A Luenberger-Hicks-Moorsteen productivity indicator: its relation to the Hicks-Moorsteen productivity index and the Luenberger productivity indicator

Walter Briec () and Kristiaan Kerstens

Economic Theory, 2004, vol. 23, issue 4, 925-939

Abstract: Introducing a new difference-based Luenberger-Hicks-Moorsteen productivity indicator, this contribution establishes theoretically its relations with some existing ratio- and difference-based productivity indexes and indicators. The first main result is an approximation proposition stating that the logarithm of the Hicks-Moorsteen productivity index is about equal to the Luenberger-Hicks-Moorsteen productivity indicator. Secondly, we also establish the specific conditions under which the Luenberger-Hicks-Moorsteen indicator equals the recently introduced Luenberger indicator and compare these to the conditions governing the relations between ratio-based Hicks-Moorsteen and Malmquist indices. Copyright Springer-Verlag Berlin/Heidelberg 2004

Keywords: Malmquist productivity index; Hicks-Moorsteen productivity index; Luenberger productivity indicator; Luenberger-Hicks-Moorsteen productivity indicator. (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/s00199-003-0403-2

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