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| Registros recuperados: 19 | |
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| Antle, Rick; Bogetoft, Peter; Stark, Andrew W.. |
| The purpose of this paper is to study the effects of introducing information systems into a model featuring managerial incentive problems and investment opportunities that are mutually exclusive over time. In a principal-agent model in which a manager (agent) has superior information about investment costs, we introduce information systems, the signals from which are available to both the manager and the owner of the investment opportunity, which allow the owner to decrease the manager's informational advantage. We examine (i) the characteristics of the optimal information systems; (ii) the effects of such information systems on the owner's investment and compensation choices and on the value of the investment opportunity to the owner; (iii) the effects... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
| Ano: 2000 |
URL: http://purl.umn.edu/24201 |
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| Bogetoft, Peter; Wang, Dexiang. |
| We introduce simple non-parametric models to estimate the potential gains from merging production units. Three effects are distinguished. A merger may affect technical efficiency. It also affects the size of the operation which may or may not be advantageous depending on the return to scale properties of the underlying technologies. Lastly, it affects the mix of inputs available and the mix of outputs demanded. A merged unit face more "balanced" or "harmonic" input and output profiles which is typically advantageous. We use the model to estimate the potential gains from merging agricultural extension offices in Denmark. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Teaching/Communication/Extension/Profession. |
| Ano: 1999 |
URL: http://purl.umn.edu/24207 |
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| Bogetoft, Peter; Olesen, Henrik Ballebye. |
| Modern agricultural marketing cooperatives must implement farm-level differentiation to meet requirements from high-quality market segments, e.g. consumers focusing on animal welfare. This makes the cooperatives internally heterogeneous and increases the influence costs. In particular, the marketing of specialty, high-quality products is a controversial issue for cooperatives, because different producer groups have different interests. The standard producers, who normally hold the majority vote in the cooperatives, are reluctant to promote the sale of specialty products and hereby reduce the bargaining power of the specialty producers. We explore these arguments in a formal model. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/22190 |
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| Agrell, Per J.; Bogetoft, Peter. |
| A major challenge to legislators, insurance providers and municipalities will be how to manage the reimbursement of health-care on partially open markets under increasing fiscal pressure and an aging population. Although efficiency theoretically can be obtained by private solutions using fixed-payment schemes, the informational rents and production distortions may limit their implementation. The healthcare agency problem is characterized by (i) a complex multi-input multi-output technology, (ii) information uncertainty and asymmetry, and (iii) fuzzy social preferences. First, the technology, inherently nonlinear and with externalities between factors, yield parametric estimation difficult. However, the flexible production structure in Data Envelopment... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Data Envelopment Analysis; Regulation; Health care systems; Efficiency; Health Economics and Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/24182 |
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| Agrell, Per J.; Bogetoft, Peter; Tind, Jorgen. |
| This article discusses models in data envelopment analysis (DEA) relaxing the standard convexity assumptions. The basic model treats mutually incomparable pairs of sets to be generated by a procedure proposed earlier. Each pair consists of a consumption set and a production set of feasible input-output combinations. Two fundamental operations by the procedure are based on intersection and convex hull generation in the input-output space. A polarity analysis is performed which, subject to the usual assumptions about free disposability and nonnegativity, appears fruitful to do in the framework of blocking and antiblocking sets. It is shown how this leads to an interchange of the above operations extending some classical results from convex analysis. The last... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Data Envelopment Analysis; Polarity; Research Methods/ Statistical Methods. |
| Ano: 2000 |
URL: http://purl.umn.edu/24188 |
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| Bogetoft, Peter; Nielsen, Kurt. |
| This paper discuss the design of multidimensional yardstick based procurement auction. The suggested design combines Data Envelopment Analysis (DEA) based yardstick schemes with the multidimensional score auction. The principal select a single winner to perform a project, characterized by a multidimensional vector. The design is especially useful when there are uncertainty about the underlying common cost structure as well as the principal's valuation function. Potential applications in natural resource management is provided. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2003 |
URL: http://purl.umn.edu/25910 |
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| Agrell, Per J.; Bogetoft, Peter. |
| Effective economic regulation demands clear objectives, sound economic reasoning and a careful analysis of the inevitable trade-offs between conflicting societal interests. The key problems are linked to the information asymmetry between the regulator and the regulated firms. Although the market principle may provide some useful guidelines, the problems of bankruptcy and windfall profits remain to be addressed. In this overview, we discuss how modern yardstick regimes in combination with franchise auctions provide powerful solutions that may contribute to both societal and industry demands. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/24216 |
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| Bogetoft, Peter; Wang, Dexiang. |
| We introduce simple production economic models to estimate the potential gains from mergers. We decompose the gains into technical efficiency, size (scale) and harmony (mix) gains, and we discuss alternative ways to capture these gains. We propose to approximate the production processes using the non-parametric Data Envelopment Analysis (DEA) approach, and we use the resulting operational approach to estimate the potential gains from merging agricultural extension offices in Denmark. Contents: 1. Introduction, 2. Literature, 3. Production Models, 4. Measures of Merger Gains, 5. Decomposing Merger Gains, 6. Alternative Decompositions, 7. The Danish Agricultural Extension Services, 8. Final Remarks, References. Key Words: Data Envelopment Analysis,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Data Envelopment Analysis; Management; Organization; Mergers; Teaching/Communication/Extension/Profession. |
| Ano: 2003 |
URL: http://purl.umn.edu/24213 |
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| Bogetoft, Peter; Strange, Niels; Thorsen, Bo Jellesmark. |
| In Denmark, many small-scale forest owners are affiliated to local district offices of The Danish Forestry Extension Service. Increasing economic pressure has caused a search for more efficiency in the Service, including potential reorganisation. In this paper, the efficiency of the different offices is evaluated using Data Envelopment Analysis (DEA) to approximate their production technology. Furthermore, recent theoretical developments in DEA-analysis are used to assess the gains from a number of potential mergers, and to decompose these gains into those from technological improvements, harmony effects and scale effects. It is found that technological inefficiency is the major source of inefficiency, mergers are only favoured through harmony gains,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Data Envelopment Analysis (DEA); Efficiency; Reorganisation; Teaching/Communication/Extension/Profession. |
| Ano: 2001 |
URL: http://purl.umn.edu/24210 |
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| Antle, Rick; Bogetoft, Peter; Stark, Andrew W.. |
| We characterize optimal investment and compensation strategies in a model of an investment opportunity with managerial incentive problems, caused by asymmetric information over investment costs and the manager's desire to consume slack, and flexibility over the timing of its acceptance. The flexibility over timing consists of the opportunity to invest immediately, delay investment for one period, or not invest at all. The timing option provides an opportunity to invest when circumstances are most favorable. However, the timing option also gives the manager an incentive to influence the timing of the investment to circumstances in which he gets more slack. Under the assumption that investment costs are distributed independently over time, the optimal... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
| Ano: 2001 |
URL: http://purl.umn.edu/24192 |
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| Registros recuperados: 19 | |
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