Professor

Kristiaan KERSTENS

Kristiaan KERSTENS
Full Professor
Ph.D. in Economics Sciences - KU Brussel
CNRS Research Director
Track: Economics
LEM Member
Education
  • 1994 : Ph.D. in Economics Sciences, KU Brussel, Belgium
Scientific prizes and Awards
Awards
  • 2013 : Prime d'excellence scientifique (2010-2013), CNRS
  • 2012 : Prime d'excellence scientifique (2010-2013), CNRS
  • 2011 : Prime d'excellence scientifique (2010-2013), CNRS
  • 2010 : Prime d'excellence scientifique (2010-2013), CNRS
Honors
  • 2012 : Outstanding peer reviewer, Elsevier
  • 1999 : "Citation of Excellence" (Highest Quality Rating), ANBAR Electronic Intelligence
Published Papers in Refereed Journals
  • Cesaroni G., Kerstens K., Van de Woestyne I. , (2019). Short- and Long-Run Plant Capacity Notions: Definitions and Comparison, European Journal of Operational Research, 275 (1) 387-397.
  • Kerstens K., Sadeghi J. , Van de Woestyne I. , (2019). Plant Capacity and Attainability: Exploration and Remedies, Operations Research, 67 (4) 1135-1149.
  • Kerstens K., Van de Woestyne I., (2019). The Remarkable Incidence of Congestion in Production: A Review, Empirical Illustration, and Research Agenda, Data Envelopment Analysis Journal, forthcoming forthcoming.
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  • Daraio C., Kerstens K., Nepomuceno T., Sickles R.C., (2019). Empirical Surveys of Frontier Applications: A Meta-Review, International Transactions in Operational Research, forthcoming forthcoming.
  • Daraio C., Kerstens K., Nepomuceno T. , Sickles R. , (2019). Productivity and Efficiency Analysis Software: An Exploratory Bibliographical Survey of the Options, Journal of Economic Surveys, 33 (1) 85-100.
  • Kerstens K., Sadeghi J., Van de Woestyne I., (2019). Convex and Nonconvex Input-Oriented Technical and Economic Capacity Measures: An Empirical Comparison, European Journal of Operational Research, 276 (2) 699-709.
  • Kerstens K., O’Donnell C. , Van de Woestyne I. , (2019). Metatechnology Frontier and Convexity: A Restatement, European Journal of Operational Research, 275 (2) 780-792.
  • Kerstens K., Shen Z., Van de Woestyne I. , (2018). Comparing Luenberger and Luenberger-Hicks-Moorsteen Productivity Indicators: How Well is Total Factor Productivity Approximated?, International Journal of Production Economics, 195 311-318.
  • Briec W., Kerstens K., Van de Woestyne I., (2018). Hypercongestion in Production Correspondences: An Empirical Exploration, Applied Economics, 50 (27) 2938-2956.
  • Kerstens K., Van de Woestyne I., (2018). Enumeration Algorithms for FDH Directional Distance Functions under Different Returns to Scale Assumptions, Annals of Operations Research, 271 (2) 1067-1078.
  • Briec W., Kerstens K., Prior D., Van de Woestyne I., (2018). Testing General and Special Färe-Primont Indices: A Proposal for Public and Private Sector Synthetic Indices of European Regional Expenditures and Tourism, European Journal of Operational Research, 271(2018) 756-768.
  • Cesaroni G., Kerstens K., Van de Woestyne I. , (2017). Global and Local Scale Characteristics in Convex and Nonconvex Nonparametric Technologies: A First Empirical Exploration, European Journal of Operational Research, 259 (2) 576-586.
  • Cesaroni G., Kerstens K., Van de Woestyne I., (2017). Estimating Scale Economies in Non-Convex Production Models, Journal of the Operational Research Society, 68 (11) 1442-1451.
  • Cesaroni G., Kerstens K., Van de Woestyne I., (2017). A New Input-Oriented Plant Capacity Notion: Definition and Empirical Comparison, Pacific Economic Review, 22 (4) 720–739.
  • Briec W., Kerstens K., Van de Woestyne I., (2016). Congestion in Production Correspondences, Journal of Economics, 119 (1) 65-90.
  • Brandouy O., Kerstens K., Van de Woestyne I., (2015). Frontier-based vs. Traditional Mutual Fund Ratings: A First Backtesting Analysis, European Journal of Operational Research, 242 (1) 332-342.
