Scandinavian Working Papers in Economics
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Department Economics, Swedish University of Agricultural Sciences Working Paper Series, Department Economics, Swedish University of Agricultural Sciences

No 2017:1:
Exact and superlative measurement of the Luenberger- Hicks-Moorsteen productivity indicator

Frederic Ang () and Peter Jan Kerstens

Abstract: This paper shows that the Bennet-Bowley profit indicator is an exact and superlative approximation of the additively complete Luenberger Hicks Moorsteen productivity indicator when the input and output directional distance functions can be represented up to the second order by a quadratic functional form. It also establishes the conditions under which the exact and superlative measures of the Luenberger productivity indicator and Luenberger- Hicks-Moorsteen productivity indicator coincide.

Keywords: Bennet-Bowley; diff erence based indicator; total factor productivity; exact and superlative approximation; (follow links to similar papers)

JEL-Codes: C43; D21; D24; (follow links to similar papers)

20 pages, July 2, 2017

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