Measurement of dynamic efficiency, a directional distance function parametric approach
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This research proposes a parametric estimation of the structural dynamic efficiency measures proposed by Silva and Oude Lansink (2009). Overall, technical and allocative efficiency measurements are derived based on a directional distance function and the duality between this function and the optimal value function. The applicability of the parametric proposal is illustrated by assessing dynamic efficiency ratings for a sample of Dutch dairy farms observed from 1995 to 2005.