Frontier-based models are an alternative to traditional eco-efficiency ratio indicators. This paper considers two different types, environmentally adjusted production efficiency models and frontier eco-efficiency models, and tries to find justification for incorporating the materials balance...

Purpose – The purpose of this paper is to present empirical evidence of risk balancing behavior by European farmers. More specifically, the authors investigate strategic adjustments in the level of financial risk (FR) in response to changes in the level of business risk (BR)....

The materials balance condition is a fundamental adding up condition, which essentially says that �what goes in must come out�. In this paper we argue that a number of the recently developed methods of incorporating pollution measures into standard productive efficiency models are...