  • Kerstens K., Van de Woestyne I., (2014). A Note on a Variant of Radial Measure Capable of Dealing with Negative Inputs and Outputs in DEA, European Journal of Operational Research, 234 (1) 341-342.
  • Kerstens K., Van de Woestyne I., (2014). Solution Methods for Nonconvex Free Disposal Hull Models: A Review and Some Critical Comments, Asia-Pacific Journal of Operational Research, 31 (1) 1450010-1 - 1450010-13.
  • Kerstens K., Van de Woestyne I., (2014). Comparing Malmquist and Hicks-Moorsteen Productivity Indices: Exploring the Impact of Unbalanced vs. Balanced Panel Data, European Journal of Operational Research, 233 (3) 749–758.
  • Briec W., Kerstens K., Van de Woestyne I., (2014). Nonparametric Cost and Revenue Functions under Constant Economies of Scale: An Enumeration Approach for the Single Output or Input Case, International Transactions in Operational Research, 21 (4) 619-625.
  • Briec W., Kerstens K., Van de Woestyne I., (2013). Portfolio Selection with Skewness: A Comparison of Methods and a Generalized One Fund Result, European Journal of Operational Research, 230 (2) 412-421.
  • Briec W., Kerstens K., Peypoch N., (2012). Exact Relations between Four Definitions of Productivity Indices and Indicators, Bulletin of Economic Research, 64 (2) 265-274.
  • Sahoo B.K., Kerstens K., Tone K., (2012). Returns to Growth in a Non-Parametric DEA Approach, International Transactions in Operational Research, 19 (3) 463-486.
  • De Borger B., Kerstens K., Prior D., Van de Woestyne I., (2012). Static Efficiency Decompositions and Capacity Utilisation: Integrating Technical and Economic Capacity Notions, Applied Economics, 44 (31) 4125-4141.
  • Kerstens K., Mounir A., Van de Woestyne I., (2012). Benchmarking Mean-Variance Portfolios Using a Shortage Function: The Choice of Direction Vector Affects Rankings!, Journal of the Operational Research Society, 63 (9) 1199-1212.
  • Kerstens K., Managi S., (2012). Total Factor Productivity Growth and Convergence in the Petroleum Industry: Empirical Analysis Testing for Convexity, The International Journal of Production Economics, 139 (1) 196-206.
  • Epure M., Kerstens K., Prior D., (2011). Bank Productivity and Performance Groups: A Decomposition Approach Based upon the Luenberger Productivity Indicator, European Journal of Operational Research, 211 (3) 630-641.
  • Briec W., Kerstens K., (2011). The Hicks-Moorsteen Productivity Index Satisfies the Determinateness Axiom, Manchester School, 97 (4) 765–775.
  • Kerstens K., Mounir A., Van de Woestyne I., (2011). Geometric Representation of the Mean-Variance-Skewness Portfolio Frontier Based upon the Shortage Function, European Journal of Operational Research, 210 (1) 81-94.
  • Briec W., Cavaignac L., Kerstens K., (2011). Directional Measurement of Technical Efficiency of Production: An Axiomatic Approach, Economic Modelling, 28 (3) 775-781.
  • Kerstens K., Van de Woestyne I., (2011). Negative Data in DEA: A Simple Proportional Distance Function Approach, Journal of the Operational Research Society, 62 (7) 1413-1419.
  • Kerstens K., Mounir A., Van de Woestyne I., (2011). Non-Parametric Frontier Estimates of Mutual Fund performance Using C- and L-Moments: Some Specification Tests, Journal of Banking & Finance, 35 (5) 1190-1201.
  • Epure M., Kerstens K., Prior D., (2011). Technology-Based Total Factor Productivity and Benchmarking: New Proposals and an Application, Omega, International Journal of Management Science, 39 (6) 608-619.
  • Chumpitaz R., Kerstens K., Paparoidamis N., Staat M., (2010). Comparing Efficiency Across Markets: An Extension and Critique of the Zhang and Bartels (1998) Methodology, European Journal of Operational Research, 205 (3) 719-728.
  • Brandouy O., Briec W., Kerstens K., Van de Woestyne I., (2010). Portfolio Performance Gauging in Discrete Time Using a Luenberger Productivity Indicator, Journal of Banking & Finance, 34 (8) 1899-1910.
  • Briec W., Kerstens K., (2010). Portfolio Selection in Multidimensional General and Partial Moment Space, Journal of Economic Dynamics & Control, 34 (4) 636-656.
