The Econometric Approach to Efficiency Analysis
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Authors
Greene, William
Date
2008Type
Book Chapter
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Greene, W. 2008. The Econometric Approach to Efficiency Analysis. In The Measurement of Productive Efficiency and Productivity Change.
Source Title
The Measurement of Productive Efficiency and Productivity Change
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School
School of Economics and Finance
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Abstract
© Oxford University Press, 2013.This chapter provides an overview of techniques for econometric analysis of technical (production) and economic (cost) efficiency. The stochastic frontier model of Aigner, Lovell, and Schmidt (1977) is now the standard econometric platform for this type of analysis. The underlying models and econometric techniques that have been used in studying technical inefficiency in the stochastic frontier framework are surveyed, and some of the recent developments in econometric methodology are presented. Applications that illustrate some of the computations are presented in the final section.
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