Journal
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
Volume 93, Issue 3, Pages 752-763Publisher
OXFORD UNIV PRESS INC
DOI: 10.1093/ajae/aaq175
Keywords
dynamic efficiency; duality; dairy sector; D21; D24; D61; D92
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Funding
- European Commission [044283]
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This research proposes a parametric estimation of the structural dynamic efficiency measures proposed in 2009 by Silva and Oude Lansink. Overall, technical and allocative efficiency measurements are derived based on a directional distance function and the duality between this function and the optimal value function. The applicability of the parametric proposal is illustrated by assessing dynamic efficiency ratings for a sample of Dutch dairy farms observed from 1995 to 2005. Dynamic efficiency ratings indicate the possibility to achieve long-run cost savings on the order of 12% that are mainly to be accomplished through a reduction in input use.
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