  • Chumpitaz R., Kerstens K., Paparoidamis N., Staat M., (2010). Hedonic Price Function Estimation in Economics and Marketing: Revisiting Lancaster’s Issue of "Noncombinable" Goods, Annals of Operations Research, 173 (1) 145-161.
  • Brandouy O., Kerstens K., Van de Woestyne I., (2010). Exploring Bi-Criteria versus Multi-Dimensional Lower Partial Moment Portfolio Models, International Journal of Technology, Modeling & Management, 1 (1) 25-39.
  • Briec W., Kerstens K., Prior D., Van de Woestyne I., (2010). Tangency Capacity Notions Based upon the Profit and Cost Functions: A Non-Parametric Approach and a Comparison, Economic Modelling, 27 (5) 56-1166 .
  • Briec W., Kerstens K., (2009). Multi-horizon Markowitz portfolio performance appraisals: A general approach, Omega, International Journal of Management Science, 37 (1) 50-62.
  • Briec W., Kerstens K., (2009). The Luenberger Productivity Indicator: An Economic Specification Leading to Infeasibilities, Economic Modelling, 26 (3) 597-600.
  • Briec W., Kerstens K., (2009). Infeasibilities and Directional Distance Functions: With Application to the Determinateness of the Luenberger Productivity Indicator, Journal of Optimization Theory and Applications, 14 (1) 55-73.
  • Kjærsgaard J., Vestergaard N., Kerstens K., (2009). Ecological Benchmarking to Explore Alternative Fishing Schemes to Protect Endangered Species by Substitution: The Danish Demersal Fishery in the North Sea, Environmental and Resource Economics, 43 (4) 573-590.
  • Grifell-Tatjé E., Kerstens K., (2008). Incentive Regulation and the Role of Convexity in Benchmarking Electricity Distribution: Economists versus Engineers, Annals of Public and Cooperative Economics (Annales de l'Économie publique sociale et coopérative), 79 (2) 227-248.
  • Stefanou S.E., Kerstens K., (2008). Applied Production Analysis Unveiled in Open Peer Review: Introductory Remarks, Journal of Productivity Analysis, 30 (1) 1-6.
  • De Borger B., Kerstens K., Staat M., (2008). Transit Costs and Cost Efficiency: Bootstrapping Non-Parametric Frontiers, Research in Transportation Economics, 23 (1) 53-64.
  • Blancard S., Boussemart J.P., Briec W., Kerstens K., (2008). Technology Adoption in French Agriculture and the Role of Financial Constraints, Bulletin of University of Agricultural Sciences and Veterinary Medicine Cluj-Napoca. Agriculture, 65 (2) 17-29 .
  • Briec W., Kerstens K., Jokung O., (2007). Mean-Variance-Skewness Portfolio Performance Gauging: A General Shortage Function and Dual Approach, Management Science, 53 (1) 135-149.
  • Briec W., Comes C., Kerstens K., (2006). Temporal Technical and Profit Efficiency Measurement: Definitions, Duality and Aggregation Results, The International Journal of Production Economics, 103 (1) 48-63.
  • Kerstens K., Vestergaard N., Squires D., (2006). A Short-Run Johansen Industry Model for Common-Pool Resources: Planning a Fisheries’ Industrial Capacity to Curb Overfishing, European Review of Agricultural Economics, European Review of Agricultural Economics, 33 (3) 361-389.
  • Briec W., Kerstens K., (2006). Input, Output and Graph Technical Efficiency Measures on Non-Convex FDH Models with Various Scaling Laws: An Integrated Approach Based Upon Implicit Enumeration Algorithms, TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, 14 (1) 135-166.
  • Blancard S., Boussemart J.P., Briec W., Kerstens K., (2006). Short- and Long-Run Credit Constraints in French Agriculture: A Directional Distance Function Framework Using Expenditure-Constrained Profit Functions, American Journal of Agricultural Economics, 88 (2) 351-364.
  • Kerstens K., Squires D., Vestergaard N., (2005). Methodological Reflections on the Short-Run Johansen Industry Model in Relation to Capacity Management, Marine Resource Economics, 20 (4) 425-443.
  • Briec W., Kerstens K., Vanden Eeckaut P., (2004). Non-convex Technologies and Cost Functions: Definitions, Duality and Nonparametric Tests of Convexity, Journal of Economics, 81 (2) 155-192.
