A Monte Carlo Study of Old and New Frontier Methods for Efficiency Measurement
This study presents the results of an extensive Monte Carlo experiment to compare different methods of efficiency analysis. In addition to traditional parametric-stochastic and nonparametric-deterministic methods recently developed robust nonparametric-stochastic methods are considered. The experimental design comprises a wide variety of situations with different returns-to-scale regimes, substitution elasticities and outlying observations. As the results show, the new robust nonparametric-stochastic methods should not be used without cross-checking by other methods like stochastic frontier analysis or data envelopment analysis. These latter methods appear quite robust in the experiments.
|Date of creation:||Feb 2011|
|Date of revision:|
|Publication status:||Published in Darmstadt Discussion Papers in Economics . 200 (2011-02)|
|Note:||for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/48892/|
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- Johannes Van Biesebroeck, 2004.
"Robustness of Productivity Estimates,"
NBER Working Papers
10303, National Bureau of Economic Research, Inc.
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