New Directions:Efficiency and Productivity
The format of this monograph is three essays, which we arrived at after spending a year writing over one hundred pages of what we even tually realized was a tedious reworking of old material. So we started over determined to write something new. At first
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Studies in Productivity and Efficiency Series Editors: Rolf Fare Shawna Grosskopf Oregon State University R. Robert Russell University of California, Riverside Books in the series: Fox, Kevin J. \ Efficiency in the Pubhc Sector Ball, V. Eldon and Norton, George W.: Agricultural Productivity: Measurement and Sources of Growth Fare, Rolf and Grosskopf, Shawna: New Directions: Efficiency and Productivity
NEW DIRECTIONS: EFFICIENCY AND PRODUCTIVITY
ROLF FARE AND SHAWNA GROSSKOPF Oregon State University
IN COLLABORATION WITH H. FUKUYAMA, W.F. LEE, W. WEBER AND O. ZAIM
Kluwer Academic Publishers Boston/Dordrecht/London
Library of Congress Cataloging-in-Publication Data
Fare, Rolf, 1942New Directions: efficiency and productivity / Rolf Fare and Shawna Grosskopf in collaboration with H. Fukuyama, W. F. Lee, W. Weber ad O Zaim. p. cm. (Studies in productivity and efficiency) Includes bibliographical references and index. 1. Industrial efficiency. 2. Industrial Productivity. I. Grosskopf, Shawna. II. Title. III. Series. ISBN 1-4020-7661-4 (HC)
ISBN 0-387-24963-X (SC)
Printed on acid-free paper First softcover printing, 2005 © 2003 Springer Science+Business Media, Inc. All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, Inc., 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now know or hereafter developed is forbidden. The use in this pubUcation of trade names, trademarks, service marks and similar terms, even if the are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Printed in the United States of America. 9 8 7 6 5 4 3 2 1 springeronUne. com
SPIN 11392484
To Bjorn Thalberg
Contents
List of Figures Preface Introduction
ix xi xiii
1. ESSAY 1: EFFICIENCY INDICATORS AND INDEXES 1 The Nerlovian Profit Indicator 2 The Revenue Efficiency Indicator 3 Cost Efficiency Indicator 4 Efficiency Indexes 5 From Indicators to Indexes 6 Hyperbolic Efficiency 7 Remarks on the Literature 8 Appendix: Proofs
1 2 13 22 27 35 39 42 42
2. ESSAY 2: ENVIRONMENTAL PERFORMANCE 1 Good and Bad Outputs 2 Productivity with Bads 3 Environmental Quantity Index 4 Shadow Pricing Undesirable Outputs 5 Property Rights and Profitability 5.1 The Production Network with Externality 5.2 Common-pool Resource Technology 5.3 Property Rights, Profit and Externalities 5.4 Profits and common pool resource 5.5 Summary
45 46 52 56 60 65 66 70 71 75 77
NEW DIRECTIONS 6
Environmental Kuznets Curve 6.1 Methodology 6.2 Data and Results 6.3 Concluding Remarks Remarks on the Literature Appendix: Proofs
77 79 82 90 90 91
3. ESSAY 3: AGGREGATION ISSUES 1 The Fox Paradox 2 Koopmans' Theorem 3 Aggregating Indicators Across Firms 4 Johansen Agg
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