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Surplus measures and luenberger Hicks–Moorsteen productivity indicator

Abstract : This paper extends to production theory some notions of compensated and equivalent variation analyzed in Luenberger (Econ Theory 7:445-462, 1996) in a consumer context. Along this line the Luenberger-Hicks-Moorsteen productivity indicator introduced in Briec and Kerstens (Econ Theory 23:925-939, 2004) is derived from these concepts for multi-output production technologies. The dual properties of this productivity indicator are analyzed and an aggregate indicator is introduced inspired from the resource function proposed in Luenberger (1996). A connection to a suitable Slutsky matrix is established.
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Contributor : Arnaud Abad <>
Submitted on : Thursday, November 26, 2020 - 11:47:46 AM
Last modification on : Friday, November 27, 2020 - 3:29:31 AM



Arnaud Abad, Rabaozafy Louisa Andriamasy, Walter Briec. Surplus measures and luenberger Hicks–Moorsteen productivity indicator. Journal of Economics, Springer Verlag, 2018, 125 (3), pp.279-308. ⟨10.1007/s00712-018-0611-7⟩. ⟨hal-03025392⟩