The Hicks-Moorsteen Productivity Index Satisfies the Determinateness Axiom

Walter Briec and Kristiaan Kerstens
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Walter Briec: University of Perpignan

No 2008-ECO-10, Working Papers from IESEG School of Management

Abstract: There are two total factor productivity indices available in the literature based on a primal notion of the technology. In a ratio tradition, these are the Malmquist and the HicksMoorsteen productivity indices. In a difference perspective, the Luenberger and Luenberger-Hicks-Moorsteen productivity indicators are based upon a sightly different concept. The purpose of this note is to establish that -in contrast to the Malmquist index- the Hicks-Moorsteen type of productivity index (as well as its difference-based counterpart) is well-defined and satisfies the determinateness property, since the underlying distance functions are always feasible.

Keywords: Malmquist productivity index; Hicks-Moorsteen productivity index; determinateness (search for similar items in EconPapers)
JEL-codes: C43 D21 D24 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2008-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: THE HICKS–MOORSTEEN PRODUCTIVITY INDEX SATISFIES THE DETERMINATENESS AXIOM (2011)
Working Paper: The Hicks-Moorsteen productivity index satisfies the determinateness axiom (2011)
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