  • Briec W., Kerstens K., Lesourd J.-B., (2004). Single Period Markowitz Portfolio Selection, Performance Gauging and Duality: A Variation on Luenberger's Shortage Function, Journal of Optimization Theory and Applications, 120 (1) 1-27.
  • Briec W., Kerstens K., (2004). A Luenberger-Hicks-Moorsteen Productivity Indicator : Its Relation to the Hicks-Moorsteen Productivity Index and the Luenberger Productivity Indicator, Economic Theory, 23 (4) 925-939.
  • Boussemart J.P., Briec W., Kerstens K., Poutineau J.-C., (2003). Luenberger and Malmquist Productivity Indices: Theoretical Comparisons and Empirical Illustration, Bulletin of Economic Research, 55 (4) 391-405.
  • Blancard S., Boussemart J.P., Kerstens K., (2003). L'influence des contraintes de financement de court terme sur le profit des exploitations agricoles: Une approche non paramétrique, Économie et Prévision (articles académiques), 159 (3) 71-81.
  • De Borger B., Kerstens K., Costa Á., (2002). Public Transit Performance: What Does One Learn From Frontier Studies?, Transport Reviews, 22 (1) 1-38.
  • Briec W., Kerstens K., Leleu H., Vanden Eeckaut P., (2000). Returns to Scale on Nonparametric Deterministic Technologies: Simplifying Goodness-of-Fit Methods Using Operations on Technologies, Journal of Productivity Analysis, 14 (3) 267-274.
  • De Borger B., Kerstens K., (2000). The Malmquist Productivity Index and Plant Capacity Utilization, Scandinavian Journal of Economics, 102 (2) 303-310.
  • Kerstens K., Vanden Eeckaut P., (1999). Estimating Returns to Scale Using Nonparametric Deterministic Technologies: A New Method Based on Goodness-of-Fit, European Journal of Operational Research, 113 (1) 206-214.
  • Kerstens K., Vanden Eeckaut P., (1999). A New Criterion for Technical Efficiency Measures: Non-Monotonicity Across Dimensions Axioms, Managerial and Decision Economics, 20 (1) 45-59.
  • Kerstens K., (1999). Decomposing Technical Efficiency and Effectiveness of French Urban Transport, Annales d'Économie et Statistiques, (54) 129-155.
  • Dervaux B., Kerstens K., Leleu H., (1999). Rationalisation de l'offre de soins en chirurgie: Réduction des surcapacités et réallocation sectorielle, Revue Economique, 50 (3) 645-655.
  • De Borger B., Ferrier G., Kerstens K., (1998). The Choice of a Technical Efficiency Measure on the Free Disposal Hull Reference Technology: A Comparison using US Banking Data, European Journal of Operational Research, 105 (3) 427-446.
  • Dervaux B., Kerstens K., Vanden Eeckaut P., (1998). Radial and Nonradial Static Efficiency Decompositions: A Focus On Congestion Measurement, Transportation Research: Part B: Methodological, 32 (5) 299-312.
  • Kerstens K., (1996). Technical Efficiency Measurement and Explanation of French Urban Transit Companies, Transportation Research: Part A: Policy and Practice, 30 (6) 431-452.
  • De Borger B., Kerstens K., (1996). Radial and Nonradial Measures of Technical Efficiency: An Empirical Illustration for Belgian Local Governments using an FDH Reference Technology, Journal of Productivity Analysis, 7 (1) 41-62.
  • De Borger B., Kerstens K., (1996). Cost Efficiency of Belgian Local Governments: A Comparative Analysis of FDH, DEA, and Econometric Approaches, Regional Science and Urban Economics, 26 (2) 145-170.
  • De Borger B., Kerstens K., (1995). Produktiviteit en Efficiëntie in de Belgische Publieke Sector: Situering en Resultaten van Recent Empirisch Onderzoek, Tijdschrift voor Economie en Management, 40 (2) 101-131.
  • Kerstens K., Vanden Eeckaut P., (1995). The Economic Cost of Subsidy-Induced Technical Inefficiency: A Methodological Postscript, International Journal of Transport Economics, 22 (2) 225-229.
  • Ferrier G., Kerstens K., Vanden Eeckaut P., (1994). Radial and Nonradial Technical Efficiency Measures on a DEA Reference Technology: A Comparison using US Banking Data, Recherches Économiques de Louvain / Louvain Economic Review, 60 (4) 449-479.
