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
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"Every so often a book is written that pulls together a large subject matter in an accessible way, covering both theoretical and applied developments. This is such a book." Journal of Economic Literature
Book Description
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.
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3 of 3 people found the following review helpful:
4.0 out of 5 stars
Excellent overview, not self-contained,
By
This review is from: Stochastic Frontier Analysis (Paperback)
There are a number of good books on productivity analysis, an extremely practical topic in academia and industry. This book focuses on stochastic frontiers, a method that requires a number of assumptions. For instance, if you are an engineer, you can profit from modeling using different distribution assumptions about the nature of your productivity differentials. If you are an economist, you are less enthusiastic about the rigidity of a frontier analysis.One excellent feature of this book is that the theory is well labelled, so that in two minutes, you can find the topic you want. The problem is that the depth of the theory is not sufficiently covered in the book --you need access to journal articles. The book is not a user guide or textbook: it is a theory book with good breadth. Good for the shelf, if accompanied by statistics and econometrics textbooks.
3 of 3 people found the following review helpful:
5.0 out of 5 stars
Outstanding!,
By Wanderer (Who cares where I live?) - See all my reviews
This review is from: Stochastic Frontier Analysis (Paperback)
This book pulls together nearly every aspect of stochastic frontier models that you could ever need or want to learn about and puts it all together for the reader. The layout is remarkably well thought out and the methodology and estimators are clearly and rigorously teased out from a variety of sources, handily compiled into this one remarkable book.You get it all in here, theory, methods, application, pitfalls, limitations, specification testing, both time series and cross sectional, you name it and this book has it. You will be able to find your way whether you've never used stochastic frontiers before or have done even advanced models of these production functions. There is something here for anyone and everyone interested in stochastic frontiers and you will NOT be disappointed by this book. It is simply outstanding and is a STEAL at the price it is offered at. Get it now!
5.0 out of 5 stars
Excellent!,
This review is from: Stochastic Frontier Analysis (Paperback)
I have been working on stochastic frontier analysis (SFA) for the last 6 years and this book is one of the best books that I have seen in the area. Both writers are top notch in this area. Indeed, Prof. Lovell is one of the founders of SFA. The book clearly explains the subjects and is a very good literature review. I feel that the writers utilized their own papers a lot which is fine as they already have done a lot in the area. My only complain about the paper is that it has a few critical typos in the formulas. These are small issues that can easily be fixed.To sum up: I learned a lot from this book and it is a great book to have in the library for those who work on SFA. Indeed, it is my favorite book in the field.
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Inside This Book
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First Sentence:
A recent article in the Economist notes that most large European banks spend about two-thirds of their revenues on rent and employee expense. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
input cost share equations, input allocative inefficiency, technical efficiency differential, translog cost system, cost frontier models, productivity change decomposition, shadow input prices, inefficiency error component, deterministic production frontier model, technical efficiency model, variable profit inefficiency, classical error terms, maximum variable profit, output allocative inefficiency, translog cost frontier, allocative inefficiency parameters, stochastic production frontier model, technology parameter vector, variable profit efficiency, input allocative efficiency, input allocative inefficiencies, cost share data, producer subscripts, input demand equations, panel data context Key Phrases - Capitalized Phrases (CAPs): (learn more)
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A recent article in the Economist notes that most large European banks spend about two-thirds of their revenues on rent and employee expense. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
input cost share equations, input allocative inefficiency, technical efficiency differential, translog cost system, cost frontier models, productivity change decomposition, shadow input prices, inefficiency error component, deterministic production frontier model, technical efficiency model, variable profit inefficiency, classical error terms, maximum variable profit, output allocative inefficiency, translog cost frontier, allocative inefficiency parameters, stochastic production frontier model, technology parameter vector, variable profit efficiency, input allocative efficiency, input allocative inefficiencies, cost share data, producer subscripts, input demand equations, panel data context Key Phrases - Capitalized Phrases (CAPs): (learn more)
Monte Carlo, Vanden Eeckaut New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 27
books:
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29
books
cite this book:
See all 29 books citing this book
- Production Frontiers by Rolf Fare on 5 pages
- The Measurement of Productive Efficiency: Techniques and Applications by Harold O. Fried in Back Matter (1), Back Matter (2), and Back Matter (3)
- Production Economics: A Dual Approach to Theory and Applications (Volume 1) (v. 1) by Melvyn A. Fuss in Back Matter (1), and Back Matter (2)
- Industrial Efficiency in Six Nations by Richard E. Caves in Back Matter
- Output Measurement in the Service Sectors (National Bureau of Economic Research Studies in Income and Wealth) by Zvi Griliches in Back Matter
See all 27 books this book cites
- Essays on Microeconomics and Industrial Organisation (Contributions to Economics) by Pablo Coto-Millán on page 74, page 87, and page 102
- Skew-Elliptical Distributions and Their Applications: A Journey Beyond Normality by Marc G. Genton on page 223, and Back Matter
- Efficiency in Reaching the Millennium Development Goals (World Bank Working Papers) by Quentin Wodon on page 16, and page 26
- China's Agricultural Development: Challenges And Prospects (The Chinese Economy Series) (The Chinese Economy Series) by Xiao-yuan Dong on page 171, and page 189
- Rentabilität im Bankensektor: Identifizierung, Quantifizierung und Operationalisierung werttreibender Faktoren (German Edition) by Armin Varmaz in Back Matter
See all 29 books citing this book
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