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dc.contributor.authorAndor, Marken_US
dc.contributor.authorHesse, Frederiken_US
dc.date.accessioned2012-09-05en_US
dc.date.accessioned2012-09-06T12:43:16Z-
dc.date.available2012-09-06T12:43:16Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/62132-
dc.description.abstractBased on the seminal paper of Farrell (1957), researchers have developed several methods for measuring efficiency. Nowadays, the most prominent representatives are nonparametric data envelopment analysis (DEA) and parametric stochastic frontier analysis (SFA), both introduced in the late 1970s. Since decades, researchers have been attempting to develop a method which combines the virtues - both nonparametric and stochastic - of these oldies. The recently introduced Stochastic non-smooth envelopment of data (StoNED) by Kuosmanen and Kortelainen (2010) is a promising method. This paper compares the StoNED method with the two oldies DEA and SFA and extends the initial Monte Carlo simulation of Kuosmanen and Kortelainen (2010) in two directions. Firstly, we consider a wider range of conditions. Secondly, we also consider the maximum likelihood estimator (ML) and the pseudolikelihood estimator (PL) for SFA and StoNED, respectively. We show that, in scenarios without noise, the rivalry is still between the oldies, while in noisy scenarios, the nonparametric StoNED PL now constitutes a promising alternative to the SFA ML.en_US
dc.language.isoengen_US
dc.publisherCAWM Münsteren_US
dc.relation.ispartofseriesCAWM Discussion Paper, Centrum für Angewandte Wirtschaftsforschung Münster 60en_US
dc.subject.jelC1en_US
dc.subject.jelC5en_US
dc.subject.jelD2en_US
dc.subject.jelL5en_US
dc.subject.jelQ4en_US
dc.subject.ddc330en_US
dc.subject.keywordefficiencyen_US
dc.subject.keywordstochastic non-smooth envelopment of data (StoNED)en_US
dc.subject.keyworddata envelopment analysis (DEA)en_US
dc.subject.keywordstochastic frontier analysis (SFA)en_US
dc.subject.keywordmonte carlo simulationen_US
dc.titleThe StoNED age: The departure into a new era of efficiency analysis? An MC study comparing StoNED and the "oldies" (SFA and DEA)en_US
dc.typeWorking Paperen_US
dc.identifier.ppn723879877en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cawmdp:60-
Appears in Collections:CAWM Discussion Papers, Universität Münster

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