Different approaches to efficiency analysis. An application to the Spanish Trawl fleet operating in Moroccan waters

Several approaches exist for the estimation of technical efficiency. In this paper the four most relevant ones (Data Envelopment Analysis, Stochastic Production Frontiers, Panel Data and Distance Functions) have been compared. The different approaches have been applied to the to the Spanish Trawl fishery that operated in Moroccan waters. The study highlights some of the problems arising from the wrong management of the fishery. It can also be concluded that in most cases, the multi vs single output feature is determinant in producing higher differences in the efficiency estimates, though the effect of either ignoring or taking into account random error also influences the results.