Modelling Exogenous Variables in Human Capital Formation through a Heteroscedastic Stochastic Frontier |
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| Authors: | Tiziana Laureti |
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| Institution: | (1) Department of Economics, University of Tuscia, Via del Paradiso, 47, 01100 Viterbo, Italy |
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| Abstract: | The objective of this paper is to suggest the use of a stochastic frontier model in which the inefficiency component is heteroscedastic
in the measurement of technical efficiency in Human Capital Formation in the Italian University System. The heteroscedastic
frontier model enables one to consider the effect of students’ individual characteristics and the influences of the resources
and organization of the specific faculty on efficiency. The suggested model is applied to the case of Florence University
graduates. The results show that the model specification is strongly supported by the data. Moreover, the suggested specification
explains variation in technical efficiency in terms of graduate-specific factors. The technical efficiency scores obtained
are comparable across faculties.
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| Keywords: | Heteroscedasticity Stochastic frontier production model Technical efficiency estimates Human capital formation |
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