Economic Policy

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By Kurt Dopfer

This publication specializes in the rising box of evolutionary financial coverage, highlighting the interface among the nation, markets, and the evolutionary complexity of contemporary economies. The members discover the chances and boundaries of governance, and supply a distinct platform for the development of contemporary evolutionary fiscal conception.

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I have done this elsewhere4. The important point is the logical coherence between positive neoclassical theory and neoclassical welfare economics. This coherence is the main reason that economics in the form of neoclassical economics has become the ‘Queen of the Social Sciences’, that economics has become the valued consultant of politics. If evolutionary economics wants to compete in earnest with neoclassical economics then it needs a comparable coherence between its positive statements and its normative statements.

For the efficient observation l (with ␪l ϭ1), we obtain 1 for the lth element of ␭l and 0 for all other elements. Grouping all observations according to their respective reference observations allows one to detect regions of similarity. These regions are distinguished by different input intensities, output intensities or input coefficients. 1a, for observation C the reference observations are A and B. B Consequently only ␭A C and ␭C are different from 0. The respective values state the degree to which A and B are respectively used to construct CЈ.

For this purpose we suggest a non-parametric frontier function approach. Unrestricted performance measure The non-parametric frontier function approach (or DEA for data envelopment analysis) basically relies on index numbers to measure total factor productivity in a fashion similar to the one used in more standard productivity analysis. In a sample of n observations for each observation j (j ϭ 1, . 1) Here Yj is a s-vector of outputs (r ϭ 1, . , s) and Xj a m-vector of inputs (i ϭ 1, . , m) of observation j.

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