A GENERALIZED DISTANCE FUNCTION AND THE ANALYSIS OF PRODUCTION EFFICIENCY

Jean-Paul Chavas () and Thomas L. Cox

No 12601, Staff Papers from University of Wisconsin-Madison, Department of Agricultural and Applied Economics

Abstract: A generalization of Shephard's distance functions is proposed, extending the usefulness of distance functions in economic analysis. Applications to efficiency measurements and productivity analysis are presented. New indexes of productivity, and technical, allocative and scale efficiency are proposed and analyzed. Interpretation of these indexes in terms of ray-average cost, ray-average revenue, and cost-to-revenue ratio is discussed.

Keywords: Production; Economics (search for similar items in EconPapers)
Pages: 43
Date: 1999
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Citations: View citations in EconPapers (41)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wisagr:12601

DOI: 10.22004/ag.econ.12601

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