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A survey of stochastic frontier models and likely future developments

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Issue Date
2009-01
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.22 No.1, pp. 5-27
Keywords
Stochastic frontiersProduction functionsTechnical efficiencyPanel dataEfficiency measurement
Abstract
This paper summarizes the literature on stochastic frontier

production function models. It covers the definition of technical

efficiency, the basic cross-sectional stochastic frontier model, and

the stochastic frontier model with panel data and time-invariant

as well as time-varying technical inefficiency. It also discusses

models in which technical inefficiency depends on explanatory

variables. Finally, it discusses the problem of inference on the

inefficiencies and makes some predictions about likely future developments

in the field.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/67695
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of Economics (SJE)Seoul Journal of Economics vol.22 no.1~4 (2009)
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