argue that positive skewness is
consistent with an economy where exogenous technology is combined with non-transferable knowledge accumulated in specific
sectors and regions. This argument provides the framework for an empirical model based on stochastic frontier analysis. The
model is used to analyse regional and sectoral inequalities in Denmark.
相似文献
Arnab BhattacharjeeEmail: |
9.
Analysis of the behavior of technical inefficiency with respect to parameters and variables of a stochastic frontier model
is a neglected area of research in frontier literature. An attempt in this direction, however, has recently been made. It
has been shown that in a “standard” stochastic frontier model that both the firm level technical inefficiency and the production
uncertainty are monotonically decreasing with observational error. In this paper we show, considering a stochastic frontier
model whose error components are jointly distributed as truncated bivariate normal, that this property holds if and only if
the distribution of observational error is negatively skewed. We also derive a necessary and sufficient condition under which
both firm level technical inefficiency and production uncertainty are monotonically increasing with noise-inefficiency correlation.
We next propose a new measure of the industry level production uncertainty and establish the necessary and sufficient condition
for firm level technical inefficiency and production uncertainty to be monotonically increasing with industry level production
uncertainty. We also study the limiting probabilistic behavior of these conditions under different parametric configuration
of our model. Finally we carry out Monte Carlo simulations to study the sample behavior of the population monotonic property
of the firm level technical inefficiency and production uncertainty in our model.
相似文献
Arabinda DasEmail: |
10.
In this paper we develop a test of infinite order degree stochastic dominance based on the use of the empirical Laplace transform
function. Two applications are considered. One uses the income data of Anderson (Econometrica 64:1183–1193, 1996) and derives results consistent with his. In the other application we examine the dominance between the U.S. and U.K. stock
markets. Using data on the S&P 500 and the FTALL-Share we show that the U.S. displays infinite order degree stochastic dominance
of the U.K.
相似文献
Stephen SatchellEmail: |
11.
Alexandra M. Schmidt Ajax R. B. Moreira Steven M. Helfand Thais C. O. Fonseca 《Journal of Productivity Analysis》2009,31(2):101-112
This paper analyzes the productivity of farms across 370 municipalities in the Center-West region of Brazil. A stochastic
frontier model with a latent spatial structure is proposed to account for possible unknown geographical variation of the outputs.
The paper compares versions of the model that include the latent spatial effect in the mean of output or as a variable that
conditions the distribution of inefficiency, include or not observed municipal variables, and specify independent normal or
conditional autoregressive priors for the spatial effects. The Bayesian paradigm is used to estimate the proposed models.
As the resultant posterior distributions do not have a closed form, stochastic simulation techniques are used to obtain samples
from them. Two model comparison criteria provide support for including the latent spatial effects, even after considering
covariates at the municipal level. Models that ignore the latent spatial effects produce significantly different rankings
of inefficiencies across agents.
相似文献
Alexandra M. SchmidtEmail: URL: www.dme.ufrj.br/∼alex |
12.
Measuring performance in the presence of stochastic demand for hospital services: an analysis of Belgian general care hospitals 总被引:1,自引:1,他引:0
Mike Smet 《Journal of Productivity Analysis》2007,27(1):13-29
Since demand for hospital services is subject to substantial variability, the relationship between uncertain demand, excess
capacity, hospital costs and performance should be investigated thoroughly. In this paper a waiting time indicator to proxy
hospital standby capacity is incorporated into a multi-product translog cost function for Belgian general care hospitals.
The indicator is derived from queuing theory and improves on the conventionally used (inverse of the) occupancy rate. The
multi-product stochastic frontier specification allows calculation of cost elasticities and marginal cost of seven hospital
departments, as well as the degree of economies of scale and scope and enables identification of differences in efficiency.
相似文献
Mike SmetEmail: |
13.
The effects of match uncertainty and bargaining on labor market outcomes: evidence from firm and worker specific estimates 总被引:3,自引:0,他引:3
In this paper we examine wage dispersion in labor markets across currently employed workers. We argue that differences in
the potential productivity of a match (typically assumed to be known in the previous literature) generates a surplus between
the minimum wage the worker is willing to accept and the maximum wage the firm is willing to offer for the job. Existence
of this surplus leads to wage dispersion due to negotiating over the amounts extracted by each agent. Our objective is to
estimate the surplus extracted by each firm-worker pair and the effect of the net extracted surplus on the wage, for each
firm-worker pair using the two-tier stochastic frontier model. An empirical application finds that, on average, firms paid
workers less than their expected productivity. More specifically, at the mean, the net effect of productivity uncertainty
leads to equilibrium wages which are 3.33% below the expected productivity of matches.
相似文献
Christopher F. ParmeterEmail: |
14.
