9781332261864 - fuzzy frontiers of production: evidence of persistent inefficiency, in safety expenditures (classic reprint) de ichniowski, casey (4 resultados)
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Paperback. Condición: New. Print on Demand. This study of 11 paper mills seeks to provide a more accurate representation of firm productivity by challenging a long-standing framework that has suggested that firms operate at optimal levels of efficiency or on the production frontier. The author employs microeconomic data, detaile…d models of the paper production process, and various frameworks to illustrate that in fact firms operate with varying degrees of persistent inefficiency, referred to as the 'fuzzy production frontier.' The study posits that this is due to a number of factors, including the randomness of accidents and the information gained from them. In contrast to the conventional economic view that accidents are a joint product, the author demonstrates that although safety expenditures can reduce accidents, it does not guarantee a fixed accident rate, and the variation in the accident rate can significantly impact production. The elaborations on the production frontier framework presented in this book provide a more realistic representation of the complex decisions that managers face in the day-to-day operation of their firms and the challenges they encounter in achieving optimal efficiency. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
