On the Functional Form of an Efficiency Index |
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Authors: | Hougaard Jens Leth Keiding Hans |
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Institution: | (1) Institute of Management Science and Statistics, Copenhagen Business School, Julius Thomsens Plads 10, DK-1925 Frederiksberg C, Denmark;(2) Institute of Economics, University of Copenhagen, Studiestraede 6, DK-1455 Copenhagen K, Denmark |
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Abstract: | An input efficiency index gives a numeric assessment of the degree to which a given input combination falls short of being efficient in producing a fixed amount of output. This paper presents a system of axioms which characterise a certain family of efficiency indices containing the well-known Farrell and Färe-Lovell indices. The family of indices satisfying the axioms can be obtained by minimizing a suitable function, called a performance evaluation, and different choices of performance evaluation will result in different indices. |
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Keywords: | Productivity input efficiency efficiency index |
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