Surplus measures and luenberger Hicks–Moorsteen productivity indicator

Arnaud Abad, Rabaozafy Louisa Andriamasy and Walter Briec ()
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Rabaozafy Louisa Andriamasy: University of Perpignan
Walter Briec: University of Perpignan

Journal of Economics, 2018, vol. 125, issue 3, No 4, 279-308

Abstract: Abstract This paper extends to production theory some notions of compensated and equivalent variation analyzed in Luenberger (Econ Theory 7:445–462, 1996) in a consumer context. Along this line the Luenberger–Hicks–Moorsteen productivity indicator introduced in Briec and Kerstens (Econ Theory 23:925–939, 2004) is derived from these concepts for multi-output production technologies. The dual properties of this productivity indicator are analyzed and an aggregate indicator is introduced inspired from the resource function proposed in Luenberger (1996). A connection to a suitable Slutsky matrix is established.

Keywords: Luenberger–Hicks–Moorsteen indicator; Directional distance function; Aggregate Luenberger–Hicks–Moorsteen indicator; Resource function; Duality (search for similar items in EconPapers)
JEL-codes: D24 (search for similar items in EconPapers)
Date: 2018
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Working Paper: Surplus measures and luenberger Hicks–Moorsteen productivity indicator (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jeczfn:v:125:y:2018:i:3:d:10.1007_s00712-018-0611-7

DOI: 10.1007/s00712-018-0611-7

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