Dynamic Efficiency and Productivity Measurement:
Productivity and economic performance have generated many studies and considerable discussion in economic policy circles. Yet, theoretical and empirical studies focusing on production efficiency have typically ignored the time interdependence of production decisions and the adjustment firms make ove...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Oxford
Oxford University Press, Incorporated
2021
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| Subjects: | |
| Online Access: | UPA01 Volltext |
| Summary: | Productivity and economic performance have generated many studies and considerable discussion in economic policy circles. Yet, theoretical and empirical studies focusing on production efficiency have typically ignored the time interdependence of production decisions and the adjustment firms make over time. This book provides a systematic treatment of dynamic decision making and performance measurement |
| Physical Description: | 1 Online-Ressource (249 Seiten) |
| ISBN: | 9780197537176 9780190919498 |
| DOI: | 10.1093/oso/9780190919474.001.0001 |
Staff View
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| 505 | 8 | |a Cover -- Dynamic Efficiency and Productivity Measurement -- Copyright -- Dedication -- Contents -- Preface -- Introduction -- 1. Overview -- 1.1 What Is a Production Technology? -- 1.2 Production in the Context of Time -- 1.2.1 Short Run versus Long Run and Being in Disequilibrium -- 1.2.2 Changing Capacity -- 1.3 Characterizing Adjustment -- 1.3.1 Adjustment Cost Hypothesis -- 1.3.2 Isoquants -- 1.3.3 Nonconvex Production Relationships -- 1.4 Implications of Adjustment for Measuring Performance -- 2. Primal Analytical Foundations of Dynamic Production Analysis -- 2.1 Introduction -- 2.2 Set Representation of the Adjustment Cost Production Technology -- 2.2.1 Adjustment Cost Production Possibilities Set -- 2.2.2 Adjustment Cost Input Requirement Sets -- 2.2.3 Adjustment Cost Producible Output Sets -- 2.3 The Adjustment Cost Transformation Function -- 2.4 Remarks -- 3. Dynamic Economic Decision Making -- 3.1 Introduction -- 3.2 Bellman's Dynamic Programming Approach -- 3.2.1 Cost Minimization: Two-Period Framework -- 3.2.2 Isocost Analysis -- 3.2.3 Cost Curves in the Short Run and Long Run -- 3.2.4 Profit Maximization -- 3.3 Generalization to the Continuous Time Case -- 3.3.1 Cost Minimization -- 3.3.2 Profit Maximization -- 3.3.3 Dynamic Duality Implications -- 3.4 Formulating the Cost Minimization Problem in Data Envelopment Analysis -- 3.5 Remarks -- 3.5.1 Nonparametric Approaches -- 3.5.2 Parametric Approaches -- 4. Dynamic Decision Making, Distance Functions, and Productive Efficiency -- 4.1 Introduction -- 4.2 Adjustment Cost Directional Distance Functions -- 4.2.1 Directional Technology Distance Function -- 4.2.2 Directional Input Distance Function -- 4.2.3 Directional Output Distance Function -- 4.3 Dynamic Duality and Measurement of Productive Efficiency -- 4.3.1 Intertemporal Cost Minimization and Duality | |
| 505 | 8 | |a 4.3.2 Temporal Cost Inefficiency Measures -- 4.3.3 Temporal Profit Inefficiency Measures -- 4.4 Remarks -- 4.5 Appendix: Proof of Lemmas -- 4.6 Appendix: Proof of Properties DDT.1-DDT.8 -- 4.7 Appendix: Proof of DDI.1-DDI.9 -- 5. Dynamic Structure of Production and Productivity Change -- 5.1 Introduction -- 5.2 Scale, Scope, and Capacity Utilization -- 5.2.1 Scale Elasticity -- 5.2.2 Cost Elasticities and Economics of Size -- 5.2.3 Economics of Scope and Cost Concepts -- 5.2.4 Capacity Utilization -- 5.3 Constructing Measures of Productivity -- 5.3.1 Structural Approach -- 5.3.2 Luenberger Indicator -- 5.4 Remarks -- 6. Econometric Approaches -- 6.1 Introduction -- 6.2 Functional Forms -- 6.3 Structural Parametric Approaches -- 6.3.1 Estimation of Dynamic Inefficiency -- 6.3.2 Estimation of Luenberger Total Factor Productivity Growth -- 6.3.3 Results -- 6.4 Remarks -- 7. Nonparametric Approaches -- 7.1 Introduction -- 7.2 Empirical Nonparametric Construction of Dynamic Efficiency -- 7.2.1 Compute Shadow Value Using the Linear Complementarity Problem -- 7.2.2 Compute Shadow Value from the Dual Problem -- 7.2.3 Compute Shadow Value from the Directional Distance Function -- 7.2.4 Compute Shadow Value from a Parametrically Estimated Value Function -- 7.3 Empirical Construction of the Inner-Bound and Outer- Bound Technologies -- 7.4 Remarks -- 7.5 Appendix: R Code for Estimating Dynamic Technical Inefficiency -- References -- Index | |
| 520 | 3 | |a Productivity and economic performance have generated many studies and considerable discussion in economic policy circles. Yet, theoretical and empirical studies focusing on production efficiency have typically ignored the time interdependence of production decisions and the adjustment firms make over time. This book provides a systematic treatment of dynamic decision making and performance measurement | |
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| contents | Cover -- Dynamic Efficiency and Productivity Measurement -- Copyright -- Dedication -- Contents -- Preface -- Introduction -- 1. Overview -- 1.1 What Is a Production Technology? -- 1.2 Production in the Context of Time -- 1.2.1 Short Run versus Long Run and Being in Disequilibrium -- 1.2.2 Changing Capacity -- 1.3 Characterizing Adjustment -- 1.3.1 Adjustment Cost Hypothesis -- 1.3.2 Isoquants -- 1.3.3 Nonconvex Production Relationships -- 1.4 Implications of Adjustment for Measuring Performance -- 2. Primal Analytical Foundations of Dynamic Production Analysis -- 2.1 Introduction -- 2.2 Set Representation of the Adjustment Cost Production Technology -- 2.2.1 Adjustment Cost Production Possibilities Set -- 2.2.2 Adjustment Cost Input Requirement Sets -- 2.2.3 Adjustment Cost Producible Output Sets -- 2.3 The Adjustment Cost Transformation Function -- 2.4 Remarks -- 3. Dynamic Economic Decision Making -- 3.1 Introduction -- 3.2 Bellman's Dynamic Programming Approach -- 3.2.1 Cost Minimization: Two-Period Framework -- 3.2.2 Isocost Analysis -- 3.2.3 Cost Curves in the Short Run and Long Run -- 3.2.4 Profit Maximization -- 3.3 Generalization to the Continuous Time Case -- 3.3.1 Cost Minimization -- 3.3.2 Profit Maximization -- 3.3.3 Dynamic Duality Implications -- 3.4 Formulating the Cost Minimization Problem in Data Envelopment Analysis -- 3.5 Remarks -- 3.5.1 Nonparametric Approaches -- 3.5.2 Parametric Approaches -- 4. Dynamic Decision Making, Distance Functions, and Productive Efficiency -- 4.1 Introduction -- 4.2 Adjustment Cost Directional Distance Functions -- 4.2.1 Directional Technology Distance Function -- 4.2.2 Directional Input Distance Function -- 4.2.3 Directional Output Distance Function -- 4.3 Dynamic Duality and Measurement of Productive Efficiency -- 4.3.1 Intertemporal Cost Minimization and Duality 4.3.2 Temporal Cost Inefficiency Measures -- 4.3.3 Temporal Profit Inefficiency Measures -- 4.4 Remarks -- 4.5 Appendix: Proof of Lemmas -- 4.6 Appendix: Proof of Properties DDT.1-DDT.8 -- 4.7 Appendix: Proof of DDI.1-DDI.9 -- 5. Dynamic Structure of Production and Productivity Change -- 5.1 Introduction -- 5.2 Scale, Scope, and Capacity Utilization -- 5.2.1 Scale Elasticity -- 5.2.2 Cost Elasticities and Economics of Size -- 5.2.3 Economics of Scope and Cost Concepts -- 5.2.4 Capacity