By Cinzia Daraio
Providing a scientific and finished therapy of contemporary advancements in potency research, this readable ebook makes to be had an intuitive but rigorous presentation of complex nonparametric and strong tools. this versatile toolbox can be utilized in theories according to the neoclassical concept of construction and its possible choices, together with evolutionary theories. The tools are complemented via empirical research of 3 assorted monetary fields: clinical study, mutual cash and the assurance area. The study demonstrates the application of the toolbox for quite a lot of financial concerns, together with the research of economies of scale and scope, dynamics of age and agglomeration results, trade-offs in construction and repair actions, and factors of potency differentials. Of curiosity to utilized economists widely, this publication can also be of curiosity to these taken with Operations examine and/or administration Science.
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Additional resources for Advanced Robust and Nonparametric Methods in Efficiency Analysis: Methodology and Applications
A taxonomy of efficient frontier models 25 As pointed out in Simar and Wilson (2001), no behavioral assumptions are necessary for measuring technical efficiency. From a purely technical viewpoint, either the input or the output distance function can be used to measure technical efficiency - the only difference is in the direction in which distance to the technology is measured. The way of looking at the frontier will typically depend on the context of the application. g. as in most of the public services), input efficiency will be of main interest, since the inputs are the only elements under the control of the managers.
In the previous section we described the economic model underlying the frontier analysis framework based on the Activity Analysis Model. This model is based on some representations of the production set Ψ on which we can impose different axioms. Nevertheless, the production set Ψ, the boundary of the input requirement set ∂C(y) and of the output correspondence set ∂P (x), together with the efficiency scores in the input and output space, θ(x, y) and λ(x, y), are unknown. , n}. 1 we propose an outline of what we believe have been the most influential works in productivity and efficiency analysis, starting from the pioneering work by Farrell (1957).
In these models observed activities, such as the inputs and outputs of some production units, serve as coefficients of activity or intensity variables forming a series of linear inequalities, yielding a piecewise linear frontier technology. The work of Koopmans and Shephard imposes convexity on the reference technology, therefore, the DEA estimator relies on the convexity assumption. The Free Disposal Hull (FDH) estimator, that maintains free disposability while relaxes convexity, was introduced by Deprins, Simar and Tulkens (1984).