This article introduces a new measure of stock market efficiency. The measure specifies how much a stock market index deviates from Brownian motion and is computed from frequency representations of isoquantile shapes estimated from lagged index returns. We describe the theory behind the...

This article introduces a new measure of stock market efficiency. The measure specifies how much a stock market index deviates from Brownian motion and is computed from frequency representations of isoquantile shapes estimated from lagged index returns. We describe the theory behind the...

A multi-activity DEA model with variable returns to scale is proposed to provide information on the efficiency performance of organizations with inputs shared among several closely-related activities. The model is applied to study the case of 279 farmers’ cooperatives in Taiwan. The results...

This paper addresses the question how team production promotes efficiency of a firm when some inputs can be rewarded on the basis of outputs but some cannot because they are shared among outputs and non-separable. A multi-activity DEA model with variable returns to scale is proposed to provide...

The contributions of the paper are threefold: i) compare with mathematical rigour the Charnes, Cooper, and Rhodes DEA model and the Farrell model exhibiting constant returns to scale, ii) reinterpret the contribution of Farrell and Fieldhouse that extended the analysis to variables returns to...

This paper addresses the question how team production promotes efficiency of a firm when some inputs can be rewarded on the basis of outputs but some cannot because they are shared among outputs and non-separable. A multi-activity DEA model with variable returns to scale is proposed to provide...

The contributions of the paper are threefold: i) compare with mathematical rigour the Charnes, Cooper, and Rhodes DEA model and the Farrell model exhibiting constant returns to scale, ii) reinterpret the contribution of Farrell and Fieldhouse that extended the analysis to variables returns to...