Utilization -- 5.3 Constructing Measures of Productivity -- 5.3.1 Structural Approach -- 5.3.2 Luenberger Indicator -- 5.4 Remarks -- 6. Econometric Approaches -- 6.1 Introduction -- 6.2 Functional Forms -- 6.3 Structural Parametric Approaches -- 6.3.1 Estimation of Dynamic Inefficiency -- 6.3.2 Estimation of Luenberger Total Factor Productivity Growth -- 6.3.3 Results -- 6.4 Remarks -- 7. Nonparametric Approaches -- 7.1 Introduction -- 7.2 Empirical Nonparametric Construction of Dynamic Efficiency -- 7.2.1 Compute Shadow Value Using the Linear Complementarity Problem -- 7.2.2 Compute Shadow Value from the Dual Problem -- 7.2.3 Compute Shadow Value from the Directional Distance Function -- 7.2.4 Compute Shadow Value from a Parametrically Estimated Value Function -- 7.3 Empirical Construction of the Inner-Bound and Outer- Bound Technologies -- 7.4 Remarks -- 7.5 Appendix: R Code for Estimating Dynamic Technical Inefficiency -- References -- Index |
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| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1093/oso/9780190919474.001.0001 |
| format | Electronic eBook |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T21:16:05Z |
| indexdate | 2024-07-10T09:44:31Z |
| institution | BVB |
| isbn | 9780197537176 9780190919498 |
| language | English |
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| publisher | Oxford University Press, Incorporated |
| record_format | marc |
| spelling | Silva, Elvira Verfasser (DE-588)171918622 aut Dynamic Efficiency and Productivity Measurement Oxford Oxford University Press, Incorporated 2021 © 2021 1 Online-Ressource (249 Seiten) txt rdacontent c rdamedia cr rdacarrier Cover -- Dynamic Efficiency and Productivity Measurement -- Copyright -- Dedication -- Contents -- Preface -- Introduction -- 1. Overview -- 1.1 What Is a Production Technology? -- 1.2 Production in the Context of Time -- 1.2.1 Short Run versus Long Run and Being in Disequilibrium -- 1.2.2 Changing Capacity -- 1.3 Characterizing Adjustment -- 1.3.1 Adjustment Cost Hypothesis -- 1.3.2 Isoquants -- 1.3.3 Nonconvex Production Relationships -- 1.4 Implications of Adjustment for Measuring Performance -- 2. Primal Analytical Foundations of Dynamic Production Analysis -- 2.1 Introduction -- 2.2 Set Representation of the Adjustment Cost Production Technology -- 2.2.1 Adjustment Cost Production Possibilities Set -- 2.2.2 Adjustment Cost Input Requirement Sets -- 2.2.3 Adjustment Cost Producible Output Sets -- 2.3 The Adjustment Cost Transformation Function -- 2.4 Remarks -- 3. Dynamic Economic Decision Making -- 3.1 Introduction -- 3.2 Bellman's Dynamic Programming Approach -- 3.2.1 Cost Minimization: Two-Period Framework -- 3.2.2 Isocost Analysis -- 3.2.3 Cost Curves in the Short Run and Long Run -- 3.2.4 Profit Maximization -- 3.3 Generalization to the Continuous Time Case -- 3.3.1 Cost Minimization -- 3.3.2 Profit Maximization -- 3.3.3 Dynamic Duality Implications -- 3.4 Formulating the Cost Minimization Problem in Data Envelopment Analysis -- 3.5 Remarks -- 3.5.1 Nonparametric Approaches -- 3.5.2 Parametric Approaches -- 4. Dynamic Decision Making, Distance Functions, and Productive Efficiency -- 4.1 Introduction -- 4.2 Adjustment Cost Directional Distance Functions -- 4.2.1 Directional Technology Distance Function -- 4.2.2 Directional Input Distance Function -- 4.2.3 Directional Output Distance Function -- 4.3 Dynamic Duality and Measurement of Productive Efficiency -- 4.3.1 Intertemporal Cost Minimization and Duality 4.3.2 Temporal Cost Inefficiency Measures -- 4.3.3 Temporal Profit Inefficiency Measures -- 4.4 Remarks -- 4.5 Appendix: Proof of Lemmas -- 4.6 