Managerial economics is the combination of management and economics. In simple words management is the planning, organizing, leading and controlling the efforts of a group of peoples towards some ...

Vol. 3, No. 1/2, Special Issue: International Applications of Productivity and Efficiency Analysis (June 1992), pp. 153-169 (17 pages) Frontier production functions are important for the prediction of ...

Two models of technical inefficiency with a stochastic production frontier are considered in this paper. In the first model, it is assumed that the frontier itself does not vary with time, while in ...