The principal aim of this paper is to measure the amount by which the profit of a multi-input, multi-output firm deviates from maximum short-run profit, and then to decompose this profit gap into components that are of practical use to managers. In particular, our interest is in the measurement...

In this paper we use data on five social inclusion indicators (poverty, inequality, unemployment, education and health) to assess the performance of 15 European welfare states (EU15) over a ten-year period from 1995 to 2004. Aggregate measures of performance are obtained using index number...

Recent developments in the econometric estimation of multi-output, multi-input distance functions have provided a promising new solution to the single-output restriction implicit in the standard production function. However, a suspicion that regressor endogeneity may introduce possible...