Subal C. Kumbhakar

Pami Dua

Subhash C. Ray

This book provides a detailed introduction to the theoretical and methodological foundations of production efficiency analysis using benchmarking. Two of the more popular methods of efficiency evaluation are Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA), both of which are based on the concept of a production possibility set and its frontier. Depending on the assumed objectives of the decision-making unit, a Production, Cost, or Profit Frontier is constructed from observed data on input and output quantities and prices. While SFA uses different maximum likelihood estimation techniques to estimate a parametric frontier, DEA relies on mathematical programming to create a nonparametric frontier. Yet another alternative is the Convex Nonparametric Frontier, which is based on the assumed convexity of the production possibility set and creates a piecewise linear frontier consisting of a number of tangent hyper planes. Three of the papers in this volume provide a detailed and relatively easy to follow exposition of the underlying theory from neoclassical production economics and offer step-by-step instructions on the appropriate model to apply in different contexts and how to implement them. Of particular appeal are the instructions on (i) how to write the codes for different SFA models on STATA, (ii) how to write a VBA Macro for repetitive solution of the DEA problem for each production unit on Excel Solver, and (iii) how to write the codes for the Nonparametric Convex Frontier estimation. The three other papers in the volume are primarily theoretical and will be of interest to PhD students and researchers hoping to make methodological and conceptual contributions to the field of nonparametric efficiency analysis.

A Production Frontier Approach

Benchmarking for Performance Evaluation

Vishal Sahni

Prem Saran Satsangi

Stuart Hameroff

This unique volume brings together eastern and western perspectives on consciousness with essays from philosophers and scientists which emphasize different aspects of the integration. The overarching aim of this book is to provide direction toward integrating Eastern philosophical and religious practice with philosophies and science of Western culture, an aim that could be pivotal in understanding consciousness and its place in nature. A unifying approach is adopted to the study of consciousness, integrating the wisdom of the sages of the east, and the scientists of the west and the stupendous east-west integration that has been achieved is indeed a milestone. The book will appeal to the rapidly growing mass of scientists and students in this upcoming field, both in the east and west, as well as the general inquisitive reader. Courses in consciousness studies are being promoted in leading Universities all over the world. It will also interest the followers and adherents of Eastern Philosophy of Saints and Radhasoami Faith numbering in a few millions around the globe.

Integrating Eastern and Western Perspectives

Consciousness

Rajiv Ranjan

This book provides a comprehensive analysis of the foreign exchange market in India in terms of participants, instruments and the trading platform, as also turnover and forward premia. It examines the role of exchange rates in the recent global financial crisis, and also develops an alternative forecasting model for the rupee-dollar exchange rate.

Exchange Rate Policy and Modelling in India

Pami Dua

Books

Your next favorite book is out there