Purpose This paper aims to analyze farm-level technical inefficiency of rice farming in Assam, India, using a multiple-output generalized stochastic frontier framework. Design/methodology/approach Primary data for this study were collected in 2009-2010 from 310 farm-households in four...

Our chapter surveys the literature on why market prices may provide distorted signals, i.e., diverge from socially efficient prices. There are a number of reasons for this to occur, such as price controls, externalities, imperfect competition, taxes, trade controls, etc. Broadly, market failure...