This volume discusses the latest techniques and their economic applications for modern industries like computer, pharmaceutical, banking and other manufacturing. These industries are most important for a growing economy. Both econometric and mathematical programming techniques are analyzed so as...

From an empirical perspective, this paper critically examines the concepts of returns to scale (RTS) and economies of scale (EOS), and argues that the concept of EOS is more relevant and broader enough to exhibit proper scale economies behavior of firms. Two approaches, i.e., production function...

This paper attempts to examine, using data envelopment analysis, the productivity performance trends of the Indian commercial banks for the period: 1997-98 - 2004-05. Our broad empirical findings are indicative in many ways. First, the increasing average annual trends in technical efficiency for...

Two key elements of Schumpeterian dynamics: new innovations and creative destruction are developed here in a stochastic framework to develop a model of stochastic growth. This model explores the diffucion process and the existence of nonlinearities in technological progress.

This article focuses on productivity transitions from low to high levels of efficiency over time in the framework of the Farrell efficiency model. This transition probability approach is applied in two empirical applications in order to test the persistence of Farrell efficiency over time. The...

Methods of estimating efficiency by cost frontiers are analysed here by generalizing the efficiency distribution approach in Farrell's convex hull method of cost minimization.

Dynamic versions of Farrell efficiency are formulated here and empirically applied to airlines data to estimate productivity growth and technical efficiency changes.

Methods of measuring dynamic efficiency of a set of units and comparing it with static efficiency are presented here through a linear programming model and illustrated by an empirical application.

Skewness persistence and its impact on market volatility are examined here empirically over recent NYSE stock market data. The empirical results do not show any skewness persistence, although the skewness factor affects market volatility to a significant degree. This suggests the need to modify...