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

Frederic Ang () and Peter Jan Kerstens
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Frederic Ang: Department of Economics, Swedish University of Agricultural Sciences, Postal: Box 7013, Swedish University of Agricultural Sciences, SE-750 07 Uppsala, Sweden
Peter Jan Kerstens: Center for Economic Studies, Postal: KU Leuven, E. Sabbelaan 53, B-8500 Kortrijk,, Belgium,

No 2017:1, Working Paper Series from Swedish University of Agricultural Sciences, Department Economics

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.

Keywords: Bennet-Bowley; diff erence based indicator; total factor productivity; exact and superlative approximation (search for similar items in EconPapers)
JEL-codes: C43 D21 D24 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2017-07-02
New Economics Papers: this item is included in nep-eff
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Citations: View citations in EconPapers (1)

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