Kuosmanen, Timo; Cherchye, Laurens; Sipiläinen, Timo - EconWPA - 2003
The Law of One Price (LoOP) states that all firms face the same prices for their inputs and outputs in the competitive … market equilibrium. This law has powerful implications for productive efficiency analysis, which have remained unexploited …). Utilizing the relation between the industry level and the firm level cost efficiency measures, we propose to apply a set of …