000061639 001__ 61639
000061639 005__ 20180122212758.0
000061639 037__ $$a320-2016-10483
000061639 041__ $$aen
000061639 245__ $$aEconomic Efficiency of Ethanol Plants in the US North Central Region
000061639 260__ $$c2010
000061639 269__ $$a2010
000061639 270__ $$mjuampase@hotmail.com$$pSesmero,   Juan P.
000061639 300__ $$a30
000061639 336__ $$aConference Paper/ Presentation
000061639 490__ $$aSelected Paper
000061639 490__ $$a10979
000061639 520__ $$aIn this study we use data envelopment analysis to decompose the overall economic
efficiency of a sample of ethanol plants into three subcomponents: technical efficiency, allocative efficiency and a new component we call marketing efficiency. The relative importance of these sources of efficiency is of particular interest given the recent history of bankruptcies, plant closings and ownership change in the industry. Results reveal that observed production units are very efficient from a technical point of view as suggested by a standard deviation of 1% in technical efficiency. However, our results also show that bigger plants tend to be more economically efficient than others. The conventional methodology would have identified this difference as coming from
allocative sources, i.e. bigger plants were correct in anticipating better relative prices and built more capacity accordingly. However introduction of a new concept we call
marketing efficiency reveals that bigger production units obtain better relative prices (through marketing contracts) than smaller production units rather than anticipating prices more accurately. This might be a potential reason underlying the recent wave of mergers and acquisitions in the industry.
000061639 542__ $$fLicense granted by Julia Kelly (jkelly@umn.edu) on 2010-05-04T21:39:59Z (GMT):

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000061639 650__ $$aResource /Energy Economics and Policy
000061639 6531_ $$aethanol
000061639 6531_ $$adata envelopment analysis
000061639 6531_ $$aefficiency decomposition
000061639 6531_ $$amarketing
000061639 700__ $$aSesmero, Juan P.
000061639 700__ $$aPerrin, Richard K.
000061639 700__ $$aFulginiti, Lilyan E.
000061639 8564_ $$s259074$$uhttp://ageconsearch.umn.edu/record/61639/files/jxHeRPGj.pdf
000061639 887__ $$ahttp://purl.umn.edu/61639
000061639 909CO $$ooai:ageconsearch.umn.edu:61639$$pGLOBAL_SET
000061639 912__ $$nSubmitted by Julia Kelly (jkelly@umn.edu) on 2010-05-04T21:46:35Z
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  Previous issue date: 2010
000061639 982__ $$gAgricultural and Applied Economics Association>2010 Annual Meeting, July 25-27, 2010, Denver, Colorado
000061639 980__ $$a320