Efficient frontier estimation: a maximum entropy approach 总被引:1,自引:0,他引:1
An alternative efficiency estimation approach is developed utilizing generalized maximum entropy (GME). GME combines the strengths
of both SFA and DEA, allowing for the estimation of a frontier that is stochastic, without making an ad hoc assumption about
the distribution of the efficiency component. GME results approach SFA results as the one-sided inefficiency bounds used by
GME shrink. Results similar to DEA are achieved as the bounds increase. The GME results are distributed like DEA, but yield
virtually the same rankings as SFA. The results suggest that GME may provide a link between various estimators of efficiency.
相似文献
Jon RezekEmail: |
15.
Efficiency analysis of East European electricity distribution in transition: legacy of the past? 总被引:1,自引:0,他引:1
This paper provides a cross-country efficiency analysis of electricity distribution companies in the East European transition
countries of Poland, the Czech Republic, Slovakia and Hungary. We use common nonparametric efficiency measurement such as
Data Envelopment Analysis (DEA) and Free Disposal Hull (FDH) under different assumptions and apply recent developments of
statistical inference in nonparametric frontier models to test our hypotheses. We discuss the empirical problems of cross-country
benchmarking approaches, in particular the comparability of different structures of electricity distribution companies. Our
results suggest that Poland’s distribution companies are still inefficiently small; the Czech Republic features the highest
efficiency; and Slovakia and Hungary occupy the middle range. We also note that privatization has had a positive effect on
technical efficiency in the four countries. We use the phrase “legacy of the past” to describe the four countries in comparison
to the efficiency of electricity distribution companies we studied in Germany.
相似文献
Christian von HirschhausenEmail: |
16.
An examination of the performance and prospects for the future of internet-primary banks 总被引:1,自引:0,他引:1
We study Internet-primary banks for differences in performance versus newly chartered traditional banks from 1996 through
2003. Internet-primary banks are larger, with lower net interest margins and loan losses, and higher wage and physical capital
rates than newly chartered traditional banks. Univariate ROE is lower, but profit efficiency is significantly higher on average
for Internet-primary banks compared to all newly chartered banks as well as those that survive through the sample period.
In multivariate models, Internet-primary banks continue to have significantly higher average profit efficiency, and particularly
so when of sufficient size.
相似文献
Ross DickensEmail: |
17.
This paper introduces new and flexible classes of inefficiency distributions for stochastic frontier models. We consider both
generalized gamma distributions and mixtures of generalized gamma distributions. These classes cover many interesting cases
and accommodate both positively and negatively skewed composed error distributions. Bayesian methods allow for useful inference
with carefully chosen prior distributions. We recommend a two-component mixture model where a sensible amount of structure
is imposed through the prior to distinguish the components, which are given an economic interpretation. This setting allows
for efficiencies to depend on firm characteristics, through the probability of belonging to either component. Issues of label-switching
and separate identification of both the measurement and inefficiency errors are also examined. Inference methods through MCMC
with partial centring are outlined and used to analyse both simulated and real data. An illustration using hospital cost data
is discussed in some detail.
相似文献
M. F. J. SteelEmail: |
18.
Application of a double bootstrap to investigation of determinants of technical efficiency of farms in Central Europe 总被引:1,自引:1,他引:0
The paper provides one of the first applications of the double bootstrap procedure (Simar and Wilson 2007) in a two-stage estimation of the effect of environmental variables on non-parametric estimates of technical efficiency.
This procedure enables consistent inference within models explaining efficiency scores, while simultaneously producing standard
errors and confidence intervals for these efficiency scores. The application is to 88 livestock and 256 crop farms in the
Czech Republic, split into individual and corporate.
相似文献
Laure LatruffeEmail: |
19.
This paper proposes a flexible time-varying stochastic frontier model. Similarly to Lee and Schmidt [1993, In: Fried H, Lovell
CAK, Schmidt S (eds) The measurement of productive efficiency: techniques and applications. Oxford University Press, Oxford],
we assume that individual firms’ technical inefficiencies vary over time. However, the model, which we call the “multiple
time-varying individual effects” model, is more general in that it allows multiple factors determining firm-specific time-varying
technical inefficiencies. This allows the temporal pattern of inefficiency to vary over firms. The number of such factors
can be consistently estimated. The model is applied to data on Indonesian rice farms, and the changes in the efficiency rankings
of farms over time demonstrate the model’s flexibility.
相似文献
Young H. LeeEmail: |
20.
José Ernesto Amorós Oscar Cristi 《The International Entrepreneurship and Management Journal》2008,4(4):381-399
This study analyzes the relationship between entrepreneurial dynamics in Latin-American countries and the level of competitiveness
these countries show. Based on the research conducted by Wennekers et al. [Small Business Economics, 24(3):293–309, 2005] that demonstrates a U-shaped relationship between the country’s rate of entrepreneurship and its level
of competitiveness and economic development, we hypothesize that Latin-American countries have a descending behaviour under
the U-shaped curve approach. The results from three regression models support this hypothesis and suggest that competitiveness
and economic growth deter entrepreneurial dynamics on Latin-American countries. We discuss that Latin-American countries need
to improve some structural factors to achieve a high level of entrepreneurial dynamics.
相似文献
Oscar CristiEmail: |