Exact and superlative measurement of the Luenberger-Hicks-Moorsteen productivity indicator

Frederic Ang and Pieter Kerstens

No 568505, Working Papers of Department of Economics, Leuven from KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven

Abstract: This paper shows that the Bennet-Bowley profit indicator is an exact and superlative approximation of the additively complete Luenberger-Hicks-Moorsteen productivity indicator when the input and output directional distance functions can be represented up to the second order by a quadratic functional form. It also establishes the conditions under which the exact and superlative measures of the Luenberger productivity indicator and Luenberger-Hicks-Moorsteen productivity indicator coincide.

Date: 2017-01
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Published in Discussion paper series, DPS17.02 pages:1-12

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Persistent link: https://EconPapers.repec.org/RePEc:ete:ceswps:568505

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