1. A Measure of Production Performance.
- Author
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Kokic, Philip, Chambers, Ray, Breckling, Jens, and Beare, Steve
- Subjects
PRODUCTION (Economic theory) ,PRODUCTION functions (Economic theory) ,REGRESSION analysis ,ECONOMIC models ,BUSINESS enterprises ,ECONOMETRICS ,ECONOMICS - Abstract
Suppose there are data available on the value of business output, as measured by a single variable y and the values of the corresponding inputs x, with the relationship between y and x determined by an appropriately chosen production function. It is shown how M-quantile regression methods can be used to construct a performance measure that allows a meaningful comparison of the production performance of the businesses. The method is illustrated using survey data collected from farm businesses in the pastoral zone of New South Wales and southern Queensland between 1978 and 1987. [ABSTRACT FROM AUTHOR]
- Published
- 1997
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