() and Peter Jan Kerstens
Frederic Ang: Department of Economics, Swedish University of Agricultural Sciences, Postal: Box 7013, Swedish University of Agricultural Sciences, SE-750 07 Uppsala, Sweden
Peter Jan Kerstens: Center for Economic Studies, Postal: KU Leuven, E. Sabbelaan 53, B-8500 Kortrijk,, Belgium,
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.
20 pages, July 2, 2017
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