Bayesian measurement of productivity and efficiency in the presence of undesirable outputs : crediting electric utilities for reducing air pollution

@inproceedings{Atkinsona2005BayesianMO,
  title={Bayesian measurement of productivity and efficiency in the presence of undesirable outputs : crediting electric utilities for reducing air pollution},
  author={Scott E. Atkinsona and Jeffrey H. Dorfmanb},
  year={2005}
}
  • Scott E. Atkinsona, Jeffrey H. Dorfmanb
  • Published 2005
Many studies have measured productivity change and efficiency when an undesirable output is a by-product. We flexibly treat the bad as a technology shifter of an input distance function and model a system of nonlinear equations subject to endogeneity. Theory dictates that we impose monotonicity on all inputs, outputs, and the bad. Since a Bayesian full-information likelihood approach can easily be misspecified, we utilize the Kim (J. Econometrics 107 (2002) 175) limited-information likelihood… CONTINUE READING
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