Data Envelopment Analysis in a Stochastic Setting: The right answer from the wrong model?

Dieter Gstach ()

No 29, Department of Economics Working Paper Series from WU Vienna University of Economics and Business

Abstract: Data envelopment analysis (DEA) is compared to stochastic production function estimation (SPFE) in a noisy setting. The statistic of interest is the average efficiency estimator. Monte-Carlo simulations show that the mean squared error of the DEA-estimator even for considerable noise remains below the MSE of the SPFE analogue. A bootstrapping approach is designed to get some first-step statistical underpinning of this DEA average efficiency estimator. The coverage of the bootstrapping approximation to the distribution of this estimator is shown to be fairly good.

Date: 1994-08
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