Using ex ante output elicitation to model state-contingent technologies

Robert G. Chambers; Teresa Serra; Spiro E. Stefanou

doi:10.1007/s11123-014-0385-z

Using ex ante output elicitation to model state-contingent technologies

Robert G. Chambers, Teresa Serra, Spiro E. Stefanou

Research output: Contribution to journal › Article › peer-review

Abstract

Survey-elicited ex ante outputs are used to develop an empirical representation of an Arrow–Debreu–Savage state-contingent technology in an activity-analysis framework. An empirical test of output-cubicality is developed for that framework. We apply those tools to assess production characteristics of a sample of Catalan farmers specialized in arable crops. Results suggest that imposing nonsubstitutability between ex ante outputs results in no significant loss of information. Even though the technology appears to be output cubical, efficiency measurements based on ex post output observations do not appear to adequately represent the stochastic production environment and apparently yield downward biased technical efficiency measures.

Original language	English (US)
Pages (from-to)	75-83
Number of pages	9
Journal	Journal of Productivity Analysis
Volume	43
Issue number	1
DOIs	https://doi.org/10.1007/s11123-014-0385-z
State	Published - Feb 1 2015
Externally published	Yes

Keywords

Inefficiency
Output cubicality
State-contingent production
Uncertainty

ASJC Scopus subject areas

Business and International Management
Social Sciences (miscellaneous)
Economics and Econometrics

Online availability

10.1007/s11123-014-0385-z

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AU - Stefanou, Spiro E.

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AB - Survey-elicited ex ante outputs are used to develop an empirical representation of an Arrow–Debreu–Savage state-contingent technology in an activity-analysis framework. An empirical test of output-cubicality is developed for that framework. We apply those tools to assess production characteristics of a sample of Catalan farmers specialized in arable crops. Results suggest that imposing nonsubstitutability between ex ante outputs results in no significant loss of information. Even though the technology appears to be output cubical, efficiency measurements based on ex post output observations do not appear to adequately represent the stochastic production environment and apparently yield downward biased technical efficiency measures.

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KW - State-contingent production

KW - Uncertainty

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Using ex ante output elicitation to model state-contingent technologies

Abstract

Keywords

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