It is well known that binary indexes are not generally suitable for making multiple comparisons of quantities and/or prices because they fail a transitivity test. A common solution to the problem involves a geometric averaging procedure attributed to Elteto and Koves (1964) and Szulc (1964)....

The estimated parameters of output distance functions frequently violate the monotonicity, quasiconvexity and convexity constraints implied by economic theory, leading to estimated elasticities and shadow prices that are incorrectly signed, and ultimately to perverse conclusions concerning the...

Chambers and Quiggin (2000) advocate the use of state-contingent production technologies to represent risky production and establish important theoretical results concerning producer behaviour under uncertainty. Unfortunately, perceived problems in the estimation of state-contingent models have...

We estimate an input distance function for U.S. electric utilities under the assumption that non-negative variables associated with technical inefficiency are timeinvariant. We use Bayesian methodology to impose curvature restrictions implied by microeconomic theory and obtain exact...

The paper uses the concept of metafrontier functions to study regional differences in production technologies. The paper has three components. The first deals with the analytical framework necessary for the definition of metafrontier functions. The second component studies the properties of the...