X

David Pearce

A chapter in The Dictionary of Modern Economics, 1983, pp 479-479 from Palgrave Macmillan

Abstract: Abstract X-efficiency. A situation in which a firm’s total costs are not minimized because the actual output from given inputs is less than the maximum feasible level. This outcome is also termed a situation of ‘technical inefficiency’. X-efficiency is a direct function of monopoly or market power in which competitive pressures are weakened. The term was originally applied to the manager-worker relationship but can be extended to deal with the manager-owner relationship. (See Separation of Ownership and Control.)

Keywords: Market Power; Actual Output; Direct Function; Economic Consultant; Competitive Pressure (search for similar items in EconPapers)
Date: 1983
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Chapter: A (1983)
Chapter: J (1983)
Chapter: K (1983)
Chapter: L (1983)
Chapter: M (1983)
Chapter: N (1983)
Chapter: O (1983)
Chapter: P (1983)
Chapter: Q (1983)
Chapter: R (1983)
Chapter: S (1983)
Chapter: B (1983)
Chapter: T (1983)
Chapter: U (1983)
Chapter: V (1983)
Chapter: W (1983)
Chapter: Y (1983)
Chapter: Z (1983)
Chapter: C (1983)
Chapter: D (1983)
Chapter: E (1983)
Chapter: F (1983)
Chapter: G (1983)
Chapter: H (1983)
Chapter: I (1983)
Chapter: A (1981)
Chapter: J (1981)
Chapter: K (1981)
Chapter: L (1981)
Chapter: M (1981)
Chapter: N (1981)
Chapter: O (1981)
Chapter: P (1981)
Chapter: Q (1981)
Chapter: R (1981)
Chapter: S (1981)
Chapter: B (1981)
Chapter: T (1981)
Chapter: U (1981)
Chapter: V (1981)
Chapter: W (1981)
Chapter: X (1981)
Chapter: Y (1981)
Chapter: Z (1981)
Chapter: C (1981)
Chapter: D (1981)
Chapter: E (1981)
Chapter: F (1981)
Chapter: G (1981)
Chapter: H (1981)
Chapter: I (1981)
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DOI: 10.1007/978-1-349-17125-5_24

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