Appendix: Proof of Properties DDT.1-DDT.8 -- 4.7 Appendix: Proof of DDI.1-DDI.9 -- 5. Dynamic Structure of Production and Productivity Change -- 5.1 Introduction -- 5.2 Scale, Scope, and Capacity Utilization -- 5.2.1 Scale Elasticity -- 5.2.2 Cost Elasticities and Economics of Size -- 5.2.3 Economics of Scope and Cost Concepts -- 5.2.4 Capacity Utilization -- 5.3 Constructing Measures of Productivity -- 5.3.1 Structural Approach -- 5.3.2 Luenberger Indicator -- 5.4 Remarks -- 6. Econometric Approaches -- 6.1 Introduction -- 6.2 Functional Forms -- 6.3 Structural Parametric Approaches -- 6.3.1 Estimation of Dynamic Inefficiency -- 6.3.2 Estimation of Luenberger Total Factor Productivity Growth -- 6.3.3 Results -- 6.4 Remarks -- 7. Nonparametric Approaches -- 7.1 Introduction -- 7.2 Empirical Nonparametric Construction of Dynamic Efficiency -- 7.2.1 Compute Shadow Value Using the Linear Complementarity Problem -- 7.2.2 Compute Shadow Value from the Dual Problem -- 7.2.3 Compute Shadow Value from the Directional Distance Function -- 7.2.4 Compute Shadow Value from a Parametrically Estimated Value Function -- 7.3 Empirical Construction of the Inner-Bound and Outer- Bound Technologies -- 7.4 Remarks -- 7.5 Appendix: R Code for Estimating Dynamic Technical Inefficiency -- References -- Index Productivity and economic performance have generated many studies and considerable discussion in economic policy circles. Yet, theoretical and empirical studies focusing on production efficiency have typically ignored the time interdependence of production decisions and the adjustment firms make over time. This book provides a systematic treatment of dynamic decision making and performance measurement Industrial productivity-Measurement Effizienz (DE-588)4013585-8 gnd rswk-swf Produktivitätsmessung (DE-588)4175810-9 gnd rswk-swf Herstellkosten (DE-588)4047358-2 gnd rswk-swf Entscheidungsfindung (DE-588)4113446-1 gnd rswk-swf Electronic books Produktivitätsmessung (DE-588)4175810-9 s Entscheidungsfindung (DE-588)4113446-1 s Herstellkosten (DE-588)4047358-2 s Effizienz (DE-588)4013585-8 s DE-604 Stefanou, Spiro E. 1955- Sonstige (DE-588)170293009 oth Oude Lansink, Alfons G. J. M. 1967- Sonstige (DE-588)171363167 oth Erscheint auch als Druck-Ausgabe 978-0-19-091947-4 Silva, Elvira Dynamic Efficiency and Productivity Measurement Oxford : Oxford University Press, Incorporated,c2020 https://doi.org/10.1093/oso/9780190919474.001.0001 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Silva, Elvira Dynamic Efficiency and Productivity Measurement Cover -- Dynamic Efficiency and Productivity Measurement -- Copyright -- Dedication -- Contents -- Preface -- Introduction -- 1. Overview -- 1.1 What Is a Production Technology? -- 1.2 Production in the Context of Time -- 1.2.1 Short Run versus Long Run and Being in Disequilibrium -- 1.2.2 Changing Capacity -- 1.3 Characterizing Adjustment -- 1.3.1 Adjustment Cost Hypothesis -- 1.3.2 Isoquants -- 1.3.3 Nonconvex Production Relationships -- 1.4 Implications of Adjustment for Measuring Performance -- 2. Primal Analytical Foundations of Dynamic Production Analysis -- 2.1 Introduction -- 2.2 Set Representation of the Adjustment Cost Production Technology -- 2.2.1 Adjustment Cost Production Possibilities Set -- 2.2.2 Adjustment Cost Input Requirement Sets -- 2.2.3 Adjustment Cost Producible Output Sets -- 2.3 The Adjustment Cost Transformation Function -- 2.4 Remarks -- 3. Dynamic Economic Decision Making -- 3.1 Introduction -- 3.2 Bellman's Dynamic Programming Approach -- 3.2.1 Cost Minimization: Two-Period Framework -- 3.2.2 Isocost Analysis -- 3.2.3 Cost Curves in the Short Run and Long Run -- 3.2.4 Profit Maximization -- 3.3 Generalization to the Continuous Time Case -- 3.3.1 Cost Minimization -- 3.3.2 Profit Maximization -- 3.3.3 Dynamic Duality Implications -- 3.4 Formulating the Cost Minimization Problem in Data Envelopment Analysis -- 3.5 Remarks -- 3.5.1 Nonparametric Approaches -- 3.5.2 Parametric Approaches -- 4. Dynamic Decision Making, Distance Functions, and Productive Efficiency -- 4.1 Introduction -- 4.2 Adjustment Cost Directional Distance Functions -- 4.2.1 Directional Technology Distance Function -- 4.2.2 Directional Input Distance Function -- 4.2.3 Directional Output Distance Function -- 4.3 Dynamic Duality and Measurement of Productive Efficiency -- 4.3.1 Intertemporal Cost Minimization and Duality 4.3.2 Temporal Cost Inefficiency Measures -- 4.3.3 Temporal Profit Inefficiency Measures -- 4.4 Remarks -- 4.5 Appendix: Proof of Lemmas -- 4.6 Appendix: Proof of Properties DDT.1-DDT.8 -- 4.7 Appendix: Proof of DDI.1-DDI.9 -- 5. Dynamic Structure of Production and Productivity Change -- 5.1 Introduction -- 5.2 Scale, Scope, and Capacity Utilization -- 5.2.1 Scale Elasticity -- 5.2.2 Cost Elasticities and Economics of Size -- 5.2.3 Economics of Scope and Cost Concepts -- 5.2.4 Capacity Utilization -- 5.3 Constructing Measures of Productivity -- 5.3.1 Structural Approach -- 5.3.2 Luenberger Indicator -- 5.4 Remarks -- 6. Econometric Approaches -- 6.1 Introduction -- 6.2 Functional Forms -- 6.3 Structural Parametric Approaches -- 6.3.1 Estimation of Dynamic Inefficiency -- 6.3.2 Estimation of Luenberger Total Factor Productivity Growth -- 6.3.3 Results -- 6.4 Remarks -- 7. Nonparametric Approaches -- 7.1 Introduction -- 7.2 Empirical Nonparametric Construction of Dynamic Efficiency -- 7.2.1 Compute Shadow Value Using the Linear Complementarity Problem -- 7.2.2 Compute Shadow Value from the Dual Problem -- 7.2.3 Compute Shadow Value from the Directional Distance Function -- 7.2.4 Compute Shadow Value from a Parametrically Estimated Value Function -- 7.3 Empirical Construction of the Inner-Bound and Outer- Bound Technologies -- 7.4 Remarks -- 7.5 Appendix: R Code for Estimating Dynamic Technical Inefficiency -- References -- Index Industrial productivity-Measurement Effizienz (DE-588)4013585-8 gnd Produktivitätsmessung (DE-588)4175810-9 gnd Herstellkosten (DE-588)4047358-2 gnd Entscheidungsfindung (DE-588)4113446-1 gnd |
| subject_GND | (DE-588)4013585-8 (DE-588)4175810-9 (DE-588)4047358-2 (DE-588)4113446-1 |
| title | Dynamic Efficiency and Productivity Measurement |
| title_auth | Dynamic Efficiency and Productivity Measurement |
| title_exact_search | Dynamic Efficiency and Productivity Measurement |
| title_exact_search_txtP | Dynamic Efficiency and Productivity Measurement |
| title_full | Dynamic Efficiency and Productivity Measurement |
| title_fullStr | Dynamic Efficiency and Productivity Measurement |
| title_full_unstemmed | Dynamic Efficiency and Productivity Measurement |
| title_short | Dynamic Efficiency and Productivity Measurement |
| title_sort | dynamic efficiency and productivity measurement |
| topic | Industrial productivity-Measurement Effizienz (DE-588)4013585-8 gnd Produktivitätsmessung (DE-588)4175810-9 gnd Herstellkosten (DE-588)4047358-2 gnd Entscheidungsfindung (DE-588)4113446-1 gnd |
| topic_facet | Industrial productivity-Measurement Effizienz Produktivitätsmessung Herstellkosten Entscheidungsfindung |
| url | https://doi.org/10.1093/oso/9780190919474.001.0001 |
| work_keys_str_mv | AT silvaelvira dynamicefficiencyandproductivitymeasurement AT stefanouspiroe dynamicefficiencyandproductivitymeasurement AT oudelansinkalfonsgjm dynamicefficiencyandproductivitymeasurement |