  • De Borger B., Kerstens K., Moesen W., Vanneste J., (1994). A Non-Parametric Free Disposal Hull (FDH) Approach to Technical Efficiency: An Illustration of Radial and Graph Efficiency Measures and Some Sensitivity Results, Swiss Journal of Economics and Statistics, 130 (4) 647-667.
  • Kerstens K., De Borger B., Moesen W., Vanneste J., (1994). Explaining Differences in Productive Efficiency: An Application to Belgian Municipalities, Public Choice, 80 (3-4) 339-358.
  • Kerstens K., Meyermans E., (1993). The Draft versus an All-Volunteer Force: Issues of Efficiency and Equity in the Belgian Draft, Defence Economics, 4 (3) 271-284.
  • De Borger B., Kerstens K., (1993). Technische Efficiëntie in de Gemeentelijke Voorzieningen, Economisch en Sociaal Tijdschrift, 47 (4) 665-690.
  • De Borger B., Kerstens K., Moesen W., Vanneste J., (1990). Efficiency and Equity in Block Grant Design: Simulating some Alternatives for Flemish Municipalities, Brussels Economic Review / Cahiers Économiques de Bruxelles, 32 (128) 399-421.
Book Chapters
  • Brandouy O., Kerstens K., Van de Woestyne I., (2013), Backtesting Super-Fund Portfolio Strategies Based on Frontier-Based Mutual Fund Ratings , in: Efficiency and Productivity Growth: Modelling in the Financial Services Industry .
  • Kerstens K., Moulaye Hachem B.A., Van de Woestyne I., Vestergaard N., (2010), Optimal Capacity Utilization and Reallocation in a German Bank Branch Network: Exploring Some Strategic Scenarios , in: Progress in Economics Research .
  • De Borger B., Kerstens K., (2008), The Performance of Bus-Transit Operators , in: Handbook of Transport Modelling .
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  • Chumpitaz R., Kerstens K., Paparoidamis N., (2006), Performancemessung im Marketing - Von ein- zu multidimensionalen und von Durchschnitts- zu Frontierkonzepten, in: Marketing-Effizienz: Messung und Steuerung mit der DEA– Konzept und Einsatz in der Praxis.
  • De Borger B., Kerstens K., (2000), The Performance of Bus Transit Operators, in: Handbook of Transport Modelling.
  • De Borger B., Kerstens K., (2000), What Is Known about Municipal Efficiency? The Belgian Case and Beyond, in: Public Provision and Performance: Contributions from Efficiency and Productivity Measurement.
  • Dervaux B., Kerstens K., Leleu H., (2000), Remedying Excess Capacities in French Surgery Units by Industry Reallocations: The Scope for Short and Long Term Improvements in Plant Capacity Utilization, in: Public Provision and Performance: Contributions from Efficiency and Productivity Measurement.
  • Kerstens K., Vanden Eeckaut P., (1999), Décomposition de l'efficacité technique: Illustration sur base des technologies FDH et DEA, in: La méthode DEA: analyse des performances.
  • De Borger B., Kerstens K., Van Dender K., (1997), Instrumenten voor een Transportbeleid, in: Mobiliteit: De Juiste Prijs.
  • De Borger B., Kerstens K., (1994), Produktiviteit en Efficiëntie in de Belgische Publieke Sector, in: De Toekomst van de Publieke Sector.
  • De Borger B., Kerstens K., Moesen W., Vanneste J., (1992), Efficienza e Equità nella Costruzione di un Sistema di Sussidi: Alcune Simulazioni sulle Municipalità Fiamminghe,, in: Perequazione e Finanza Locale: Esperienze Europee a Confronto.
  • Kerstens K., (1988), Rationele Verklaringsmodellen in de Sociale Wetenschappen en in de Ethiek: of over het zich Uitbreidende Domein van de Economische Wetenschap, (Modèles de choix rationnels dans les sciences sociales et l'ethique : ou sur l'expansion territoriale des sciences économiques), in: Congresbundel Filosofiedag Antwerpen 1988.
Research fields
  • Efficiency measurement (benchmarking) of private and public sector organisations
  • Productivity indices and indicators (Total Factor Productivity)
  • Portfolio optimisation with higher moments
Teaching
Grande Ecole Program:
  • Multi-moment portfolios: an introduction
  • Efficiency and benchmarking in banking
  • Applied optimisation and heuristics
  • Financial markets and institutions 2
  • Productivity and benchmarking in banking
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