Measuring and explaining farm inefficiency in a panel data set of mixed farms

This paper aims to estimate a translog stochastic frontier production function in the analysis of a panel of 150 mixed Catalan farms in the period 1989-1993, in order to attempt to measure and explain variation in technical inefficiency scores with a one-stage approach. The model uses gross value added as the output aggregate measure. Total employment, fixed capital, current assets, specific costs and overhead costs are introduced into the model as inputs. Stochasticfrontier estimates are compared with those obtained using a linear programming method using a two-stage approach. The specification of the translog stochastic frontier model appears as an appropriate representation of the data, technical change was rejected and the technical inefficiency effects were statistically significant. The mean technical efficiency in the period analyzed was estimated to be 64.0%. Farm inefficiency levels were found significantly at 5%level and positively correlated with the number of economic size units.

Productive efficiency and regulatory reform: The case of vehicle inspection services

Measuring productive efficiency provides information on the likely effects of regulatory reform. We present a Data Envelopment Analysis (DEA) of a sample of 38 vehicle inspection units under a concession regime, between the years 2000 and 2004. The differences in efficiency scores show the potential technical efficiency benefit of introducing some form of incentive regulation or of progressing towards liberalization. We also compute scale efficiency scores, showing that only units in territories with very low population density operate at a sub-optimal scale. Among those that operate at an optimal scale, there are significant differences in size; the largest ones operate in territories with the highest population density. This suggests that the introduction of new units in the most densely populated territories (a likely effect of some form of liberalization) would not be detrimental in terms of scale efficiency. We also find that inspection units belonging to a large, diversified firm show higher technical efficiency, reflecting economies of scale or scope at the firm level. Finally, we show that between 2002 and 2004, a period of high regulatory uncertainty in the sample’s region, technical change was almost zero. Regulatory reform should take due account of scale and diversification effects, while at the same time avoiding regulatory uncertainty.

Technical inefficiency and public capital in US States: A stochastic frontier approach

This paper estimates a translog stochastic frontier production function in the analysis of all 48 contiguous U.S. states in the period 1970-1983, to attempt to measure and explain changes in technical efficiency. The model allows technical inefficiency to vary over time, and inefficiency effects to be a function of a set of explanatory variables in which the level and composition of public capital plays an important role. Results indicated that U.S. state inefficiency levels were significantly and positively correlated with the ratio of public capital to private capital. The proportion of public capital devoted to highways is negatively correlated with technical inefficiency, suggesting that not only the level but also the composition of public capital influenced state efficiency.

Market structure and hospital efficiency: Evaluating potential effects of deregulation in a national health service

In this article we examine the potential effect of market structureon hospital technical efficiency as a measure of performance controlled byownership and regulation. This study is relevant to provide an evaluationof the potential effects of recommended and initiated deregulation policiesin order to promote market reforms in the context of a European NationalHealth Service. Our goal was reached through three main empirical stages.Firstly, using patient origin data from hospitals in the region of Cataloniain 1990, we estimated geographic hospital markets through the Elzinga--Hogartyapproach, based on patient flows. Then we measured the market level ofconcentration using the Herfindahl--Hirschman index. Secondly, technicaland scale efficiency scores for each hospital was obtained specifying aData Envelopment Analysis. According to the data nearly two--thirds of thehospitals operate under the production frontier with an average efficiencyscore of 0.841. Finally, the determinants of the efficiency scores wereinvestigated using a censored regression model. Special attention waspaid to test the hypothesis that there is an efficiency improvement in morecompetitive markets. The results suggest that the number of competitors inthe market contributes positively to technical efficiency and there is someevidence that the differences in efficiency scores are attributed toseveral environmental factors such as ownership, market structure andregulation effects.

Eficiencia técnica y convergencia en la industria manufacturera de la Unión Europea

El objetivo de este trabajo es estudiar la evolución de los niveles de eficiencia técnica de los principales sectores de la industria manufacturera europea durante el periodo 1987-1996. Para ello se ha aplicado un análisis envolvente de datos (DEA) con la información obtenida de la base de datos BACH de 1996. Los resultados muestran que la eficiencia media de la industria disminuye en este período. Además, no encontra-mos una evidencia clara de que haya habido convergencia en la eficiencia entre las empresas europeas. No obstante, nuestro análisis revela una relación estrecha del ciclo económico con los niveles de eficiencia y con su dispersión.

Indicadores de la gestión del agua en los canales de Urgell (Lleida)

En este trabajo se presentan los resultados de una serie de indicacores de la gestión del agua en área regada por los canales del Urgell (Lleida), en el ámbito de la cuenca del río Corb de 36350 ha. De la recopilación de 33 evaluaciones de riego al nivel de parcela se observa que en los suelos asentados sobre gravas se da una muy baja eficiencia de aplicación (EA), del 32% de media, mientras que en los suelos sobre lutitas es del 80% de media; pudiéndose dar como cifra promedio de la zona un 43%.

