It is known that the incompleteness of asset markets causes inefficiency in almost every equilibrium. Yet unexplored is the ”size” of this inefficiency. The size of a Pareto improvement is the total willingness to pay for it, out of current consumption. Inefficiency is the maximum size of any Pareto improving reallocation. Inefficiency of US consumption in middle age is computed to be 10-11% of...

Measuring the performance of business processes in the financial services sector can be tackled from different perspectives. The viewpoint of efficiency is one of them. This paper focuses on the analysis of process efficiency and proposes a new methodology for measuring process efficiency and for further identifying drivers of process inefficiency. It is suitable for a specific perspective on p...

This study uses a generalized stochastic frontier framework to model a multiple-output rice production system and analyses farm-level technical inefficiency of rice farming in Assam, India. Primary data for this study was collected in 2009-2010 from 310 farm-households in four non-contiguous districts of Dhubri, Morigaon, Dibrugarh, and Cachar that are located in different agro-climatic regions...

to be found in these pages the latest facts and figures as to what is actually happening but they also reveal how the problem is presenting itself to those most closely at grips with it, and what is the angle from which it is being approached. From the report before us we learn that so far as the working of Section J of the Mental Deficiency Act is concerned, the position is distinctly improvin...

chronic granulomatous disease represents a group of inherited disorders of phagocytic system wherein recurrent infections are seen at different sites especially in the respiratory system. to determine the clinical spectrum of respiratory manifestations in chronic granulomatous disease patients, in this retrospective study, we used data from iranian primary immunodeficiency registry. the diagnos...

Occurrence of chaotic behaviors because of fluctuations creation and their intensified transfer along the chain is one of the main causes of inefficiency of Material Requirements Planning (MRP) based supply chains. One of the reasons of the inefficiency is the lumpiness phenomenon. Through this phenomenon, some parts have an irregular production schedule, with nothing produced in some periods a...

PURPOSES To assess the relationship between hospitals' X-inefficiency levels and overall care quality based on the National Quality Forum's 27 safe practices score and to improve the analytic strategy for assessing X-inefficiency. METHODOLOGY The 2005 versions of the American Hospital Association and Leapfrog Group's annual surveys were the basis of the study. Additional case mix indices and ...

Previous research has argued that debt financing affects equityholders’ investment decisions, producing substantial inefficiency. This paper shows that the size of this inefficiency depends on the degree of investment reversibility. In a dynamic model of financing and investment, the paper provides an upper bound for the inefficiency produced by debt financing. The upper bound is decreasing in ...