An important conclusion from the literature on hydropower is that if there are no other constraints than the available water reservoirs for a year, and operating costs are ignored, the competitive (and socially optimal) outcome is characterized by the (present value) price being constant through...

Research on productive efficiency at the firm level has developed as an important and active strand of research the last decades, both within operations research, management science and economics. However, the interests pursued within the fields have had some differences regarding sound...

There are some specific features of the non-radial DEA (data envelopment analysis) models which cause some problems under the returns to scale measurement. In the scientific literature on DEA, some methods were suggested to deal with the returns to scale measurement in the non-radial DEA models....

Professor Leif Johansen (1930 - 1982) made significant contributions to a large number of fields in economics. A short survey of his contributions is presented. The main focus in the paper is on his growth - production program constituting an important part of his research. The key concepts are...

The distinction between the concepts outputs and outcomes can be made operational based on the consideration of the degree of control a public service producer has over its production activity. Resources are transformed into service outputs under the control of the organisation in question,...

The distinction between the concepts outputs and outcomes can be made operational based on the consideration of the degree of control a public service producer has over its production activity. Resources are transformed into service outputs under the control of the organisation in question,...

Applications of the DEA models show that inadequate results may arise in some cases, two of these inadequacies being: a) too many efficient units may appear in some DEA models; b) a DEA model may show an inefficient unit from the point of view of experts as an efficient one. The purpose of this...

There are plans of a substantial increase in the construction of renewable power in Scandinavia in the coming 10 years. The Nordic countries operate a common wholesale market, Nord Pool. Intermittent power (wind power, solar and small-scale hydro power) is stochastic and therefore needs other...

The purpose of this article is to provide a deeper empirical insight into the structural change of an industry which is more relevant than that obtained by an analysis based on the traditionally estimated average production function. The main contribution is a long run analysis of technical...