A1 Refereed original research article in a scientific journal
Nonparametric estimation of allocative efficiency using indirect production theory : Application to container ports in Norway
Authors: Rødseth Kenneth Løvold, Holmen Rasmus Bøgh, Kuosmanen Timo, Schøyen Halvor
Publisher: Springer
Publication year: 2024
Journal: Journal of Productivity Analysis
Journal name in source: Journal of Productivity Analysis
Volume: 62
Issue: 3
First page : 365
Last page: 377
ISSN: 0895-562X
eISSN: 1573-0441
DOI: https://doi.org/10.1007/s11123-024-00719-1
Web address : https://link.springer.com/article/10.1007/s11123-024-00719-1
Self-archived copy’s web address: https://research.utu.fi/converis/portal/detail/Publication/386831321
Adaption to prices is an important feature of productivity development. This paper proposes an extension of the StoNED model to accommodate estimation of allocative efficiency. It demonstrates how indirect production theory is suited for assessing allocative efficiency and helps alleviating the curse of dimensionality for stochastic nonparametric estimators compared to conventional measures of allocative efficiency. Furthermore, the paper elaborates on the appropriate cost of capital for the estimation of allocative efficiency. The proposed model framework is utilized to study allocative efficiency of Norwegian container ports, thereby adding to the literature on seaport terminal efficiency studies. © 2024, The Author(s).
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