This paper applies a new variant of data envelopment analysis model to examine the performance of Life Insurance Corporation (LIC) of India. The findings show a significant heterogeneity visible in the cost efficiency scores within 19 years. The decline in performance after 1994-95 can be taken...

In this study an attempt is made to examine, using data envelopment analysis, the productivity trends in the Indian Pig Iron and Sponge Iron industry for the period after economic liberalization. The methods of cross-efficiency matrix, distribution of virtual inputs and returns to scale are also...

This paper provides radial measurements of efficiency for the production process possessing multi-components under different production technologies. Our approach is based on the construction of various empirical production possibility sets. Then we propose a procedure that is unaffected...

Using Bayesian Monte Carlo methods, we augment a stochastic distance function measure of bank efficiency and productivity growth with indicators of capitalization, return and risk. Our novel Multiple Indicator-Multiple Cause (MIMIC) style model generates more precise estimates of policy relevant...

The field of production frontier estimation is divided between the parametric Stochastic Frontier Analysis (SFA) and the deterministic, nonparametric Data Envelopment Analysis (DEA). This paper explores an amalgam of DEA and SFA that melds a nonparametric frontier with a stochastic composite...

In this paper we show how both the choice of specific constraints on input and output weights (in accordance with health care policy-makers' preferences) and the consideration of exogenous variables outside the control of hospital management (and linked to past policy-makers' decisions) can...

The literature of productive efficiency analysis is divided into two main branches: the parametric Stochastic Frontier Analysis (SFA) and nonparametric Data Envelopment Analysis (DEA). This paper attempts to combine the virtues of both approaches in a unified framework. We follow the SFA...

Molinero and Tsai (1997) proposed a data envelopment analysis (DEA) model to evaluate a production entity that is characterized by shared inputs and shared outputs. They claimed that their proposed model has a convex solution space, and thus a convex program. This conclusion, if it were correct,...

We propose a new scheme for measuring scale elasticity of production based on a new cost efficiency model developed in Tone (2002). Comparing our model with classical model we establish the superiority of our model over the latter based on the premise that the classical estimates of cost...

This paper critically analyses, in the context of classical and neoclassical perspectives, the concepts of ‘returns to scale’ and ‘economies of scale’ by relating the former to the concept of ‘production unit’ and the latter to the concept of ‘firm’, and concludes that returns to...