Publication: Stochastic Frontiers and Asymmetric Information Models
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1998
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Abstract
This article suggests that the global inefficiency which generally affects a production process is endogenous and depends on the incentives generated by the process environment. We propose to treat the usual correlation between the inefficiency and the regressors of the production frontier through the economic constraints that interfere on the activity of the producer.
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Asymetric information, regulation, transport, economic models