Murty, Sushama; Robert Russell, R.; Levkoff, Steven B. - In: Journal of Environmental Economics and Management 64 (2012) 1, pp. 117-135
-power-plant database, we illustrate shortcomings, under by-production, of two popular efficiency indexes: the hyperbolic and directional …-distance-function indexes. We propose and implement an alternative index with superior properties. Under by-production, most efficiency indexes … decompose very naturally into intended-production and environmental efficiency indexes. This decomposition is difficult to find …