Abstract
The term efficiency is widely used in economics to describe an optimal allocation of resources and is promoted as one logical economic goal for individuals, firms, and societies. In the simplest sense, efficiency means making the most out of what you have—minimizing waste of scarce resources. In this chapter we describe how one might go about thinking of both technical and economic, or productive, efficiency in a theoretical framework, as well as provide an overview of empirical techniques used to estimate productive efficiency levels of individual firms. The technical efficiency of southern U.S. logging firms is examined as a case study.
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Carter, D.R., Siry, J.P. (2003). Timber Production Efficiency Analysis. In: Sills, E.O., Abt, K.L. (eds) Forests in a Market Economy. Forestry Sciences, vol 72. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-0219-5_7
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DOI: https://doi.org/10.1007/978-94-017-0219-5_7
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