Identifying technically efficient fishing vessels: a non-empty, minimal subset approach
Stochastic frontier models are often employed to estimate fishing vessel technical efficiency. Under certain assumptions, these models yield efficiency measures that are means of truncated normal distributions. We argue that these measures are flawed, and use the results of Horrace (2005) to estimat...
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ftrepec:oai:RePEc:jae:japmet:v:22:y:2007:i:4:p:729-745 2024-04-14T08:16:27+00:00 Identifying technically efficient fishing vessels: a non-empty, minimal subset approach Alfonso Flores-Lagunes William C. Horrace Kurt E. Schnier http://hdl.handle.net/10.1002/jae.942 http://qed.econ.queensu.ca:80/jae/2007-v22.4/ unknown http://hdl.handle.net/10.1002/jae.942 http://qed.econ.queensu.ca:80/jae/2007-v22.4/ article ftrepec 2024-03-19T10:35:39Z Stochastic frontier models are often employed to estimate fishing vessel technical efficiency. Under certain assumptions, these models yield efficiency measures that are means of truncated normal distributions. We argue that these measures are flawed, and use the results of Horrace (2005) to estimate efficiency for 39 vessels in the Northeast Atlantic herring fleet, based on each vessel's probability of being efficient. We develop a subset selection technique to identify groups of efficient vessels at pre-specified probability levels. When homogeneous production is assumed, inferential inconsistencies exist between our methods and the methods of ranking the means of the technical inefficiency distributions for each vessel. When production is allowed to be heterogeneous, these inconsistencies are mitigated. Copyright © 2007 John Wiley & Sons, Ltd. Article in Journal/Newspaper Northeast Atlantic RePEc (Research Papers in Economics) |
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RePEc (Research Papers in Economics) |
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description |
Stochastic frontier models are often employed to estimate fishing vessel technical efficiency. Under certain assumptions, these models yield efficiency measures that are means of truncated normal distributions. We argue that these measures are flawed, and use the results of Horrace (2005) to estimate efficiency for 39 vessels in the Northeast Atlantic herring fleet, based on each vessel's probability of being efficient. We develop a subset selection technique to identify groups of efficient vessels at pre-specified probability levels. When homogeneous production is assumed, inferential inconsistencies exist between our methods and the methods of ranking the means of the technical inefficiency distributions for each vessel. When production is allowed to be heterogeneous, these inconsistencies are mitigated. Copyright © 2007 John Wiley & Sons, Ltd. |
format |
Article in Journal/Newspaper |
author |
Alfonso Flores-Lagunes William C. Horrace Kurt E. Schnier |
spellingShingle |
Alfonso Flores-Lagunes William C. Horrace Kurt E. Schnier Identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
author_facet |
Alfonso Flores-Lagunes William C. Horrace Kurt E. Schnier |
author_sort |
Alfonso Flores-Lagunes |
title |
Identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
title_short |
Identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
title_full |
Identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
title_fullStr |
Identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
title_full_unstemmed |
Identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
title_sort |
identifying technically efficient fishing vessels: a non-empty, minimal subset approach |
url |
http://hdl.handle.net/10.1002/jae.942 http://qed.econ.queensu.ca:80/jae/2007-v22.4/ |
genre |
Northeast Atlantic |
genre_facet |
Northeast Atlantic |
op_relation |
http://hdl.handle.net/10.1002/jae.942 http://qed.econ.queensu.ca:80/jae/2007-v22.4/ |
_version_ |
1796315125180792832 |