A systematic treatment of dynamic decision making and performance measurement Modern business environments are dynamic. Yet, the models used to make decisions and quantify success within them are stuck in the past. In a world where demands, resources, and technology are interconnected and evolving, measures of efficiency need to reflect that environment. In Dynamic Efficiency and Productivity Measurement, Elvira Silva, Spiro E. Stefanou, and Alfons Oude Lansink look at the business process from a dynamic perspective. Their systematic study covers dynamic production environments where current production decisions impact future production possibilities. By considering practical factors like adjustments over time, this book offers an important lens for contemporary microeconomic analysis. Silva, Stefanou, and Lansink develop the analytical foundations of dynamic production technology in both primal and dual representations, with an emphasis on directional distance functions. They cover concepts measuring the production structure (economies of scale, economies of scope, capacity utilization) and performance (allocative, scale and technical inefficiency, productivity) in a methodological and comprehensive way. Through a unified approach, Dynamic Efficiency and Productivity Measurement offers a guide to how firms maximize potential in changing environments and an invaluable contribution to applied microeconomics.

Provides a comprehensive approach to productivity and efficiency analysis using economic and econometric theory.

"The book takes on a systematic treatment of dynamic decision making and performance measurement. The analytical foundations of the dynamic production technology are introduced and developed in detail for several primal representations of the technology with an emphasis on dynamic directional distance functions. Dynamic cost minimization and dynamic profit maximization are developed for primal and dual representations of the dynamic technology. A dynamic production environment can be characterized as one where current production decisions impact future production possibilities. Consequently, the dynamic perspective of production relationships necessarily involves the close interplay between stock and flow elements in the transformation process, and how current decisions impact the changes in future stocks. Stock elements in the production transformation process can involve physical elements that can be effectively employed in the transformation process that can include the stock of technical knowledge and expertise available to the decision maker during the decision period. The dynamic generalization of concepts measuring the production structure (e.g., economies of scale, economies of scope, capacity utilization) and performance (e.g., allocative, scale and technical inefficiency, productivity) are developed from primal and dual perspectives"--

A systematic treatment of dynamic decision making and performance measurement Modern business environments are dynamic. Yet, the models used to make decisions and quantify success within them are stuck in the past. In a world where demands, resources, and technology are interconnected and evolving, measures of efficiency need to reflect that environment. In Dynamic Efficiency and Productivity Measurement, Elvira Silva, Spiro E. Stefanou, and Alfons Oude Lansink look at the business process from a dynamic perspective. Their systematic study covers dynamic production environments where current production decisions impact future production possibilities. By considering practical factors like adjustments over time, this book offers an important lens for contemporary microeconomic analysis. Silva, Stefanou, and Lansink develop the analytical foundations of dynamic production technology in both primal and dual representations, with an emphasis on directional distance functions. They cover concepts measuring the production structure (economies of scale, economies of scope, capacity utilization) and performance (allocative, scale and technical inefficiency, productivity) in a methodological and comprehensive way. Through a unified approach, Dynamic Efficiency and Productivity Measurement offers a guide to how firms maximize potential in changing environments and an invaluable contribution to applied microeconomics.

Softcover version of the second edition Hardcover. Incorporates a new author, Dr. Chris O'Donnell, who brings considerable expertise to the project in the area of performance measurement. Numerous topics are being added and more applications using real data, as well as exercises at the end of the chapters. Data sets, computer codes and software will be available for download from the web to accompany the volume.

This proceedings volume examines the state-of-the art of productivity and efficiency analysis and adds to the existing research by bringing together a selection of the best papers from the 8th North American Productivity Workshop (NAPW). It also aims to analyze world-wide perspectives on challenges that local economies and institutions may face when changes in productivity are observed. The volume comprises of seventeen papers that deal with productivity measurement, productivity growth, dynamics of productivity change, measures of labor productivity, measures of technical efficiency in different sectors, frontier analysis, measures of performance, industry instability and spillover effects. These papers are relevant to academia, but also to public and private sectors in terms of the challenges firms, financial institutions, governments and individuals may face when dealing with economic and education related activities that lead to increase or decrease of productivity. The North American Productivity Workshop brings together academic scholars and practitioners in the field of productivity and efficiency analysis from all over the world. It is a four day conference exploring topics related to productivity, production theory and efficiency measurement in economics, management science, operations research, public administration, and related fields. The papers in this volume also address general topics as health, energy, finance, agriculture, utilities, and economic dev elopment, among others. The editors are comprised of the 2014 local organizers, program committee members, and celebrated guest conference speakers.

Presents the proceedings of two workshops on productivity measurement and analysis, which brought together representatives of statistical offices, central banks and other officials involved with the analysis and measurement of productivity at aggregate and industry levels.