estimation of technology parameters when panel data is available. Our approach is based on the assertion that if deviations from … ; Thick Frontier Approach ; X-efficiency …

is to compare the relative efficiency of hotel chains operating in Spain. To do this, we have designed a stochastic … frontier model to measure revenue efficiency as a function of various different inputs such as total staff or number of rooms … proportion of hotels in the chain with three stars or fewer, into the efficiency term of the stochastic frontier model. Our …

In presence of panel data, technical efficiency is used to compare the performances of Decision-Making Units (DMUs … algorithm is proposed for statistical inference on the Technical Efficiency (TE) measures. Results for Moroccan policy of the …

level is ignored, the estimation of marginal costs and the degree of economies of scale are incorrect. The measurement of …In this paper, a theoretical relationship is obtained to measure the effect that inefficiency has on marginal costs … productive capacity. In addition, the effect of technical change on costs could be erroneously estimated. The empirical …

their return on asset variation, but also incur extra costs from setting up and maintaining a costly hedging program and … from entering and exiting hedging positions. Such extra costs lower the airlines' average return and hurt their valuation …