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A Bayesian Approach To Dynamic Efficiency And Productivity Measurement
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Book Synopsis A Bayesian Approach to Dynamic Efficiency and Productivity Measurement by : Ioannis Skevas
Download or read book A Bayesian Approach to Dynamic Efficiency and Productivity Measurement written by Ioannis Skevas and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The vast majority of the efficiency and productivity measurement literature has been based on the static viewpoint of the firm. Few studies have developed the dynamic analog of static efficiency measurement, introducing the notions of long-run efficiency and inefficiency persistence. However, these few existing dynamic efficiency studies have not provided any empirical evidence on the driving forces of firms' long-run efficiency and inefficiency persistence. Furthermore, calculation of Total Factor Productivity growth has predominantly been based on static efficiency specifications. This di...
Book Synopsis Dynamic Efficiency and Productivity Measurement by : Elvira Silva
Download or read book Dynamic Efficiency and Productivity Measurement written by Elvira Silva and published by Oxford University Press. This book was released on 2020-11-03 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic treatment of dynamic decision making and performance measurement Modern business environments are dynamic. Yet, the models used to make decisions and quantify success within them are stuck in the past. In a world where demands, resources, and technology are interconnected and evolving, measures of efficiency need to reflect that environment. In Dynamic Efficiency and Productivity Measurement, Elvira Silva, Spiro E. Stefanou, and Alfons Oude Lansink look at the business process from a dynamic perspective. Their systematic study covers dynamic production environments where current production decisions impact future production possibilities. By considering practical factors like adjustments over time, this book offers an important lens for contemporary microeconomic analysis. Silva, Stefanou, and Lansink develop the analytical foundations of dynamic production technology in both primal and dual representations, with an emphasis on directional distance functions. They cover concepts measuring the production structure (economies of scale, economies of scope, capacity utilization) and performance (allocative, scale and technical inefficiency, productivity) in a methodological and comprehensive way. Through a unified approach, Dynamic Efficiency and Productivity Measurement offers a guide to how firms maximize potential in changing environments and an invaluable contribution to applied microeconomics.
Book Synopsis An Introduction to Efficiency and Productivity Analysis by : Timothy J. Coelli
Download or read book An Introduction to Efficiency and Productivity Analysis written by Timothy J. Coelli and published by Springer Science & Business Media. This book was released on 2005-12-06 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Softcover version of the second edition Hardcover. Incorporates a new author, Dr. Chris O'Donnell, who brings considerable expertise to the project in the area of performance measurement. Numerous topics are being added and more applications using real data, as well as exercises at the end of the chapters. Data sets, computer codes and software will be available for download from the web to accompany the volume.
Book Synopsis A Bayesian Approach to Energy Monitoring Optimization by : Herman Carstens
Download or read book A Bayesian Approach to Energy Monitoring Optimization written by Herman Carstens and published by . This book was released on 2017 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis develops methods for reducing energy Measurement and Verification (M&V) costs through the use of Bayesian statistics. M&V quantifies the savings of energy efficiency and demand side projects by comparing the energy use in a given period to what that use would have been, had no interventions taken place. The case of a large-scale lighting retrofit study, where incandescent lamps are replaced by Compact Fluorescent Lamps (CFLs), is considered. These projects often need to be monitored over a number of years with a predetermined level of statistical rigour, making M&V very expensive. M&V lighting retrofit projects have two interrelated uncertainty components that need to be addressed, and which form the basis of this thesis. The first is the uncertainty in the annual energy use of the average lamp, and the second the persistence of the savings over multiple years, determined by the number of lamps that are still functioning in a given year. For longitudinal projects, the results from these two aspects need to be obtained for multiple years. This thesis addresses these problems by using the Bayesian statistical paradigm. Bayesian statistics is still relatively unknown in M&V, and presents an opportunity for increasing the efficiency of statistical analyses, especially for such projects. After a thorough literature review, especially of measurement uncertainty in M&V, and an introduction to Bayesian statistics for M&V, three methods are developed. These methods address the three types of uncertainty in M&V: measurement, sampling, and modelling. The first method is a low-cost energy meter calibration technique. The second method is a Dynamic Linear Model (DLM) with Bayesian Forecasting for determining the size of the metering sample that needs to be taken in a given year. The third method is a Dynamic Generalised Linear Model (DGLM) for determining the size of the population survival survey sample. It is often required by law that M&V energy meters be calibrated periodically by accredited laboratories. This can be expensive and inconvenient, especially if the facility needs to be shut down for meter installation or removal. Some jurisdictions also require meters to be calibrated in-situ; in their operating environments. However, it is shown that metering uncertainty makes a relatively small impact to overall M&V uncertainty in the presence of sampling, and therefore the costs of such laboratory calibration may outweigh the benefits. The proposed technique uses another commercial-grade meter (which also measures with error) to achieve this calibration in-situ. This is done by accounting for the mismeasurement effect through a mathematical technique called Simulation Extrapolation (SIMEX). The SIMEX result is refined using Bayesian statistics, and achieves acceptably low error rates and accurate parameter estimates. The second technique uses a DLM with Bayesian forecasting to quantify the uncertainty in metering only a sample of the total population of lighting circuits. A Genetic Algorithm (GA) is then applied to determine an efficient sampling plan. Bayesian statistics is especially useful in this case because it allows the results from previous years to inform the planning of future samples. It also allows for exact uncertainty quantification, where current confidence interval techniques do not always do so. Results show a cost reduction of up to 66%, but this depends on the costing scheme used. The study then explores the robustness of the efficient sampling plans to forecast error, and finds a 50% chance of undersampling for such plans, due to the standard M&V sampling formula which lacks statistical power. The third technique uses a DGLM in the same way as the DLM, except for population survival survey samples and persistence studies, not metering samples. Convolving the binomial survey result distributions inside a GA is problematic, and instead of Monte Carlo simulation, a relatively new technique called Mellin Transform Moment Calculation is applied to the problem. The technique is then expanded to model stratified sampling designs for heterogeneous populations. Results show a cost reduction of 17-40%, although this depends on the costing scheme used. Finally the DLM and DGLM are combined into an efficient overall M&V plan where metering and survey costs are traded off over multiple years, while still adhering to statistical precision constraints. This is done for simple random sampling and stratified designs. Monitoring costs are reduced by 26-40% for the costing scheme assumed. The results demonstrate the power and flexibility of Bayesian statistics for M&V applications, both in terms of exact uncertainty quantification, and by increasing the efficiency of the study and reducing monitoring costs.
Book Synopsis Productivity and Efficiency Analysis by : Christopher J. O'Donnell
Download or read book Productivity and Efficiency Analysis written by Christopher J. O'Donnell and published by Springer. This book was released on 2018-12-12 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a coherent description of the main concepts and statistical methods used to analyse economic performance. The focus is on measures of performance that are of practical relevance to policy makers. Most, if not all, of these measures can be viewed as measures of productivity and/or efficiency. Linking fields as diverse as index number theory, data envelopment analysis and stochastic frontier analysis, the book explains how to compute measures of input and output quantity change that are consistent with measurement theory. It then discusses ways in which meaningful measures of productivity change can be decomposed into measures of technical progress, environmental change, and different types of efficiency change. The book is aimed at graduate students, researchers, statisticians, accountants and economists working in universities, regulatory authorities, government departments and private firms. The book contains many numerical examples. Computer codes and datasets are available on a companion website.
Book Synopsis The Measurement of Productive Efficiency and Productivity Growth by : Harold O. Fried
Download or read book The Measurement of Productive Efficiency and Productivity Growth written by Harold O. Fried and published by Oxford University Press. This book was released on 2008-02-04 with total page 723 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Harold Fried, et al. published The Measurement of Productive Efficiency: Techniques and Applications with OUP in 1993, the book received a great deal of professional interest for its accessible treatment of the rapidly growing field of efficiency and productivity analysis. The first several chapters, providing the background, motivation, and theoretical foundations for this topic, were the most widely recognized. In this tight, direct update, these same editors have compiled over ten years of the most recent research in this changing field, and expanded on those seminal chapters. The book will guide readers from the basic models to the latest, cutting-edge extensions, and will be reinforced by references to classic and current theoretical and applied research. It is intended for professors and graduate students in a variety of fields, ranging from economics to agricultural economics, business administration, management science, and public administration. It should also appeal to public servants and policy makers engaged in business performance analysis or regulation.
