Measurement of productivity changes by bootstrapping malmquist in combined cycle power plants

Abstract

Measuring the value of power generations productivity is one of the most important subjects associated with their efficiency. In this research, Malmquist index has been exploited for acquiring the productivity value of all combined cycle power generations in Iran between the years 2006 and 2012. Firstly, Malmquist index has been decomposed to four components namely as Efficiency changes, Technology changes, Pure efficiency changes and Scale efficiency changes. Then, bootstrap procedure is exploited for creating a sustainable estimation. The results illustrate that Malmquist index has decreased during the period of investigation. Furthermore, Malmquist index has been as a function of technology changes. In addition, efficiency changes have shown significant stability.