A Luenberger-Hicks-Moorsteen productivity indicator: its relation to the Hicks-Moorsteen productivity index and the Luenberger productivity indicator |
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Authors: | Email author" target="_blank">Walter?BriecEmail author Kristiaan?Kerstens |
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Institution: | (1) JEREM, Université de Perpignan, 54 Avenue Villeneuve, 66000 Perpignan, FRANCE;(2) IESEG, CNRS-LABORES (URA 362), 3 rue de la Digue, 59800 Lille, FRANCE |
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Abstract: | Summary. Introducing a new difference-based Luenberger-Hicks-Moorsteen productivity indicator, this contribution establishes theoretically its relations with some existing ratio- and difference-based productivity indexes and indicators. The first main result is an approximation proposition stating that the logarithm of the Hicks-Moorsteen productivity index is about equal to the Luenberger-Hicks-Moorsteen productivity indicator. Secondly, we also establish the specific conditions under which the Luenberger-Hicks-Moorsteen indicator equals the recently introduced Luenberger indicator and compare these to the conditions governing the relations between ratio-based Hicks-Moorsteen and Malmquist indices.Received: 2 May 2002, Revised: 19 May 2003, JEL Classification Numbers:
C43, D21, D24.We are grateful for the most constructive remarks of a referee. Obviously, the authors remain solely responsible for any residual shortcomings.
Correspondence to: W. Briec |
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Keywords: | Malmquist productivity index Hicks-Moorsteen productivity index Luenberger productivity indicator Luenberger-Hicks-Moorsteen productivity indicator |
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