Bayesian efficiency analysis with a flexible cost function

Gary Koop, Jacek Osiewalski and Mark Steel

DES - Working Papers. Statistics and Econometrics. WS from Universidad Carlos III de Madrid. Departamento de Estadística

Abstract: In this paper we describe the use of Gibbs sampling methods for drawing posterior inferences in a model with an asymptotically ideal price aggregator, non-constant returns to scale and composed error. An empirical example illustrates the sensitivity of efficiency measures to assumptions made about the functional form of the frontier.

Keywords: Asymptotically; ideal; model; Composed; error; Stochastic; frontiers; Gibbs; sampler; Metropolis; chain (search for similar items in EconPapers)
Date: 1993-03
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Persistent link: https://EconPapers.repec.org/RePEc:cte:wsrepe:3703

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