New Efficiency Theory
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Author | : Jati Sengupta |
Publisher | : Springer Science & Business Media |
Total Pages | : 184 |
Release | : 2012-11-10 |
Genre | : Business & Economics |
ISBN | : 3540247912 |
New efficiency theory refers to the various parametric and semi-parametric methods of estimating production and cost frontiers, which include data envelopment analysis (DEA) with its diverse applications in management science and operations research. This monograph develops and generalizes the new efficiency theory by highlighting the interface between economic theory and operations research. Some of the outstanding features of this monograph are: (1) integrating the theory of firm efficiency and industry equilibrium, (2) emphasizing growth efficiency in a dynamic setting, (3) incorporating uncertainty of market demand and prices, and (4) the implications of group efficiency by sharing investments. Applications discuss in some detail the growth and decline of the US computer industry, and the relative performance of mutual fund portfolios.
Author | : Robin C. Sickles |
Publisher | : Cambridge University Press |
Total Pages | : 631 |
Release | : 2019-03-28 |
Genre | : Business & Economics |
ISBN | : 110703616X |
Provides a comprehensive approach to productivity and efficiency analysis using economic and econometric theory.
Author | : Jesús Huerta de Soto |
Publisher | : Taylor & Francis |
Total Pages | : 372 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : 041542769X |
This book gathers a collection of multidisciplinary essays by Jess Huerta de Soto, examining the dynamic processes of social cooperation which characterize the market, with particular emphasis on the role of both entrepreneurship and institutions.
Author | : Jati Sengupta |
Publisher | : |
Total Pages | : 188 |
Release | : 2014-01-15 |
Genre | : |
ISBN | : 9783642534720 |
Author | : Roger S. Frantz |
Publisher | : Springer Science & Business Media |
Total Pages | : 237 |
Release | : 2013-12-01 |
Genre | : Business & Economics |
ISBN | : 1461337992 |
My interest in X-Efficiency (XE) dates back to 1978. At the time, I was writing the dissertation for my Ph. D. at Washington State University. My dissertation was concerned with the role of attitudes in the school-to-work transition among young men. I was advised by Professor Millard Hastay (a member of my committee) to look at Leibenstein's "new" book, Beyond Economic Man. One of the things that caught my attention was his be havioral description of (selective) rationality. It seemed that Leibenstein's behavioral description of a (selectively) rational individual was very similar to what psychologists such as Abraham Maslow were reporting as being the product of a particular motivational system. In other words, I was im pressed with the idea that what Leibenstein was referring to as X-ineffi ciency was being discussed by psychologists as "the way it (often) is. " So from the beginning I always considered the concept of X-(in)efficiency to be a valuable one for understanding human behavior. I have since come to believe that this is particularly true when considering behavior in non market environments, i. e. , within the firm. Work on this book, however, can most realistically said to have started with work which I began in 1982 while I was a Visiting Scholar at Harvard University. Professor Leibenstein suggested that I consider how some em pirical evidence which was being cited as evidence for the role of property rights might also be consistent with XE theory.
Author | : Jatikumar Sengupta |
Publisher | : |
Total Pages | : 27 |
Release | : 1997 |
Genre | : Data envelopment analysis |
ISBN | : |
Author | : Richard O. Zerbe |
Publisher | : Edward Elgar Publishing |
Total Pages | : 334 |
Release | : 2002-01-01 |
Genre | : Law |
ISBN | : 1843761483 |
Economic Efficiency in Law and Economics is an interesting and worthwhile book. Megan Richardson, Economic Record Zerbe s new book is high-powered and potentially important. Bill Goodman, Monthly Labor Review In this path-breaking book, Richard Zerbe introduces a new way to think about the concept of economic efficiency that is both consistent with its historical derivation and more useful than concepts currently used. He establishes an expanded version of Kaldor Hicks efficiency as an axiomatic system that performs the following tasks: the new approach obviates certain technical and ethical criticisms that have been made of economic efficiency; it answers critics of efficiency; it allows an expanded range for efficiency analysis; it establishes the conditions under which economists can reasonably say that some state of the world is inefficient. He then applies the new analysis to a number of hard and fascinating cases, including the economics of duelling, cannibalism and rape. He develops a new theory of common law efficiency and indicates the circumstances under which the common law will be inefficient. The book will be of great interest to scholars, students, and practitioners interested in the concept of economic efficiency and how it should be applied to law and economics.
Author | : Ye, Fred Y. |
Publisher | : IGI Global |
Total Pages | : 291 |
Release | : 2022-06-30 |
Genre | : Business & Economics |
ISBN | : 1668449374 |
It has been suggested that national economic policies should focus on taxation to achieve social equity and interest rates for economic efficiency; wealth distribution can balance efficiency and equity through tax rates, interest rates, and exchange rates. Additionally, while the economic system seeks efficiency and the social system pursues equity, common interest modifications with elastic exchange and tax rates should be applied for balancing efficiency and equity. Wealth Expanding Theory Under the Principle of Efficiency-Equity Equilibrium is a comprehensive reference source that considers economic philosophy for extending economic cognition, balancing economic efficiency and social equity, and future interstellar economics. Covering key topics such as poverty, fiscal policy, and macroeconomics, this reference work is ideal for policymakers, government officials, business owners, economists, managers, researchers, scholars, academicians, practitioners, instructors, and students.
Author | : Timothy J. Coelli |
Publisher | : Springer Science & Business Media |
Total Pages | : 376 |
Release | : 2005-07-22 |
Genre | : Business & Economics |
ISBN | : 9780387242651 |
Softcover version of the second edition Hardcover. Incorporates a new author, Dr. Chris O'Donnell, who brings considerable expertise to the project in the area of performance measurement. Numerous topics are being added and more applications using real data, as well as exercises at the end of the chapters. Data sets, computer codes and software will be available for download from the web to accompany the volume.
Author | : Andrew Ang |
Publisher | : Now Publishers Inc |
Total Pages | : 99 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : 1601984685 |
The Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The implication of the EMH for investors is that, to the extent that speculative trading is costly, speculation must be a loser's game. Hence, under the EMH, a passive strategy is bound eventually to beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets relative to a risk-adjusted benchmark. The EMH has been refined over the past several decades to reflect the realism of the marketplace, including costly information, transactions costs, financing, agency costs, and other real-world frictions. The most recent expressions of the EMH thus allow a role for arbitrageurs in the market who may profit from their comparative advantages. These advantages may include specialized knowledge, lower trading costs, low management fees or agency costs, and a financing structure that allows the arbitrageur to undertake trades with long verification periods. The actions of these arbitrageurs cause liquid securities markets to be generally fairly efficient with respect to information, despite some notable anomalies.