This paper develops two cost decompositions based on the multiplicative and additive Russell efficiency measurement framework. While the multiplicative cost decomposition is a straightforward extension of the standard cost decomposition, the decomposition we develop in this paper incorporates...

Argues that it is unrealistic to expect the net benefit of economic globalization to be represented by a single monetary figure because its consequences are diverse and several of its consequences are uncertain. The benefits of economic globalization are accessed in terms of its possible impact...

Economic growth in more developed countries has resulted in farms increasing their scale of production and becoming more specialized in their production. The sizes of farms have tended to increase, agricultural production has become more capital-intensive, and the percentage of the workforce...

In some countries, local agricultural products (particularly livestock products) are shielded from international competition by ‘natural’ factors influencing the purchase of products. These factors include strong local tastes (or preferences) that favour the local product and the absence (or...

This paper incorporates hierarchical structure into the neoclassical theory of the firm. Firms are hierarchical in two respects: the organization of workers in production and the wage structure. The firm’s hierarchy is represented as a sector of a circle, where the radius represents the...