Measurement of Dynamic Efficiency: A Directional Distance Function Parametric Approach

Teresa Serra, Alfons Oude Lansink () and Spiro Stefanou

American Journal of Agricultural Economics, 2010, vol. 93, issue 3, 752-763

Abstract: This research proposes a parametric estimation of the structural dynamic efficiency measures proposed in 2009 by Silva and Oude Lansink. Overall, technical and allocative efficiency measurements are derived based on a directional distance function and the duality between this function and the optimal value function. The applicability of the parametric proposal is illustrated by assessing dynamic efficiency ratings for a sample of Dutch dairy farms observed from 1995 to 2005. Dynamic efficiency ratings indicate the possibility to achieve long-run cost savings on the order of 12% that are mainly to be accomplished through a reduction in input use. Copyright 2010, Oxford University Press.

Date: 2010
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