This article provides a generalization of the materials balance-based production model introduced by Coelli et al. (2007). Based on this, some new environmental efficiency (EE) measures are presented. The Coelli et al. (2007) EE measure and its extension by Rødseth (2016) produce biased...

This article provides a generalization of the materials balance-based production model introduced by Coelli et al. (2007). Based on this, some new environmental efficiency (EE) measures are presented. The Coelli et al. (2007) EE measure and its extension by Rødseth (2016) produce biased...

This paper briefly reviews the existing methods of capacity utilization in nonparametric framework from economic perspectives, and then suggests an alternative in the light of limitations therein. In the spirit of work by Coelli et al. [Coelli, T.J., Grifell-Tatje, E., Perelman, S., 2002....

Grifell-Tatje and Lovell (Grifell-Tatje, E., Lovell, C.A.K., 1999. Profits and productivity. Management Science 45, 1177-1193) made significant contributions to the literature on the extended radial DEA framework by decomposing profit change into six mutually exclusive components. Their...

This paper comprehensively explores the compelling framework encompassing Opportunity Econophysics, Opportunity Cones, Conscious Agents, and the Traces of the Conscious Dimension within the context of economic systems. The interdisciplinary nature of this framework integrates concepts from...

In this contribution, first the concept of returns to growth (RTG) of a high-tech firm facing hyper-competition in the new economy is introduced by describing a proportional relationship between growth in inputs and growth in outputs using the growth efficiency (GE) model of Sengupta (2002)....

In village economies, insurance networks are key to smoothing shocks, while production networks can propagate them. The interplay of these networks is crucial. We show that a significant health expenditure shock to one household propagates to other linked households via supply-chain and labor...

This paper proposes an alternative specification for technical efficiency effects in a stochastic production frontier model. The proposed specification is distribution free and thus eschews one-sided error term present in almost all the existing inefficiency effects models. The efficiency...

This paper proposes a stochastic frontier panel data model which includes time-invariant unobserved heterogeneity along with the efficiency effects. Following Paul and Shankar (2018), the efficiency effects are specified by a standard normal cumulative distribution function of exogenous...