Identification of Segments of Thermo Energy Plants with a Latent Class Model

This paper identifies different groups in a cost function framework of thermo energy plants belonging to EDP-Electricity of Portugal. In particular, we have clustered the sample - comprising data for years 1987 to 2006 - into two groups. To do so, we have implemented a stochastic frontier latent class model, a procedure that also permits us to analyze also the efficiency of the thermo energy plants with respect to their own frontiers. The results reveal that some of the plants could improve their efficiency levels substantially.cost efficiency; latent class model; thermo energy plants; stochastic frontier.

The Technical Efficiency of UK Airports

In this paper, the innovative random stochastic frontier model is used to estimate the technical efficiency of UK airports. These airports are ranked according to their total productivity for the period 2000-2005 and homogenous and heterogeneous variables in the cost function are disentangled, which leads us to advise the implementation of common policies as well as policies by segments. Economic implications arising from the study are also considered.Airports; UK; efficiency; random frontier models; policy implications.

Identification of Segments of Thermo Energy Plants with a Latent Class Model

This paper identifies different groups in a cost function framework of thermo energy plants belonging to EDP-Electricity of Portugal. In particular, we have clustered the sample - comprising data for years 1987 to 2006 - into two groups. To do so, we have implemented a stochastic frontier latent class model, a procedure that also permits us to analyze also the efficiency of the thermo energy plants with respect to their own frontiers. The results reveal that some of the plants could improve their efficiency levels substantially.cost efficiency; latent class model; thermo energy plants; stochastic frontier.

Choice Valuation of Traffic Restrictions: Perspectives on Noise, Pollution and Congestion Preferences

This paper focuses on the choice valuation of traffic restrictions while entering Lisbon city based on individual preferences for noise, pollution and congestion. The analysis employs a questionnaire distributed in 2007 to ascertain the significant characteristics of traveling to Lisbon, with the aim of curbing the number of cars that enter the city daily. A random parameter logit model is used to analyze the characteristics (e.g. individual characteristics, motivations, type of transport used) that are associated with the probability of individuals supporting a fee on private cars entering the city. The model also takes into account the uncontrolled heterogeneity of the data. Some policy implications are also presented.Transportation; Lisbon; Mixed Logit Model; Public Policy.

A Comparative Analysis of Productivity Change in Italian and Portuguese Airports

In this paper, we analyze efficiency and productivity of Italian and Portuguese airports, by using the directional distance function and the Luenberger productivity indicator. The key advantage of this approach is that both input contraction and output expansion are considered. The model generates efficiency scores, ranking the airports in the sample. We conclude that inputs and outputs play a major role in airports efficiency. According to this methodology, it can be stated that some Italian and Portuguese airports are efficient and that productivity increased in most of the cases.Italian and Portuguese airports; Luenberger productivity indicator.

Productivity Drivers in Japanese Seaports

This paper analyses efficiency drivers of a representative sample of Japanese seaports by means of the two-stage procedure proposed by Simar and Wilson (2007). In the first stage, the technical efficiency of seaports is estimated using several models of data envelopment analysis (DEA) that might be employed in order to establish which of them are most efficient. In the second stage, the Simar and Wilson (2007) procedure is used to bootstrap the DEA scores with a truncated bootstrapped regression to identify efficiency drivers. The policy implications of our findings are considered.Seaports; Japan; Data Envelopment Analysis; Truncated Bootstrapped Regression.

Productivity Change of UK Airports: 2000-2005

In this paper, the two innovative nonparametric models, the Luenberger productivity model and Luenberger–Hicks–Moorsteen productivity indicator are used to estimate the productivity of UK airports. These airports are ranked according to their total productivity for the period 2000- 2005 showing that the majority of UK airports are not improving their efficiency in the period. Economic implications arising from the study are derived.productivity measurements; UK airports; data envelopment analysis; Luenberger productivity indicator and Luenberger–Hicks–Moorsteen productivity indicator.

Survival Analysis in Tourism Demand: The length of stay in Latin American destinations

This article analyses the determinants of the length of stay of Portuguese tourists taking vacations in Latin America, based on a questionnaire distributed on flights of a Portuguese charter airline, Air Luxor. A survival model is adopted to measure the relationship between vacation length and covariates. It is concluded that the most affluent tourists, who are motivated by culture, climate and security, will have the longest stays. The policy implication is derived.duration models; heterogeneity; tourism; Latin America.

Technical Efficiency and Heterogeneity of Argentina Pension Funds

This paper examines the technical efficiency of Argentinean pension funds management companies using a random stochastic frontier model to rank the pension funds management companies, taking into account heterogeneity in the data. The empirical findings reveal that efficiency measures have a significant effect on pension funds efficiency. The implications for managers and policy makers are discussed.Argentina; pension funds; efficiency; stochastic frontier models.

Technical Efficiency of Nigerian Insurance Companies

This paper uses data envelopment analysis (DEA) to evaluate the performance of Nigerian insurance companies, from 2001 to 2005, combining operational and financial variables. The paper also analyses the situations of these companies in relation to the frontier of best practices. In addition, it tests for the roles played by dimension, bank network and market share in the efficiency of the Nigerian insurance companies. The implications of this research for managerial purposes are then drawn.Nigerian insurance companies; Data Envelopment Analysis; Efficiency.