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dc.contributor.authorAndor, Marken
dc.contributor.authorHesse, Frederiken
dc.date.accessioned2012-09-05-
dc.date.accessioned2012-09-06T12:43:16Z-
dc.date.available2012-09-06T12:43:16Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aWestfälische Wilhelms-Universität Münster, Centrum für Angewandte Wirtschaftsforschung (CAWM) |cMünsteren
dc.relation.ispartofseries|aCAWM Discussion Paper |x60en
dc.subject.jelC1en
dc.subject.jelC5en
dc.subject.jelD2en
dc.subject.jelL5en
dc.subject.jelQ4en
dc.subject.ddc330en
dc.subject.keywordefficiencyen
dc.subject.keywordstochastic non-smooth envelopment of data (StoNED)en
dc.subject.keyworddata envelopment analysis (DEA)en
dc.subject.keywordstochastic frontier analysis (SFA)en
dc.subject.keywordmonte carlo simulationen
dc.titleThe StoNED age: The departure into a new era of efficiency analysis? An MC study comparing StoNED and the "oldies" (SFA and DEA)-
dc.typeWorking Paperen
dc.identifier.ppn723879877en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cawmdp:60en

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