报告题目：Cost Metafrontiers are Nonconvex in the Outputs since the Metafrontier is Nonconvex: The Price of a Convexification Strategy

报告所属学科：应用经济学

报告人：Kristiaan KERSTENS（IESEG管理学院）

报告时间：2022年12月21日 17:00-21:00

报告地点：腾讯会议: 916-647-052

报告摘要：

Metafrontier analysis is widely used to account for technological heterogeneity among producers. The approach involves combining a number of group-specific production possibilities sets to form a production possibilities metaset. Even though the union of the group sets normally results in a nonconvex metaset, most authors proceed as if the metaset is convex. Kerstens, O'Donnell and Van de Woestyne (2019) obtain new results on the union operator on sets under various assumptions. They then use a production context to empirically illustrate that the popular convexification strategy is highly questionable. In this paper we transpose their results on the union operator from a production context to a cost context: this is new. We then explore the extent to which a convexification strategy is tenable when estimating a cost metafrontier. We use a secondary data set to illustrate the main issues. We establish that the convexification strategy leads to potentially-biased estimates of the cost metafrontier and associated measures of efficiency.

报告人简介：

Kristiaan KERSTENS is the Director of research (research professor) at the French National Centre for Scientific Research (Centre National de la Recherche Scientifique, CNRS), and also a Professor of Economics at IESEG School of Management. His research focuses on efficiency measurement (benchmarking) of private and public sector organizations, productivity indices and indicators, and portfolio optimization with higher moments. His work has been published in leading international journals, including Operations Research, Management Science, European Journal of Operational Research, Economic Theory, American Journal of Agricultural Economics, Journal of Economic Dynamics and Control, Journal of Banking and Finance, etc. He also serves as the Associate Editor for several international refereed journals including Journal of Productivity Analysis.