Asymmetric demand information in uniform and discriminatory call auctions: an experimental analysis motivated by electricity markets

We study the outcomes of experimental multi-unit uniform and discriminatory auctions with demand uncertainty. Our study is motivated by the ongoing debate about market design in the electricity industry. Our main aim is to compare the effect of asymmetric demand-information between sellers on the performance of the two auction institutions. In our baseline conditions all sellers have the same information, whereas in our treatment conditions some sellers have better information than others. In both information conditions we find that average transaction prices and price volatility are not significantly different under the two auction institutions. However, when there is asymmetric information among sellers the discriminatory auction is significantly less efficient. These results are not in line with the typical arguments made in favor of discriminatory pricing in electricity industries; namely, lower consumer prices and less price volatility. Moreover, our results provide some indication that discriminatory auctions reduce technical efficiency relative to uniform auctions.

Economic impacts of alternative water policy scenarios in the Spanish production system: an input-output analysis

The objective of this paper is to analyse the economic impacts of alternative water policies implemented in the Spanish production system. The methodology uses two versions of the input-output price model: a competitive formulation and a mark-up formulation. The input-output framework evaluates the impact of water policy measures on production prices, consumption prices, intermediate water demand and private welfare. Our results show that a tax on the water used by sectors considerably reduces the intermediate water demand, and increases the production and consumption prices. On the other hand, according to Jevons' paradox, an improvement in technical efficiency, which leads to a reduction in the water requirements of all sectors and an increase in water production, increases the amount of water consumed. The combination of a tax on water and improved technical efficiency takes the pressure off prices and significantly reduces intermediate water demand. JEL Classification: C67 ; D57 ; Q25. Keywords: Production prices; Consumption prices; Water uses; Water policy; Water taxation.

Segmentación interactiva multi-clase de personas

La segmentació de persones es molt difícil a causa de la variabilitat de les diferents condicions, com la postura que aquestes adoptin, color del fons, etc. Per realitzar aquesta segmentació existeixen diferents tècniques, que a partir d'una imatge ens retornen un etiquetat indicant els diferents objectes presents a la imatge. El propòsit d'aquest projecte és realitzar una comparativa de les tècniques recents que permeten fer segmentació multietiqueta i que son semiautomàtiques, en termes de segmentació de persones. A partir d'un etiquetatge inicial idèntic per a tots els mètodes utilitzats, s'ha realitzat una anàlisi d'aquests, avaluant els seus resultats sobre unes dades publiques, analitzant 2 punts: el nivell de interacció i l'eficiència.

Behavioral aspects of investment fund's markets: are good managers lucky or skilled?

It is generally accepted that financial markets are efficient in the long run a lthough there may be some deviations in the short run. It is also accepted that a good portfolio manager is the one who beats the market persistently along time, this type of manager could not exist if markets were perfectly efficient According to this in a pure efficient market we should find that managers know that they can not beat the market so they would undertake only pure passive management strategies. Assuming a certain degree of inefficiency in the short run, a market may show some managers who tr y to beat the market by undertaking active strategies. From Fama’s efficient markets theory we can state that these active managers may beat the market occasionally although they will not be able to enhance significantly their performance in the long run. On the other hand, in an inefficient market it would be expected to find a higher level of activity related with the higher probability of beating the market. In this paper we follow two objectives: first, we set a basis to analyse the level of efficiency in an asset invest- ment funds market by measuring performance, strategies activity and it’s persistence for a certain group of funds during the period of study. Second, we analyse individual performance persistence in order to determine the existence of skilled managers. The CAPM model is taken as theoretical background and the use of the Sharpe’s ratio as a suitable performance measure in a limited information environment leads to a group performance measurement proposal. The empiri- cal study takes quarterly data from 1999-2007 period, for the whole population of the Spanish asset investment funds market, provided by the CNMV (Comisión Nacional del Mercado de Valores). This period of study has been chosen to ensure a wide enough range of efficient market observation so it would allow us to set a proper basis to compare with the following period. As a result we develop a model that allows us to measure efficiency in a given asset mutual funds market, based on the level of strategy’s activity undertaken by managers. We also observe persistence in individual performance for a certain group of funds

Avaluació de l'aplicació de la biomassa produïda a la Vall d'Alinyà per la producció d'energia calorífica

L’estudi analitza detalladament les energies que s’utilitzen actualment a la població d’Alinyà (Lleida, Catalunya, Espanya). Les energies més utilitzades amb fins calorífics provenen d’energies fòssils (95,3%). Aquest tipus d’energia, des de un punt de vista econòmic, és inviable donat l’augment continuat dels preus d’aquest tipus de combustibles. A més a més el petroli ha arribat al peak oil. Tenint en compte la delicada situació que viuen actualment els combustibles fòssils, en particular el petroli, fa pensar que el futur està encaminat a produir energia a partir d’altres fonts. Una bona opció és començar a utilitzar biomassa com a font energètica. La zona d’estudi presenta un stock de biomassa 8,4 vegades superior a la que es necessitaria a Alinyà per produir calor i ACS a totes les llars. Per això, en aquest estudi, s’estimen possibles escenaris on es podria aplicar la biomassa que es produeix a la Vall d’Alinyà. S’estima que les calderes individuals serien l’escenari més viable, ja que tècnicament són eficients i s’adeqüen a les característiques de les llars d’aquesta població. Posteriorment, es realitza un estudi de les emissions de CO2 i s’observa que, si s’utilitzés biomassa com a font energètica a Alinyà ,es reduirien 11,3 vegades (91,11%) les emissions de CO2.

