Maximum likelihood estimation of the revenue function system with output-specific technical efficiency

被引：4

作者：

Kumbhakar, Subal C. ^{[1
,2
]}

Lai, Hung-pin ^{[3
]}

机构：

[1] SUNY Binghamton, Dept Econ, Binghamton, NY 13902 USA

[2] Univ Stavanger, Sch Business, N-4036 Stavanger, Norway

[3] Natl Chung Cheng Univ, Dept Econ, Chiayi 621, Taiwan

来源：

ECONOMICS LETTERS | 2016年 / 138卷

关键词：

Transformation function; Stochastic frontier; Technical inefficiency; Closed skew-normal distribution; DIRECTIONAL DISTANCES; INFERENCE;

D O I：

10.1016/j.econlet.2015.11.021

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we propose a non-radial and output-specific measure of technical efficiency which is new in a stochastic frontier model. We consider a multi-output multi-input transformation function formulation that incorporates output-specific technical efficiency (OSTE) in a revenue maximizing framework. Starting from the dual revenue function with OSTE, we develop the maximum likelihood method to estimate the parameters of the translog revenue-share system as well as predict OSTE components using some novel results from the closed skew-normal distribution. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：42 / 45

页数：4

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