Stochastic Frontier Analysis,9780521666633

Stochastic Frontier Analysis

by
ISBN13: 9780521666633
ISBN10: 0521666635
Format: Paperback
Pub. Date: 2003-03-10
Publisher(s): Cambridge University Press
List Price: $63.12

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Summary

This book develops econometric techniques for the estimation of production, cost and profit frontiers, and for the estimation of the technical and economic efficiency with which producers approach these frontiers. Since these frontiers envelop rather than intersect the data, and since the authors continue to maintain the traditional econometric belief in the presence of external forces contributing to random statistical noise, the work is titled Stochastic Frontier Analysis. Hb ISBN (2000): 0-521-48184-8

Author Biography

Subal C. Kumbhakar is Associate Professor of Economics at the University of Texas, Austin C. A. Knox Lovell holds the C. Heman and Mary Virginia Terry Chair in the Department of Economics in the Terry College of Business, University of Georgia, and is Professor in the School of Economics at the University of New South Wales

Table of Contents

Preface ix
1 Introduction
1(14)
1.1 The Objectives of the Book
1(3)
1.2 A Brief History of Thought
4(7)
1.2.1 Intellectual Antecedents of Stochastic Frontier Analysis
5(3)
1.2.2 The Origins of Stochastic Frontier Analysis
8(1)
1.2.3 Developments in Stochastic Frontier Analysis since 1977
9(2)
1.3 The Organization of the Book
11(4)
2 Analytical Foundations
15(48)
2.1 Introduction
15(3)
2.2 Production Technology
18(24)
2.2.1 Representing Technology with Sets
18(7)
2.2.2 Production Frontiers
25(3)
2.2.3 Distance Functions
28(4)
2.2.4 Cost, Revenue, and Profit Frontiers
32(8)
2.2.5 Variable Cost Frontiers and Variable Profit Frontiers
40(2)
2.3 Technical Efficiency
42(8)
2.3.1 Definitions and Measures of Technical Efficiency
42(4)
2.3.2 Single-Output Production Frontiers and the Measurement of Technical Efficiency
46(2)
2.3.3 Multiple-Output Distance Functions and the Measurement of Technical Efficiency
48(2)
2.4 Economic Efficiency
50(11)
2.4.1 Cost Frontiers and Cost Efficiency
51(3)
2.4.2 Revenue Frontiers and Revenue Efficiency
54(3)
2.4.3 Profit Frontiers and Profit Efficiency
57(3)
2.4.4 Variable Cost Efficiency and Variable Profit Efficiency
60(1)
2.5 A Guide to the Literature
61(2)
3 The Estimation of Technical Efficiency
63(68)
3.1 Introduction
63(1)
3.2 Cross-Sectional Production Frontier Models
64(31)
3.2.1 Deterministic Production Frontiers
66(6)
3.2.2 Stochastic Production Frontiers
72(21)
3.2.3 Stochastic Distance Functions
93(2)
3.3 Panel Data Production Frontier Models
95(20)
3.3.1 Time-Invariant Technical Efficiency
97(11)
3.3.2 Time-Varying Technical Efficiency
108(7)
3.4 Stochastic Production Frontier Models with Heteroskedasticity
115(15)
3.4.1 Heteroskedastic Cross-Sectional Models
116(6)
3.4.2 Heteroskedastic Panel Data Models with Time-Invariant Technical Efficiency
122(4)
3.4.3 Heteroskedastic Panel Data Models with Time-Varying Technical Efficiency
126(4)
3.5 A Guide to the Literature
130(1)
4 The Estimation and Decomposition of Cost Efficiency
131(53)
4.1 Introduction
131(5)
4.2 Cross-Sectional Cost Frontier Models
136(30)
4.2.1 Single-Equation Cost Frontier Models
136(10)
4.2.1.1 The Single-Output Cobb Douglas Cost Frontier
138(5)
4.2.1.2 The Multiple-Output Translog Cost Frontier
143(1)
4.2.1.3 The Single-Output Translog Variable Cost Frontier
144(2)
4.2.2 Simultaneous-Equation Cost Frontier Models
146(12)
4.2.2.1 Single-Output Cobb-Douglas Cost Systems
147(7)
4.2.2.2 The Multiple-Output Translog Cost System
154(4)
4.2.3 Decomposing Cost Inefficiency
158(8)
4.3 Panel Data Cost Frontier Models
166(9)
4.3.1 Single-Equation Cost Frontier Models
167(3)
4.3.2 Simultaneous-Equation Cost Frontier Models
170(5)
4.4 Two Additional Approaches to the Estimation of Cost Efficiency
175(7)
4.4.1 Thick Frontier Analysis
176(3)
4.4.2 A Distribution-Free Approach
179(3)
4.5 A Guide to the Literature
182(2)
5 The Estimation and Decomposition of Profit Efficiency
184(32)
5.1 Introduction
184(2)
5.2 Single-Output Models
186(19)
5.2.1 The Primal Production Frontier Approach
186(6)
5.2.2 The Dual Variable Profit Frontier Approach
192(13)
5.3 Multiple-Output Models
205(7)
5.3.1 The Primal Distance Function
205(4)
5.3.2 The Dual Variable Profit Frontier Approach
209(3)
5.4 Alternative Profit Frontiers
212(2)
5.5 A Guide to the Literature
214(2)
6 The Shadow Price Approach to the Estimation and Decomposition of Economic Efficiency
216(45)
6.1 Introduction
216(2)
6.2 Cross-Sectional Models
218(36)
6.2.1 Estimating and Decomposing Cost Inefficiency
221(18)
6.2.2 Estimating and Decomposing Profit Inefficiency
239(15)
6.3 Panel Data Models
254(5)
6.3.1 Estimating and Decomposing Cost Inefficiency
255(3)
6.3.2 Estimating and Decomposing Profit Inefficiency
258(1)
6.4 A Guide to the Literature
259(2)
7 Incorporating Exogenous Influences on Efficiency
261(18)
7.1 Introduction
261(1)
7.2 Early Approaches to the Incorporation of Exogenous Influences
262(4)
7.3 Recent Approaches to the Incorporation of Exogenous Influences
266(11)
7.4 A Guide to the Literature
277(2)
8 The Estimation of Efficiency Change and Productivity Change
279(32)
8.1 Introduction
279(2)
8.2 The Primal (Production Frontier) Approach
281(6)
8.2.1 The Analytical Framework
282(3)
8.2.2 Estimation and Decomposition
285(2)
8.3 A Dual (Cost Frontier) Approach
287(12)
8.3.1 The Analytical Framework
288(6)
8.3.2 Estimation and Decomposition
294(2)
8.3.3 An Extension to Multiple Outputs
296(3)
8.4 A Dual (Profit Frontier) Approach
299(8)
8.4.1 The Analytical Framework
299(3)
8.4.2 Estimation and Decomposition
302(4)
8.4.3 An Extension to Multiple Outputs
306(1)
8.5 A Guide to the Literature
307(4)
References 311(18)
Author Index 329(3)
Subject Index 332

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