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| Author: | Kalita, J. |
| Title: | Measuring product market efficiency: a new methodology |
| Journal: | Marketing Letters
1994 : JAN, VOL. 5:1, p. 77-89 |
| Index terms: | MARKET EFFICIENCY MEASUREMENT METHODOLOGY |
| Language: | eng |
| Abstract: | This paper proposes a new methodology to measure efficiency. The author's approach is based on the economic theory of product market equilibrium where consumers have incomplete information, and it allows quality to be multidimensional. The author illustrates the methodology and compare it with other methodologies including the data envelopment analysis (DEA) - based procedure of Kamakura, Ratchford, and Agrawal (1988). The empirical results show that the model is robust to the precise distributional form of the disturbance term. |
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