Consistency of returns-to-scale characterizations of production frontiers with respect to model specification |
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| Institution: | 1. School of Business and Economics, Loughborough University, Loughborough LE11 3TU, UK;2. KEDGE Business School, 680 cours de la Libération, Talence Cedex 33405, France;1. School of Economic Mathematics and Collaborative Innovation Center of Financial Security, Southwestern University of Finance and Economics, Chengdu 611130, China;2. School of Economic Mathematics, Southwestern University of Finance and Economics, Chengdu 611130, China;3. Department of Mathematics, Imperial College, London SW7 2BZ, UK;1. Universidad Pontificia Comillas, ICADE. c/ Alberto Aguilera 23, 28015 Madrid, Spain;2. Department of Economics, Universidad Carlos III de Madrid. Calle Madrid, 126, Getafe, E-28903 Madrid, Spain;1. Applied Analysis Research Group, Faculty of Mathematics and Statistics, Ton Duc Thang University, Ho Chi Minh City, Vietnam;2. Department of Applied Mathematics, University of New South Wales, Sydney 2052, Australia;1. Instituto de Matemática y Ciencias Afines, Lima, Peru;2. Instituto de Telecomunicações and CIDMA, Universidade de Aveiro, Aveiro, Portugal;3. Laboratoire Informatique d’Avignon, Avignon Université, Avignon,France;1. Department of Logistics Management, School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China;2. Department of Logistics and Maritime Studies, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong Special Administrative Region |
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| Abstract: | Returns-to-scale (RTS) characterizations and the underlying notion of scale elasticity are important characteristics of production frontiers, in both parametric and nonparametric methodologies of efficiency and productivity analysis. In practical applications of these methodologies, the model of technology is often experimented with and modified before it is finalized, which involves, for example, a change of the data set, incorporation, exclusion or aggregation of inputs and outputs, or experimentation with the production assumptions, or axioms, on which the model is based. While it is well-known how such modifications of technology affect the efficiency scores, their effect on the RTS characterization of the production frontier has not been sufficiently explored in the literature. In this paper we obtain several general results that clarify this issue. |
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