Surplus measures and luenberger Hicks–Moorsteen productivity indicator

Arnaud Abad, Rabaozafy Louisa Andriamasy () and Walter Briec
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Rabaozafy Louisa Andriamasy: UPVD - Université de Perpignan Via Domitia
Walter Briec: UPVD - Université de Perpignan Via Domitia, LAMPS - LAboratoire de Modélisation Pluridisciplinaire et Simulations - UPVD - Université de Perpignan Via Domitia

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Abstract: This paper extends to production theory some notions of compensated and equivalent variation analyzed in Luenberger (Econ Theory 7:445-462, 1996) in a consumer context. Along this line the Luenberger-Hicks-Moorsteen productivity indicator introduced in Briec and Kerstens (Econ Theory 23:925-939, 2004) is derived from these concepts for multi-output production technologies. The dual properties of this productivity indicator are analyzed and an aggregate indicator is introduced inspired from the resource function proposed in Luenberger (1996). A connection to a suitable Slutsky matrix is established.

Keywords: Luenberger-Hicks-Moorsteen indicator; Directional distance function; Aggregate Luenberger-Hicks-Moorsteen indicator; Resource function; Duality (search for similar items in EconPapers)
Date: 2018-11
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Published in Journal of Economics, 2018, 125 (3), pp.279-308. ⟨10.1007/s00712-018-0611-7⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03025392

DOI: 10.1007/s00712-018-0611-7

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