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Benchmark Selection: An Axiomatic Approach

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  • Jens Leth Hougaard

    (Institute of Economics, University of Copenhagen)

  • Mich Tvede

    (Institute of Economics, University of Copenhagen)

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

Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 01-06.

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Length: 20 pages
Date of creation: Feb 2001
Date of revision:
Handle: RePEc:kud:kuiedp:0106

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Keywords: Benchmarking; Production Economics; Selection;

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References

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  1. Christensen, Flemming & Hougaard, Jens Leth & Keiding, Hans, 1999. "An axiomatic characterization of efficiency indices," Economics Letters, Elsevier, Elsevier, vol. 63(1), pages 33-37, April.
  2. 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, Elsevier, vol. 23(3), pages 251-268, May.
  3. Allen N. Berger & David B. Humphrey, 1997. "Efficiency of Financial Institutions: International Survey and Directions for Future Research," Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania 97-05, Wharton School Center for Financial Institutions, University of Pennsylvania.
  4. Bergstrom, Theodore C., 1975. "Maximal elements of acyclic relations on compact sets," Journal of Economic Theory, Elsevier, Elsevier, vol. 10(3), pages 403-404, June.
  5. Walker, Mark, 1977. "On the existence of maximal elements," Journal of Economic Theory, Elsevier, Elsevier, vol. 16(2), pages 470-474, December.
  6. 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.
  7. 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.
  8. 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.
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Citations

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Cited by:
  1. Jens Leth Hougaard & Mich Tvede, 2010. "n-Person Nonconvex Bargaining: Efficient Proportional Solutions," MSAP Working Paper Series, University of Copenhagen, Department of Food and Resource Economics 02_2010, University of Copenhagen, Department of Food and Resource Economics.
  2. Bogetoft, Peter & Hougaard, Jens Leth, 2000. "Super Efficiency Evaluations Based on Potential Slack," Unit of Economics Working papers, Royal Veterinary and Agricultural University, Food and Resource Economic Institute 24194, Royal Veterinary and Agricultural University, Food and Resource Economic Institute.
  3. Torben Holvad & Jens Hougaard & Dorte Kronborg & Hans Kvist, 2004. "Measuring inefficiency in the Norwegian bus industry using multi-directional efficiency analysis," Transportation, Springer, Springer, vol. 31(3), pages 349-369, August.

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