Kuosmanen, Timo; Cherchye, Laurens; Sipiläinen, Timo - EconWPA - 2003
market equilibrium. This law has powerful implications for productive efficiency analysis, which have remained unexploited …). Utilizing the relation between the industry level and the firm level cost efficiency measures, we propose to apply a set of … input prices that is common for all firms and that maximizes cost efficiency of the industry. Our framework allows for firm …