Note on: Measuring Economic Efficiency under Imperfect Price Information
European Journal of Operational Research , Volume 144 - Issue 2 p. 454- 457
This note identifies and corrects a technical error in T. Kuosmanen, G.T. Post, Eur. J. Oper. Res. 134 (2001) 43-58
Kuosmanen and Post demonstrated how to compute upper and lower bounds for economic efficiency when price information is available only in incomplete form.
This note identifies and corrects a technical error associated with the lower bound. In addition, we demonstrate that the lower bound theorem still applies if the error is corrected. Furthermore, we present a revised algorithm for the empirical estimator for the lower bound.
|Data envelopment analysis (DEA), Economic efficiency measurement, Free disposable hull (FDH), Imperfect competition, Weight-restricted models|
|ERIM Top-Core Articles|
|European Journal of Operational Research|
|Organisation||Erasmus Research Institute of Management|
Kuosmanen, T, & Post, G.T. (2003). Note on: Measuring Economic Efficiency under Imperfect Price Information. European Journal of Operational Research, 144(2), 454–457. doi:10.1016/S0377-2217(01)00398-8