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Benchmark selection: An axiomatic approach

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  • Hougaard, Jens Leth
  • Tvede, Mich

Abstract

Within a production theoretic framework, this paper considers an axiomatic approach to benchmark selection. It is shown that two simple and weak axioms: efficiency and comprehensive monotonicity characterize a natural family of benchmarks which typically becomes unique. Further axioms are added in order to obtain a unique selection.

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Bibliographic Info

Article provided by Elsevier in its journal European Journal of Operational Research.

Volume (Year): 137 (2002)
Issue (Month): 1 (February)
Pages: 218-228

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Handle: RePEc:eee:ejores:v:137:y:2002:i:1:p:218-228

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  1. E. Thanassoulis & R. Allen, 1998. "Simulating Weights Restrictions in Data Envelopment Analysis by Means of Unobserved DMUs," Management Science, INFORMS, INFORMS, vol. 44(4), pages 586-594, April.
  2. Christensen, Flemming & Hougaard, Jens Leth & Keiding, Hans, 1999. "An axiomatic characterization of efficiency indices," Economics Letters, Elsevier, vol. 63(1), pages 33-37, April.
  3. Walker, Mark, 1977. "On the existence of maximal elements," Journal of Economic Theory, Elsevier, vol. 16(2), pages 470-474, December.
  4. Bergstrom, Theodore C., 1975. "Maximal elements of acyclic relations on compact sets," Journal of Economic Theory, Elsevier, vol. 10(3), pages 403-404, June.
  5. Allen N. Berger & David B. Humphrey, 1997. "Efficiency of financial institutions: international survey and directions for future research," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 1997-11, Board of Governors of the Federal Reserve System (U.S.).
  6. Leibenstein, Harvey & Maital, Shlomo, 1994. "The organizational foundations of X-inefficiency: A game-theoretic interpretation of Argyris' model of organizational learning," Journal of Economic Behavior & Organization, Elsevier, vol. 23(3), pages 251-268, May.
  7. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, Elsevier, vol. 2(6), pages 429-444, November.
  8. Post, Thierry & Spronk, Jaap, 1999. "Performance benchmarking using interactive data envelopment analysis," European Journal of Operational Research, Elsevier, Elsevier, vol. 115(3), pages 472-487, June.
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Cited by:
  1. Jens Leth Hougaard & Mich Tvede, 2010. "n-Person Nonconvex Bargaining: Efficient Proportional Solution," Discussion Papers 10-21, University of Copenhagen. Department of Economics.
  2. Torben Holvad & Jens Hougaard & Dorte Kronborg & Hans Kvist, 2004. "Measuring inefficiency in the Norwegian bus industry using multi-directional efficiency analysis," Transportation, Springer, vol. 31(3), pages 349-369, August.
  3. Bogetoft, Peter & Leth Hougaard, Jens, 2004. "Super efficiency evaluations based on potential slack," European Journal of Operational Research, Elsevier, Elsevier, vol. 152(1), pages 14-21, January.

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