The Dual Production Frontiers: A New Preliminary Framework for Productivity Research

DOI

10.2991/aebmr.k.200306.038How to use a DOI?

Keywords

total factor productivity, dual production frontier, quantity-price joint space

Abstract

The mainstream measurement framework for total factor productivity is the original production function defined in the “quantity” space, which often leads to the lack of measurement of allocation efficiency and distortion of other factors. Based on production theory, this paper incorporates the price factors of input and output, uses duality theory to derive the concept of dual production function, and constructs a dual production frontier to explore a feasible new paradigm for productivity research. In contrast, the new framework can clarify the impact of market price changes on production decisions, accurately measure allocation efficiency, and other factors that cause productivity changes, extend the measurement of total factor productivity to the “quantity-price” joint space.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Zhenbai Feng
PY  - 2020
DA  - 2020/03/11
TI  - The Dual Production Frontiers: A New Preliminary Framework for Productivity Research
BT  - Proceedings of the 5th International Conference on Financial Innovation and Economic Development (ICFIED 2020)
PB  - Atlantis Press
SP  - 216
EP  - 221
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200306.038
DO  - 10.2991/aebmr.k.200306.038
ID  - Feng2020
ER  -