Efficiency Models of Industry Growth

Jati Sengupta and Phillip Fanchon

Chapter 2 in Efficiency, Market Dynamics and Industry Growth, 2009, pp 31-57 from Palgrave Macmillan

Abstract: Abstract Economic efficiency is the key to the growth of firms and industry evolution. It provides the major source of profit and increasing market share. Under competitive market structures, prices are more or less given, hence efficiency takes the form of reduction of unit costs. Unit cost reduction occurs in the short run through firms following optimal input and output strategies. In the long run however it depends on optimal policies for capital investment and optimal innovations and R&D strategies.

Keywords: Data Envelopment Analysis; Total Factor Productivity; Data Envelopment Analysis Model; Average Cost; Adjustment Cost (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1057/9780230248663_2

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