Asymétries d'information et richesse immatérielle de l'entreprise: Mesure microéconométrique

Philippe Gagnepain and Marc Ivaldi

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Abstract: Econometricians working on stochastic production and cost frontiers have been interested in estimating the inefficiency of firms. At the same time, economists have considered problems of asymmetric information arising in the contractual relationships between principals and agents. This article is an attempt to make these two approaches to coincide. We propose to construct structural frontiers where the global inefficiency term is partly endogenous and depends on the economic constraints impinging on the activity of a producer. We illustrate our methodology with data on the French urban transport regulation.

Date: 2002
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Published in Revue Française d'Economie, 2002, 3, pp.129-153

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