The use of non-parametric frontier methods for the evaluation of product market efficiency in heterogeneous markets seems to have gained some popularity recently. However, the statistical properties of these frontier estimators have been largely ignored. The main point is that nonparametric...

In a recent article, Briec, Kerstens and Vanden Eeckaut (2004) develop a series of nonparametric, deterministic non-convex technologies integrating traditional returns to scale assumptions into the non-convex FDH model. They show, among other things, how the traditional technical input...

This paper proposes a nonparametric efficiency measurement approach for the static portfolio selection problem in mean-variance-skewness space. A shortage function is defined that looks for possible increases in return and skewness and decreases in variance. Global optimality is guaranteed for...

This paper develops a general approach for the single period portfolio optimization problem in a multidimensional general and partial moment space. A shortage function is defined that looks for possible increases in odd moments and decreases in even moments. A main result is that this shortage...

This empirical application investigates the eventual presence of credit constraints using a panel of French farmers. This is the first European application using a direct modelling approach based upon axiomatic production theory. The credit constrained profit maximisation model proposed by...

The shortage function, an important tool in production theory, measures potential increases in outputs and decreases in inputs for a given direction g at a given date. To develop a temporal version of technical efficiency measurement, we introduce the concept of a temporal shortage function....

This contribution points out a minor problem in the specifcation of technology when computing the Luenberger productivity indicator that has been hitherto ignored in the literature. The solution of this problem increases the likelihood that the directional distance functions underlying this...

This note illustrates the potential impact of the specification of a convex production technology on establishing minimal costs compared to the use of a non-convex technology when benchmarking electricity distributors. This methodological reflection is mainly motivated by recent engineering...

The purpose of this contribution is to highlight an underexplored property of the directional distance function, a recently introduced generalization of the Shephard distance function. It diagnoses in detail the economic conditions under which infeasibilities may occur for the case of...

Generalizing earlier approximation results, we establish exact relations between the Luenberger productivity indicator and the Malmquist productivity index under rather mild assumptions. Furthermore, we show that similar exact relations can be established between the Luenberger-Hicks-Moorsteen...