Productivity and efficiency with discrete variables and quadratic cost function |
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Authors: | Eduardo Martinez-Budria Juan Jose Diaz-Hernandez |
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Affiliation: | a Instituto Universitario de Desarrollo Regional and Departamento de Análisis Económico, Camino de La Hornera s/n, Universidad de La Laguna, 38071 La Laguna, S/C de Tenerife, España b Departamento de Ingeniería Civil, Blanco Encalada 2120, Universidad de Chile, Santiago, Chile |
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Abstract: | We propose an index of productivity based on a quadratic cost function and developed for discrete data including technical and allocative inefficiency, jointly with technical change and returns to scale, as determinants of Total Factor Productivity. This new index is applied to Spanish stevedoring industry so as to identify the sources of change in the productivity of a multiproductive activity, where some companies do not produce some of the outputs. In this context, the functional quadratic form and the productivity index proposed prove particularly useful. |
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Keywords: | Productivity Quadratic cost function Inefficiency Discrete data |
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