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The Lerner Index and Economic Efficiency

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http://www.scirp.org/journal/PaperInformation.aspx?PaperID=52091#.VIVBvWfHRK0

This short paper brings together two literatures: the first is the Lerner Index as a measure of imperfect competition familiar from industrial organization and the second is a measure of performance from the efficiency literature, namely the Nerlovian indicator. We show how these may be related and the resulting decomposition of the Lerner index which results.
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Chambers, R. , Färe, R. and Grosskopf, S. (2014) The Lerner Index and Economic Efficiency. Theoretical Economics Letters, 4, 803-805. doi: 10.4236/tel.2014.49101. 
 

[1] Farrell, M.J. (1957) The Measurement of Productive Efficiency. Journal of the Royal Statistical Society Series A, General, 120, 253-281. http://dx.doi.org/10.2307/2343100
[2] Georgescu-Roegen, N. (1951) The Aggregate Linear Production Function and Its Application to the Von Neumann Economic Model. In: Koopmans, T., Ed., Activity Analysis of Production and Allocation, Wiley, New York.
[3] Lerner, A.P. (1934) The Concept of Monopoly and the Measurement of Monopoly Power. The Review of Economic Studies, 1, 157-175. http://dx.doi.org/10.2307/2967480
[4] Samuelson, P.A. (1964) A.P. Lerner at Sixty. The Review of Economic Studies, 31, 169-178.
http://dx.doi.org/10.2307/2295906
[5] Chambers, R.G., Chung, Y. and Färe, R. (1998) Profit, Directional Distance Functions, and Nerlovian Efficiency. Journal of Optimization Theory and Applications, 98, 351-364.
http://dx.doi.org/10.1023/A:1022637501082
[6] Luenberger, D.G. (1992) New Optimality Principles for Economic Efficiency and Equilibrium. Journal of Optimization Theory and Applications, 75, 221-264. http://dx.doi.org/10.1007/BF00941466                 eww141208lx
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