X.efficiency theory challenges the maximization postulate of standard economic theory. This paper shows that X-inefficiency is. at times, as much as 30 times greater than allocative inefficiency and suggests reasons for the existence of X-inefficiency—-i.e., (a) incomplete employment contracts, (b) discretionary effort, and (c) nonmaximization of profits. [The Social Sciences Citation Index® (S...

This paper provides a concise review of a broad set of concepts, models and estimation issues in the field of stochastic frontier analysis. The goal is to provide practitioners with a quick guide to some key ideas. The review is restricted to single-output models estimated by econometric methods. Among the conceptual issues are the interpretation and the paths to reduce inefficiency. The modell...

This is the Second Edition of Lt.-Col. Hehir's book and is prefaced by a note from Sir O'Moore Creagh, the Commander-in-Chief in India. It is far and away the most useful book on Indian Military Hygiene that we have ever read and should be in the hands of all Medical Officers of the Army. It is so complete and thorough that it is difficult to give a full account of it, but in order that our rea...

Selfish routing in congested networks generally does not minimize total system travel time, and as its direct result, traffic equilibrium is typically inefficient. Bounding the inefficiency of selfish routing has become a recent emerging subject of researches by looking into the worst case ratio of the total cost in a deterministic User Equilibrium (UE) point to the total cost of System Optimum...

Abstract The causes of market inefficiency are many. We suggest an additional cause — buyers’ random entry order. In a where identical sellers compete for buyers heterogeneous valuations, first come served is the norm. Since all choose cheapest available good, low-valuation buyer who enters late may find remaining goods unaffordable, which markets not to clear. therefore propose coordination so...

We demonstrate how earlier approaches to model the impact that corporate social responsibility (CSR) has on investment inefficiency are likely be incorrect and propose use of stochastic frontier methodology this relationship. apply approach a sample European listed companies, providing robust evidence CSR performance is negatively associated with inefficiency. This result consistent claim high ...