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About X - Efficiency Theory
Harvey Leibenstein initially applied conventional economic theory to problems faced by less developed economies. However, in his 1968 and 1978 works, he applied his theory of X-efficiency to development economics. His theory posited imperfect markets, incomplete production functions, discretionary worker effort, rationality as a continuum, and an "inert area" of effort. By applying X-efficiency, Leibenstein reformulated microeconomics and provided a broader theory for analyzing development problems. His work brought behavioral economics concepts to development studies but at times confused economic growth with overall development.
Detailed Information
| Author: | ['sanyog.garg7386'] |
|---|---|
| Publication Year: | 2011 |
| Pages: | 20 |
| Language: | English |
| Format: | |
| Price: | FREE |
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