Book Synopsis Efficient Bayesian Inference for Dynamic Mixture Models by : Richard Gerlach
Download or read book Efficient Bayesian Inference for Dynamic Mixture Models written by Richard Gerlach and published by . This book was released on 2000 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Productivity and Efficiency Analysis by : William H. Greene
Download or read book Productivity and Efficiency Analysis written by William H. Greene and published by Springer. This book was released on 2015-12-29 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings volume examines the state-of-the art of productivity and efficiency analysis and adds to the existing research by bringing together a selection of the best papers from the 8th North American Productivity Workshop (NAPW). It also aims to analyze world-wide perspectives on challenges that local economies and institutions may face when changes in productivity are observed. The volume comprises of seventeen papers that deal with productivity measurement, productivity growth, dynamics of productivity change, measures of labor productivity, measures of technical efficiency in different sectors, frontier analysis, measures of performance, industry instability and spillover effects. These papers are relevant to academia, but also to public and private sectors in terms of the challenges firms, financial institutions, governments and individuals may face when dealing with economic and education related activities that lead to increase or decrease of productivity. The North American Productivity Workshop brings together academic scholars and practitioners in the field of productivity and efficiency analysis from all over the world. It is a four day conference exploring topics related to productivity, production theory and efficiency measurement in economics, management science, operations research, public administration, and related fields. The papers in this volume also address general topics as health, energy, finance, agriculture, utilities, and economic dev elopment, among others. The editors are comprised of the 2014 local organizers, program committee members, and celebrated guest conference speakers.
Book Synopsis Bayesian Approach to Disentangling Technical and Environmental Productivity by : Emir Malikov
Download or read book Bayesian Approach to Disentangling Technical and Environmental Productivity written by Emir Malikov and published by . This book was released on 2015 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper models the firm's production process as a system of simultaneous technologies for desirable and undesirable outputs. Desirable outputs are produced by transforming inputs via the conventional transformation function, whereas (consistent with the material balance condition) undesirable outputs are by-produced via the so-called "residual generation technology". By separating the production of undesirable outputs from that of desirable outputs, not only do we ensure that undesirable outputs are not modeled as inputs and thus satisfy costly disposability, but we are also able to differentiate between the traditional (desirable-output-oriented) technical productivity and the undesirable-output-oriented environmental, or so-called "green", productivity. To measure the latter, we derive a Solow-type Divisia environmental productivity index which, unlike conventional productivity indices, allows crediting the ceteris paribus reduction in undesirable outputs. Our index also provides a meaningful way to decompose environmental productivity into environmental technological and efficiency changes.
Book Synopsis Data Science and Productivity Analytics by : Vincent Charles
Download or read book Data Science and Productivity Analytics written by Vincent Charles and published by Springer Nature. This book was released on 2020-05-23 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book includes a spectrum of concepts, such as performance, productivity, operations research, econometrics, and data science, for the practically and theoretically important areas of ‘productivity analysis/data envelopment analysis’ and ‘data science/big data’. Data science is defined as the collection of scientific methods, processes, and systems dedicated to extracting knowledge or insights from data and it develops on concepts from various domains, containing mathematics and statistical methods, operations research, machine learning, computer programming, pattern recognition, and data visualisation, among others. Examples of data science techniques include linear and logistic regressions, decision trees, Naïve Bayesian classifier, principal component analysis, neural networks, predictive modelling, deep learning, text analysis, survival analysis, and so on, all of which allow using the data to make more intelligent decisions. On the other hand, it is without a doubt that nowadays the amount of data is exponentially increasing, and analysing large data sets has become a key basis of competition and innovation, underpinning new waves of productivity growth. This book aims to bring a fresh look onto the various ways that data science techniques could unleash value and drive productivity from these mountains of data. Researchers working in productivity analysis/data envelopment analysis will benefit from learning about the tools available in data science/big data that can be used in their current research analyses and endeavours. The data scientists, on the other hand, will also get benefit from learning about the plethora of applications available in productivity analysis/data envelopment analysis.
Book Synopsis International Applications of Productivity and Efficiency Analysis by : Thomas R. Gulledge
Download or read book International Applications of Productivity and Efficiency Analysis written by Thomas R. Gulledge and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Applications of Productivity and Efficiency Analysis features a complete range of techniques utilized in frontier analysis, including extensions of existing techniques and the development of new techniques. Another feature is that most of the contributions use panel data in a variety of approaches. Finally, the range of empirical applications is at least as great as the range of techniques, and many of the applications are of considerable policy relevance.
