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Scientific Programme

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Plenary Sessions and Speakers



Peter Bogetoft: New insights into contract design based on DEA and SFA

Peter Bogetoft

State-of-the-art benchmarking methods like mathematical programming based Data Envelopment Analysis (DEA) and econometrically based Stochastic Frontier Analysis (SFA) use data from several agents to construct models of best practices. An agent's costs in excess of best practice costs can be thought of as a measure of slack.

In this paper, we show how different best practice slack measures react to changes in an agent's behavior. This is important to understand when benchmarking based incentive contracts are designed. The optimal design must take into account the responsiveness of the slack measure to changing behavior. Only in this way can the optimal incentive power be determined.

Many countries regulate natural monopolies like water, gas and electricity networks by capping the allowed revenue they can charge consumers via service tariffs. The revenue cap is often a function of the estimated DEA and SFA slack measures. Our findings show that an optimal revenue cap regulation depends intimately on the benchmarking method applied. It might therefore be necessary to rethink some of the existing regulations.

Peter Bogetoft
holds a MSc degree in mathematical economics and a DrMerc degree in managerial economics. He is a professor in applied microeconomics at Copenhagen Business School and was previous professor in managerial economics at Royal Veterinary and Agricultural University and Copenhagen University. In addition, he has been a visiting professor at Yale School of Management in several periods. Peter Bogetoft has published around 100 scientific articles and 7 books and have made important contributions to a wide variety of areas, including planning, accounting, political economics, mechanism design, decision theory, industrial organization, cooperatives, contracting and software development. His research ranges from pure theory, over empirical testing of theory, to normative applications. Peter has been involved in a series of projects with industry and governmental bodies in many countries on the application of theories, in particular with respect to contract design, transfer pricing, auction design, regulation and benchmarking. Peter has also been a founding father of several research spin-offs, including ibensoft.com developing interactive benchmarking software and partisia.com combining encrypted calculations with economic mechanism design.

 


  

Victor Podinovski: Modelling VRS and CRS production technologies with component processes

Victor PodinovskiIn many applications, the production technology can be regarded as a combination of several production processes running in parallel, even if these are not perfectly separate. Each process is characterised by a set of specific (dedicated) inputs and outputs. There are also shared inputs and outputs whose allocation to the individual processes is assumed unknown. This talk discusses how such technologies can be modelled without making any assumptions about the allocation mechanism for the shared inputs and outputs. This leads to a new axiomatic foundation for multi-component VRS and CRS technologies. An application in the education context illustrates the potential of this methodology. It shows that just the information that there are several processes, if properly modelled, may lead to better efficiency discrimination, compared to the standard VRS and CRS models.

Victor Podinovski is Professor of Operational Research at School of Business and Economics of Loughborough University, UK. His research is focused on different topics of data envelopment analysis and production theory. This includes the modelling of technologies under different production assumptions, incorporation of additional information in such models, handling different types of data, and developing axiomatic foundations of such approaches. Victor is a co-editor of Journal of Productivity Analysis and co-director of the Centre for Performance and Productivity Analysis at Loughborough University.


  

Session in honor of Shawna Grosskopf and Rolf Färe

Victor Podinovski

 

 

 

 

 

 

 

  

Victor Podinovski

Rolf Färe is Professor Emeritus of Economics, and Agricultural and Resource Economics at Oregon State University and Adjunct Professor at University of Maryland. Like some other Europeans of his generation he never earned a standard PhD degree but earned a Filosofie Licentiat degree and eventually a Docent in Economics from Lund University under Professor Björn Thalberg. He left Lund to work with Professor Ronald W. Shephard for two years at U.C. Berkeley. The two years spent in Berkeley were hard work and difficult, but not as difficult as the year spent doing mandatory military service at the Defense Research Institute in Stockholm. Rolf Färe’s research is rooted in the areas of production and duality theory and is documented in 12 books, over 200 refereed journal articles, and more than 50 contributions to books. He is an ISI most highly cited scholar in the area of economics and finance.

 

Victor PodinovskiShawna Grosskopf is Professor Emerita of Economics at Oregon State University and adjunct professor at CERE in Umea, Sweden. She received her PhD in 1977 from Syracuse University in state and local public sector economics, which has informed much of her applied work. With her husband, Rolf Fare, she spent summers for a number of years at the Swedish Institute of Health Economics working in the areas of efficiency and productivity measurement, both theoretical and applied. In 1996 she received the Kersten Hesselgren award in honor of the first woman in the Swedish parliament; later receiving an honorary doctorate from University of Gothenburg in 2000. Thanks to her many coauthors she has published 10 books, and more than 200 refereed journal articles, and over 45 contributions to books. Her research topics extend to education, health and environmental performance. She has served as Associate Editor for Journal of Productivity Analysis since 1986 and is on the Editorial Board of Health Care Management Science. She is listed in Who’s Who in Economics and is an ISI most highly cited scholar in economics and finance.

 


 

 

 

 

 

 

 

 

 

 

 

 

 

Organization

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