Measuring technical and allocative inefficiency in the translog cost system: a Bayesian approach.
In this paper, we propose simulation-based Bayesian inference procedures in a cost system that includes the cost function and the cost share equations augmented to accommodate technical and allocative inefficiency. Markov chain Monte Carlo techniques are proposed and implemented for Bayesian inferen...
| Publicado en: | Journal of Econometrics Vol. 126; no. 2; pp. 355 - 385 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Elsevier Science
June 2005
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=511239917&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 511239917 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 03044076 ECM jtl: Journal of Econometrics issn: 03044076 maglogo: N pubinfo: dt: June 2005 vid: 126 iid: 2 pid: 1004 pub: Elsevier Science artinfo: ui: 511239917 10.1016/j.jeconom.2004.05.006 ppf: 355 ppct: 30 formats: tig: atl: Measuring technical and allocative inefficiency in the translog cost system: a Bayesian approach. aug: au: Kumbhakar, Subal C. Tsionas, Efthymios G. su: Mathematical models Industrial efficiency Bayesian analysis Mathematical models of economics Cost Resource allocation -- Mathematical models sug: subj: Mathematical models Industrial efficiency Bayesian analysis Mathematical models of economics Cost Resource allocation -- Mathematical models ab: In this paper, we propose simulation-based Bayesian inference procedures in a cost system that includes the cost function and the cost share equations augmented to accommodate technical and allocative inefficiency. Markov chain Monte Carlo techniques are proposed and implemented for Bayesian inferences on costs of technical and allocative inefficiency, input price distortions and over- (under-) use of inputs. We show how to estimate a well-specified translog system (in which the error terms in the cost and cost share equations are internally consistent) in a random effects framework. The new methods are illustrated using panel data on U.S. commercial banks. Copyright (c) 2004 Elsevier B.V. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|