The field of productive efficiency analysis is currently divided between two main paradigms: the deterministic, nonparametric Data Envelopment Analysis (DEA) and the parametric Stochastic Frontier Analysis (SFA). This paper examines an encompassing semiparametric frontier model that combines the DEA-type nonparametric frontier, which satisfies monotonicity and concavity, with the SFA-style stoc...

The purpose of this study was to measure the technical efficiency of canola farmers and determine the underpinning factors. Required data were collected using stratified random sampling method and questionnaire survey. In this context, 157 canola farmers from Tabriz County, Iran, were asked to fill out the questionnaire in 2012-2013 growing season. The technical efficiency was evaluated using s...

Markov chain Monte Carlo (MCMC) methods have become a ubiquitous tool in Bayesian analysis. This paper implements MCMC methods for Bayesian analysis of stochastic frontier models using the WinBUGS package, a freely available software. General code for cross-sectional and panel data are presented and various ways of summarizing posterior inference are discussed. Several examples illustrate that ...

Rice farming in swamps, a marginal land, has relatively high risk related to the level of technical efficiency. This research was conducted with aim identifying efficiency and influence factors inefficiency Lakbok Subdistrict, Ciamis District, Indonesia. Simple random sampling used sample size 41 farmers. The analysis carried out using stochastic frontier function. results showed that average 0...

We explore the asset pricing implications of an investment-based model that features a stochastic technology frontier and costly technology adoption. Firms adopt the latest technology embodied in new capital to reach a stochastic technology frontier, but this decision entails an adoption cost. The model predicts that old capital firms are more risky and hence offer a higher returns than young c...

We study the impact of the technological change on asset prices in a dynamic model economy that features a stochastic technology frontier and costly technology adoption. Firms adopt the latest technology embodied in new capital to reach the stochastic technology frontier, but this decision entails an adoption cost. The model predicts that firms operating with old capital are more risky and henc...