We discuss the nonparametric approach to profit efficiency analysis at the firm and industry levels in the absence of complete price information, and propose two new insights. First, choosing one commodity (whose price is known) as a numeraire good enables us to measure profit inefficiency in...

Due to the advancing economisation and the associated discussion on the distribution of public budgets and tax revenues, the efficiency of higher education institutions is increasingly coming into focus. Since the 2000s, more and more studies on the efficiency of German universities have been...

This paper studies efficient risk-sharing rules for the concave dominance order. For a univariate risk, it follows from a comonotone dominance principle, due to Landsberger and Meilijson (1994) [27], that efficiency is characterized by a comonotonicity condition. The goal of the paper is to...

This paper studies efficient risk-sharing rules for the concave dominance order. For a univariate risk, it follows from a comonotone dominance principle, due to Landsberger and Meilijson (1994) [27], that efficiency is characterized by a comonotonicity condition. The goal of the paper is to...

This paper evaluates product efficiency in the Spanish automobile market. We use non parametric frontier techniques in order to estimate product efficiency scores for each model. These scores reflect the minimum price for which each car could be sold, given the bundle of tangible features it...

The European Emissions Trading Scheme for CO2 established in 2005 is the world's largest emissions trading scheme. Since it covers only some sectors of the European economies it can nevertheless not ensure that the Kyoto targets are reached at minimal cost. This paper first analyzes the...

German municipalities are expected to suffer from (often significant) population losses in the upcoming decades. We assess these local governments? vulnerability to the fiscal consequences of this demographic decline through two means (using a sample of 1021 municipalities in the state of...

The literature of welfare-maximising greenhouse gas emission reduction strategies pays remarkably little attention to equity. This paper introduces three ways to consider efficiency and equity simultaneously. The first method, inspired by Kant and Rawls, maximises net present welfare, without...

This report summarises the main ideas, proposals, scientific achievements, consensus and conflicting issues that emerged at the Second EFIEA Policy Workshop, held at Fondazione Eni Enrico Mattei, Palazzo delle Stelline, Corso Magenta 63, Milan, Italy, March 4th-6th, 1999. EFIEA, the European...

The general financial stress confronting Chinese local governments requires public spending to become more efficient. While previous work has attempted to study what determines the efficiency, the focus was put on various factors that were not under direct control by policymakers. This paper...