A FURTHER NOTE ON THE MEASUREMENT OF EFFICIENCY AND ECONOMIES OF FARM SIZE
指出在不确定性和信息成本高昂的现实条件下，效率概念失去精确含义，规模经济概念也失去规范意义，强调企业家活动在利用未开发利润机会中的作用。
Efficiency has a precise meaning in the case of the optimally conditions associated with the perfectly competitive norm. However, the efficiency concept loses a precise meaning and much of its usefulness under real world conditions of uncertainty and costly information since efficiency is inescapably evaluative and cannot be defined and measured independently of the goals and knowledge of the decision maker. Similarly, the concept ‘economies of size’ is shown to lose its normative significance when specialised resources and other unique aspects of the firm are taken into account. Although the economist has no objective procedure by which to measure the efficiency of entrepreneurial activity, it is argued that in the real world of uncertainty and disequilibrium, there is always scope for entrepreneurial activity in the sense of unexploited profit opportunities.