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Stochastic Frontiers and Asymmetric Information Models

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorGagnepain, Philippe
dc.contributor.authorIvaldi, Marc
dc.date.accessioned2014-05-21T13:24:59Z
dc.date.available2014-05-21T13:24:59Z
dc.date.issued2002
dc.description.abstractThis article is an attempt to shed light on the specification and identification of inefficiency in stochastic frontiers.We consider the case of a regulated firm or industry. Applying a simple principal-agent framework that accounts for informational asymmetries to this context, we derive the associated production and cost frontiers. Noticeably this approach yields a decomposition of inefficiency into two components: The first component is a pure random term while the second component depends on the unobservable actions taken by the agent (the firm). This result provides a theoretical foundation to the usual specification applied in the literature on stochastic frontiers. An application to a panel data set of French urban transport networks serves as an illustration.en
dc.description.statusPublicadoes
dc.format.extent15
dc.format.mimetypeapplication/pdf
dc.identifier.bibliographicCitationJournal of Productivity Analysis. 2002, 18 (2), p. 145-159en
dc.identifier.doi10.1023/A:1016582220790
dc.identifier.issn0895-562X
dc.identifier.publicationfirstpage145
dc.identifier.publicationissue2
dc.identifier.publicationlastpage159
dc.identifier.publicationtitleJournal of Productivity Analysisen
dc.identifier.publicationvolume18
dc.identifier.urihttps://hdl.handle.net/10016/5030
dc.language.isoengen
dc.publisherKluweren
dc.relation.isversionofhttp://hdl.handle.net/10016/5038
dc.relation.publisherversionhttp://www.dx.doi.org/10.1023/A:1016582220790
dc.rights© Kluweren
dc.rights.accessRightsopen accessen
dc.subject.ecienciaEconomíaes
dc.subject.otherCost and production stochastic frontiersen
dc.subject.otherAsymmetric informationen
dc.subject.otherTechnical inefficiencyen
dc.subject.otherEffort regulationen
dc.subject.otherTest of especificationen
dc.subject.otherUrban transporten
dc.titleStochastic Frontiers and Asymmetric Information Modelsen
dc.typeresearch article*
dc.type.hasVersionAM*
dc.type.reviewPeerRevieweden
dspace.entity.typePublication
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