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Multiple comparisons with the best, with economic applications

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Author Info
William C. Horrace (Department of Economics, University of Arizona, Tucson, AZ 85721, USA)
Peter Schmidt (Department of Economics, Michigan State University, East Lansing, MI 48824, USA)

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Abstract

In this paper we discuss a statistical method called multiple comparisons with the best, or MCB. This paper is meant to introduce MCB to economists. We discuss possible uses of MCB in economics. The application that we treat in most detail is the construction of confidence intervals for inefficiency measures from stochastic frontier models with panel data. We also consider an application to the analysis of labour market wage gaps. Copyright © 2000 John Wiley & Sons, Ltd.

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File URL: http://qed.econ.queensu.ca:80/jae/2000-v15.1/
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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Journal of Applied Econometrics.

Volume (Year): 15 (2000)
Issue (Month): 1 ()
Pages: 1-26
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Handle: RePEc:jae:japmet:v:15:y:2000:i:1:p:1-26

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. William H. Greene, 1993. "Frontier Production Functions," Working Papers 93-20, New York University, Leonard N. Stern School of Business, Department of Economics.
  2. Park, B.U. & Simar, L., 1992. "Efficient Semiparametric Estimation in Stochastic Frontier Model," Papers 9201, Catholique de Louvain - Institut de statistique.
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  3. Kumbhakar, Subal C., 1990. "Production frontiers, panel data, and time-varying technical inefficiency," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 201-211. [Downloadable!] (restricted)
  4. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July. [Downloadable!] (restricted)
  5. Stevenson, Rodney E., 1980. "Likelihood functions for generalized stochastic frontier estimation," Journal of Econometrics, Elsevier, vol. 13(1), pages 57-66, May. [Downloadable!] (restricted)
  6. Cornwell, C. & Schmidt, P., 1993. "Production Frontiers and Efficiency Measurement," Papers 427e, Georgia - College of Business Administration, Department of Economics.
  7. Judith Fields & Edward N. Wolff, 1995. "Interindustry wage differentials and the gender wage gap," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 49(1), pages 105-120, October.
  8. Koop, Gary & Osiewalski, Jacek & Steel, Mark F. J., 1997. "Bayesian efficiency analysis through individual effects: Hospital cost frontiers," Journal of Econometrics, Elsevier, vol. 76(1-2), pages 77-105. [Downloadable!] (restricted)
  9. Seale, James M, Jr, 1990. "Estimating Stochastic Frontier Systems with Unbalanced Panel Data: The Case of Floor Tile Manufactories in Egypt," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 5(1), pages 59-74, January-M. [Downloadable!] (restricted)
  10. Pitt, Mark M. & Lee, Lung-Fei, 1981. "The measurement and sources of technical inefficiency in the Indonesian weaving industry," Journal of Development Economics, Elsevier, vol. 9(1), pages 43-64, August. [Downloadable!] (restricted)
  11. Greene, William H., 1990. "A Gamma-distributed stochastic frontier model," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 141-163. [Downloadable!] (restricted)
  12. Schmidt, Peter & Sickles, Robin C, 1984. "Production Frontiers and Panel Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 2(4), pages 367-74, October.
  13. Peter Schmidt, 1985. "Frontier production functions," Econometric Reviews, Taylor and Francis Journals, vol. 4(2), pages 289-328. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Viliam Druska & William C. Horrace, 2002. "Generalized Moments Estimation for Spatial Panel Data: Indonesian Rice Farming," Econometrics 0206004, EconWPA, revised 11 May 2003. [Downloadable!]
    Other versions:
  2. Markus Frölich, 2006. "Statistical Treatment Choice: An Application to Active Labour Market Programmes," IZA Discussion Papers 2187, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  3. Markus Frölich & Michael Lechner & Heidi Steiger, 2003. "Statistically Assisted Programme Selection - International Experiences and Potential Benefits for Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 139(III), pages 311-331, September. [Downloadable!]
    Other versions:
  4. William C. Horrace & Seth O. Richards, 2007. "A Monte Carlo Study of Efficiency Estimates from Frontier Models," Center for Policy Research Working Papers 97, Center for Policy Research, Maxwell School, Syracuse University. [Downloadable!]
  5. Dorfman, Jeffrey H. & Atkinson, Scott E., 2002. "Multiple Comparisons With The Best: Bayesian Precision Measures Of Efficiency Rankings," 2002 Annual meeting, July 28-31, Long Beach, CA 19800, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  6. Stefanie Behncke & Markus Frölich & Michael Lechner, 2007. "Targeting Labour Market Programmes: Results from a Randomized Experiment," IZA Discussion Papers 3085, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  7. Dan Black & Natalia Kolesnikova & Lowell J. Taylor, 2007. "Earnings functions when wages and prices vary by location," Working Papers 2007-031, Federal Reserve Bank of St. Louis. [Downloadable!]
    Other versions:
  8. Iain Fraser & William C. Horrace, 2002. "Technical Efficiency of Australian Wool Production: Point and Confidence Interval Estimates," Public Economics 0206001, EconWPA, revised 11 May 2003. [Downloadable!]
  9. William C. Horrace, 2002. "Selection Procedures for Order Statistics in Empirical Economic Studies," Econometrics 0206005, EconWPA. [Downloadable!]
  10. Myungsup Kim & Yangseon Kim & Peter Schmidt, 2007. "On the accuracy of bootstrap confidence intervals for efficiency levels in stochastic frontier models with panel data," Journal of Productivity Analysis, Springer, vol. 28(3), pages 165-181, December. [Downloadable!] (restricted)
    Other versions:
  11. William C. Horrace, 2003. "On Ranking and Selection from Independent Truncated Normal Distributions," Econometrics 0306009, EconWPA. [Downloadable!]
    Other versions:
  12. Michael Rosholm & Jonas Staghøj & Michael Svarer, 2007. "A Statistical Programme Assignment Model," Economics Working Papers 2007-16, School of Economics and Management, University of Aarhus. [Downloadable!]
    Other versions:
  13. William Greene, 2002. "Fixed and Random Effects in Stochastic Frontier Models," Working Papers 02-16, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
  14. Yangseon Kim & Peter Schmidt, 1998. "Marginal Comparisons with the Best ant the Efficiency Measurment Problem," Working Papers 0703, University of Crete, Department of Economics, revised 00 Dec 2006. [Downloadable!]
    Other versions:
  15. Kim Rose Olsen & Andrew Street, 2008. "The analysis of efficiency among a small number of organisations: How inferences can be improved by exploiting patient-level data," Health Economics, John Wiley & Sons, Ltd., vol. 17(6), pages 671-681. [Downloadable!]
  16. William C. Horrace & Joseph T. Marchand & Timothy M. Smeeding, 2006. "Ranking Inequality: Applications of Multivariate Subset Selection," Working Papers 21, ECINEQ, Society for the Study of Economic Inequality. [Downloadable!]
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  17. Alfonso Flores-Lagunes & William C. Horrace & Kurt E. Schnier, 2006. "Identifying Technically Efficient Fishing Vessels: A Non-Empty, Minimal Subset Approach," Center for Policy Research Working Papers 78, Center for Policy Research, Maxwell School, Syracuse University. [Downloadable!]
    Other versions:
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