New Efficiency Theory Boosts Productivity and Competition Across Industries!
The article discusses a new theory on economic efficiency and its applications, focusing on factors like learning by doing, technology, and competition. It introduces Data Envelopment Analysis (DEA) as a method to measure cost-oriented efficiency in industries. The study explores how efficiency is affected by factors like sales growth, technical changes, and uncertainty. It also looks at the impact of input sharing and group efficiency in industries. The researchers highlight the importance of modeling and data accuracy in analyzing efficiency.