Congestion is an important issue that requires the efficiency of decision-making units (DMUs). We first classify conventional congestion into congestion (newly defined) and technical inefficiency, based on prior research and real applications. Modified definitions and mathematical expression of congestion, managerial inefficiency, and technical inefficiency are proposed to better illustrate the...

The shadow return on capital in 75 small municipal water systems is estimated using a gamma frontier variable cost function. The estimated Social Cost of capital exceeds the shadow return by an average ratio of 4.37:1, with a median capital stock inefficiency of $70, 500 per year per system owing to overinvestment in public water supply capital. In addition, actual production costs exceed minim...

I examine inefficiencies in Japanese water utility companies. Efficiency in this context is defined as a firm’s capacity to maximize output given a fixed level of inputs. The findings suggest that the average operation rate, customer density and size variables are associated with lower levels of inefficiency (or higher levels of efficiency), while water purification (a conditioning variable cap...

There is a general perception, based upon casual observation and some systematic empirica! study, that public enterprises are inefllcient.! This paper takes this to be true, and is concerned with the problem of providing a rigorous analysis and explanation of this inefficiency.2 Privatisation, which, in the U.K. at least has received its primary impetus from political and ideological motivarion...

A game of simultaneous free entry and sequential output choices is analyzed. Firms enter simultaneously in stage 1 by paying a fixed cost, and they choose output levels sequentially in subsequent stages. At the subgame-perfect equilibrium of the game, the production level of a firm is decreasing with the order of the firm in the decision-making. The firm that is the last to choose output produc...

The traditional Stochastic Frontier Model (SFM) suffers from a very restrictive assumption of independence its error components and also limited ability to address heterogeneity (inefficiency effects) satisfactorily, thereby leading potential biases in the estimation model parameters, identification inefficiency effect variables influencing efficiency and, ultimately, scores. This paper aims in...

The primary objective of this paper is to test informational efficiency of the A random walk test is performed for weak-form efficiency. In addition, day of the week effects are investigated to test semi-strong form efficiency. Empirical results verify that the İSE Composite Index is neither weak-form nor semi-strong form efficient although the nature and degree of inefficiency differ across pe...

In this paper we discuss the problem of synchronization in ZooKeeper, a fault-tolerant distributed coordination framework. One of the key features of ZooKeeper is to move away from blocking API such as locks, in order to avoid problems with slow or faulty clients. Instead, it provides an event like synchronization mechanism, allowing clients to be notified upon state change on the server. Howev...

The Medicare prospective payment system (PPS) contains incentives for hospitals to improve efficiency by placing them at financial risk to earn a positive margin on services rendered to Medicare patients. Concerns about the financial viability of small rural hospitals led to the implementation of the Medicare Rural Hospital Flexibility Program (Flex Program) of 1997, which allows facilities des...