Book Synopsis The Measurement of Productive Efficiency and Productivity Growth by : Harold O. Fried
Download or read book The Measurement of Productive Efficiency and Productivity Growth written by Harold O. Fried and published by Oxford University Press. This book was released on 2008-02-04 with total page 653 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Harold Fried, et al. published The Measurement of Productive Efficiency: Techniques and Applications with OUP in 1993, the book received a great deal of professional interest for its accessible treatment of the rapidly growing field of efficiency and productivity analysis. The first several chapters, providing the background, motivation, and theoretical foundations for this topic, were the most widely recognized. In this tight, direct update, these same editors have compiled over ten years of the most recent research in this changing field, and expanded on those seminal chapters. The book will guide readers from the basic models to the latest, cutting-edge extensions, and will be reinforced by references to classic and current theoretical and applied research. It is intended for professors and graduate students in a variety of fields, ranging from economics to agricultural economics, business administration, management science, and public administration. It should also appeal to public servants and policy makers engaged in business performance analysis or regulation.
Book Synopsis Producer Dynamics by : Timothy Dunne
Download or read book Producer Dynamics written by Timothy Dunne and published by University of Chicago Press. This book was released on 2009-05-15 with total page 623 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.
Book Synopsis The Measurement of Productive Efficiency by : Harold O. Fried
Download or read book The Measurement of Productive Efficiency written by Harold O. Fried and published by Oxford University Press. This book was released on 1993-04-22 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work focuses on measuring and explaining producer performance. The authors view performance as a function of the state of technology and economic efficiency, with the former defining a frontier relation between inputs and outputs; the former incorporating waste and misallocation relative to this frontier. They show that insights can be gained by allowing for the possibility of a divergence between the economic objective and actual performance, and by associating this inefficiency with causal variables subject to managerial or policy influence. Derived from a series of lectures held on techniques and applications of the three approaches to the construction of production frontiers and measure of efficiency, this work will be an essential reference to scholars of a variety of disciplines who are involved with quantitative methods or policy.
Download or read book Production Frontiers written by Rolf Fare and published by Cambridge University Press. This book was released on 1994 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a mathematical programming approach to the analysis of production frontiers and efficiency measurement. The authors construct a variety of production frontiers, and by measuring distances to them are able to develop a model of efficient producer behaviour and a taxonomy of possible types of departure from efficiency in various environments. Linear programming is used as an analytical and computational technique in order to accomplish this. The approach developed is then applied to modelling producer behaviour. By focusing on the empirical relevance of production frontiers and distances to them, and applying linear programming techniques to artificial data to illustrate the type of information they can generate, this book provides a unique study in applied production analysis. It will be of interest to scholars and students of economics and operations research, and analysts in business and government.
Book Synopsis A Practitioner's Guide to Stochastic Frontier Analysis Using Stata by : Subal C. Kumbhakar
Download or read book A Practitioner's Guide to Stochastic Frontier Analysis Using Stata written by Subal C. Kumbhakar and published by Cambridge University Press. This book was released on 2015-01-26 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Practitioner's Guide to Stochastic Frontier Analysis Using Stata provides practitioners in academia and industry with a step-by-step guide on how to conduct efficiency analysis using the stochastic frontier approach. The authors explain in detail how to estimate production, cost, and profit efficiency and introduce the basic theory of each model in an accessible way, using empirical examples that demonstrate the interpretation and application of models. This book also provides computer code, allowing users to apply the models in their own work, and incorporates the most recent stochastic frontier models developed in academic literature. Such recent developments include models of heteroscedasticity and exogenous determinants of inefficiency, scaling models, panel models with time-varying inefficiency, growth models, and panel models that separate firm effects and persistent and transient inefficiency. Immensely helpful to applied researchers, this book bridges the chasm between theory and practice, expanding the range of applications in which production frontier analysis may be implemented.
Book Synopsis Exploring Research Frontiers in Contemporary Statistics and Econometrics by : Ingrid Van Keilegom
Download or read book Exploring Research Frontiers in Contemporary Statistics and Econometrics written by Ingrid Van Keilegom and published by Springer Science & Business Media. This book was released on 2011-09-15 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects contributions written by well-known statisticians and econometricians to acknowledge Léopold Simar’s far-reaching scientific impact on Statistics and Econometrics throughout his career. The papers contained herein were presented at a conference in Louvain-la-Neuve in May 2009 in honor of his retirement. The contributions cover a broad variety of issues surrounding frontier estimation, which Léopold Simar has contributed much to over the past two decades, as well as related issues such as semiparametric regression and models for censored data. This book collects contributions written by well-known statisticians and econometricians to acknowledge Léopold Simar’s far-reaching scientific impact on Statistics and Econometrics throughout his career. The papers contained herein were presented at a conference in Louvain-la-Neuve in May 2009 in honor of his retirement. The contributions cover a broad variety of issues surrounding frontier estimation, which Léopold Simar has contributed much to over the past two decades, as well as related issues such as semiparametric regression and models for censored data.