Why are some Spanish regions so much more efficient than others?

This article investigates the main sources of heterogeneity in regional efficiency. We estimate a translog stochastic frontier production function in the analysis of Spanish regions in the period 1964-1996, to attempt to measure and explain changes in technical efficiency. Our results confirm that regional inefficiency is significantly and positively correlated with the ratio of public capital to private capital. The proportion of service industries in the private capital, the proportion of public capital devoted to transport infrastructures, the industrial specialization, and spatial spillovers from transport infrastructures in neighbouring regions significantly contributed to improve regional efficiency.

Segmentación interactiva multi-clase de personas

La segmentació de persones es molt difícil a causa de la variabilitat de les diferents condicions, com la postura que aquestes adoptin, color del fons, etc. Per realitzar aquesta segmentació existeixen diferents tècniques, que a partir d'una imatge ens retornen un etiquetat indicant els diferents objectes presents a la imatge. El propòsit d'aquest projecte és realitzar una comparativa de les tècniques recents que permeten fer segmentació multietiqueta i que son semiautomàtiques, en termes de segmentació de persones. A partir d'un etiquetatge inicial idèntic per a tots els mètodes utilitzats, s'ha realitzat una anàlisi d'aquests, avaluant els seus resultats sobre unes dades publiques, analitzant 2 punts: el nivell de interacció i l'eficiència.

Prova de camp específica de valoració de la resistència en tennis: resposta cardíaca i efectivitat tècnica en jugadors de competició

Malgrat que la resistència específica del jugador té una influència directa sobre el rendiment en el tennis, un esport intermitent de llarga durada, les proves utilitzades per valorar-la no solen incloure tasques motrius properes a situacions de joc reals i poden ser considerades de baixa especificitat. L’objectiu d’aquest estudi és desenvolupar una prova de camp de valoració de la resistència específica en tennis (Specific Endurance Tennis Test, SET-Test), analitzant el comportament de la freqüència cardíaca (FC) i de paràmetres d’efectivitat tècnica (ET), per tal d’esbrinar una possible relació entre ambdós paràmetres i d’aquests amb el rendiment esportiu en jugadors de competició. Van participar set tennistes masculins, als quals els va ser administrada una prova triangular, progressiva, contínua i d’intensitat màxima conduïda per una màquina llançapilotes, durant la qual es va registrar la FC i, al mateix temps, paràmetres objectius d’ET (precisió i potència) mitjançant el càlcul de percentatge d’encerts i errors. S’observa un punt de deflexió de la FC (PDFC) en un 86 % dels subjectes estudiats, previ o coincident amb una disminució de l’ET (punt de deflexió de l’eficiència tècnica, PDET). Aquests dos punts mesurats de forma simultània al llarg de la prova es mostren relacionats amb el rendiment competitiu dels jugadors estudiats. Es conclou que la prova proposada sembla un mètode específic i vàlid per avaluar la resistència específica i la condició aeròbica en tennistes, tot i que calen més estudis per tal de confirmar les hipòtesis plantejades i la validesa externa de la prova.

The efficiency of indicator groups for the conservation of amphibians in the Brazilian Atlantic Forest

The adequate selection of indicator groups of biodiversity is an important aspect of the systematic conservation planning. However, these assessments differ in the spatial scale, in the methods used and in the groups considered to accomplish this task, which generally produces contradictory results. The quantification of the spatial congruence between species richness and complementarity among different taxonomic groups is a fundamental step to identify potential indicator groups. Using a constructive approach, the main purposes of this study were to evaluate the performance and efficiency of eight potential indicator groups representing amphibian diversity in the Brazilian Atlantic Forest. Data on the geographic range of amphibian species that occur in the Brazilian Atlantic Forest was overlapped to the full geographic extent of the biome, which was divided into a regular equal-area grid. Optimization routines based on the concept of complementarily were applied to verify the performance of each indicator group selected in relation to the representativeness of the amphibians in the Brazilian Atlantic Forest as a whole, which were solved by the algorithm"simulated annealing", through the use of the software MARXAN. Some indicator groups were substantially more effective than others in regards to the representation of the taxonomic groups assessed, which was confirmed by the high significance of data (F = 312.76; p < 0.01). Leiuperidae was considered as the best indicator group among the families analyzed, as it showed a good performance, representing 71% of amphibian species in the Brazilian Atlantic Forest (i.e. 290 species), which may be associated with the diffuse geographic distribution of its species. This study promotes understanding of how the diversity standards of amphibians can be informative for systematic conservation planning on a regional scale.