Multiple Comparisons with the Best: Bayesian Precision Measures of Efficiency Rankings

Multiple Comparisons with the Best: Bayesian Precision Measures of Efficiency Rankings*

A large literature measures the allocative and technical efficiency of a set of firms using econometric techniques to estimate stochastic production frontiers or distance functions. Typically, researchers compute only the precision of individual efficiency rankings. Recently, Horrace and Schmidt (2000) have applied sampling theoretic statistical techniques known as multiple comparisons with a c...

Multiple Comparisons with the Best ROC Curve

The accuracy of a medical diagnostic tool depends on its specificity, the probability that it classifies a normal person as normal, and its sensitivity, the probability that it classifies a diseased person as diseased. The receiver operating characteristic (ROC) curve of such a tool is its sensitivity plotted against (1 specificity) as the threshold defining “normal” versus “diseased” ranges ov...

Multiple Comparisons with the Best, with Economic Applications

assessment of the efficiency of s.p.g.c refineries using network dea

data envelopment analysis (dea) is a powerful tool for measuring relative efficiency of organizational units referred to as decision making units (dmus). in most cases dmus have network structures with internal linking activities. traditional dea models, however, consider dmus as black boxes with no regard to their linking activities and therefore do not provide decision makers with the reasons...

Dynamic Bayesian Information Measures

This paper introduces measures of information for Bayesian analysis when the support of data distribution is truncated progressively. The focus is on the lifetime distributions where the support is truncated at the current age t>=0. Notions of uncertainty and information are presented and operationalized by Shannon entropy, Kullback-Leibler information, and mutual information. Dynamic updatings...