Distance Function Approach to Measure Efficiency
V. Munaiah
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Distance Function Approach to Measure Efficiency

Data Envelopment Analysis

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In order to measure the technical efficiency of any observed input-output bundle one needs to know the maximum quantity of output that can be produced from the relevant input bundle. One possibility is to explicitly specify a production function. The value of this function at the input level under consideration denotes the maximum producible output quantity. It is common to estimate the parameters of the specified function empirically from a sample of input-output data. Because the least squares procedure permits observed points to lie above the fitted line, in a stochastic frontier model one ...