In this article we explore some issues surrounding the use of farm‐level efficiency and productivity estimates for benchmarking studies. Using an eight‐year balanced panel of Victorian wool producers we analyse annual variation between estimates of farm‐level technical efficiency derived...

In this article we analyse trends in the economic performance of the dairy processing industry and evaluate the link between these trends and the deregulation of the industry. Using Stochastic Frontier Analysis to derive Malmquist total factor productivity estimates, we show that the industry...