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Data Envelopment Analysis in a Stochastic Setting: The right answer from the wrong model?

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  • Gstach, Dieter

Abstract

Data envelopment analysis (DEA) is compared to stochastic production function estimation (SPFE) in a noisy setting. The statistic of interest is the average efficiency estimator. Monte-Carlo simulations show that the mean squared error of the DEA-estimator even for considerable noise remains below the MSE of the SPFE analogue. A bootstrapping approach is designed to get some first-step statistical underpinning of this DEA average efficiency estimator. The coverage of the bootstrapping approximation to the distribution of this estimator is shown to be fairly good.

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  • Gstach, Dieter, 1994. "Data Envelopment Analysis in a Stochastic Setting: The right answer from the wrong model?," Department of Economics Working Paper Series 29, WU Vienna University of Economics and Business.
    • Handle: RePEc:wiw:wus005:6304
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    Cited by:

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    3. Harald Badinger & Ingrid Kubin, 2007. "Vom kurzfristigen zum mittelfristigen Gleichgewicht in einer offenen Volkswirtschaft unter fixen und flexiblen Wechselkursen," Department of Economics Working Papers wuwp101, Vienna University of Economics and Business, Department of Economics.
    4. Currie, Martin & Kubin, Ingrid, 2005. "Fixed price dynamics versus flexible price dynamics," Department of Economics Working Paper Series 89, WU Vienna University of Economics and Business.
    5. Bellak, Christian & Cantwell, John, 1995. "Measuring the Importance of International Production: The Re-estimation of Foreign Direct Investment at Current Values," Department of Economics Working Paper Series 30, WU Vienna University of Economics and Business.

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