Stochastic Frontier Analysis

Business & Finance, Economics, Econometrics, Nonfiction, Science & Nature, Mathematics
Cover of the book Stochastic Frontier Analysis by Subal C. Kumbhakar, C. A. Knox Lovell, Cambridge University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Subal C. Kumbhakar, C. A. Knox Lovell ISBN: 9781107713185
Publisher: Cambridge University Press Publication: March 10, 2003
Imprint: Cambridge University Press Language: English
Author: Subal C. Kumbhakar, C. A. Knox Lovell
ISBN: 9781107713185
Publisher: Cambridge University Press
Publication: March 10, 2003
Imprint: Cambridge University Press
Language: English

Modern textbook presentations of production economics typically treat producers as successful optimizers. Conventional econometric practice has generally followed this paradigm, and least squares based regression techniques have been used to estimate production, cost, profit and other functions. In such a framework deviations from maximum output, from minimum cost and cost minimizing input demands, and from maximum profit and profit maximizing output supplies and input demands, are attributed exclusively to random statistical noise. However casual empiricism and the business press both make persuasive cases for the argument that, although producers may indeed attempt to optimize, they do not always succeed. 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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Modern textbook presentations of production economics typically treat producers as successful optimizers. Conventional econometric practice has generally followed this paradigm, and least squares based regression techniques have been used to estimate production, cost, profit and other functions. In such a framework deviations from maximum output, from minimum cost and cost minimizing input demands, and from maximum profit and profit maximizing output supplies and input demands, are attributed exclusively to random statistical noise. However casual empiricism and the business press both make persuasive cases for the argument that, although producers may indeed attempt to optimize, they do not always succeed. 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.

More books from Cambridge University Press

Cover of the book Crimes against Humanity by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Why Governments and Parties Manipulate Elections by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book American Nationalisms by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Evolution in Investment Treaty Law and Arbitration by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Erosion and Sedimentation by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Global Financial Contagion by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Learning to Teach in the Primary School by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book The Cambridge Companion to Jewish American Literature by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book A Guide to Biblical Hebrew Syntax by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Hypertension in Pregnancy by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book The Cambridge World History of Slavery: Volume 4, AD 1804–AD 2016 by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Homer: Iliad Book 22 by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Kant: The Metaphysics of Morals by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book Healthcare Decision-Making and the Law by Subal C. Kumbhakar, C. A. Knox Lovell
Cover of the book The Cambridge History of Postmodern Literature by Subal C. Kumbhakar, C. A. Knox Lovell
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy