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Bayesian efficiency analysis with a flexible cost function

Author

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  • Koop, Gary
  • Osiewalski, Jacek
  • Steel, Mark F.J.

Abstract

In this paper we describe the use of Gibbs sampling methods for drawing posterior inferences in a model with an asymptotically ideal price aggregator, non-constant returns to scale and composed error. An empirical example illustrates the sensitivity of efficiency measures to assumptions made about the functional form of the frontier.

Suggested Citation

  • Koop, Gary & Osiewalski, Jacek & Steel, Mark F.J., 1993. "Bayesian efficiency analysis with a flexible cost function," DES - Working Papers. Statistics and Econometrics. WS 3703, Universidad Carlos III de Madrid. Departamento de Estadística.
    • Handle: RePEc:cte:wsrepe:3703
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    Keywords

    Stochastic frontiers;

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