Microfoundations for stochastic frontiers

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• 作者：Mike G. Tsionas ; ^a ; ^b ; ^{m.tsionas@lancaster.ac.uk}
• 关键词：Economics ; Stochastic frontier analysis ; Microfoundations ; Bayesian learning ; Learning-by-doing
• 刊名：European Journal of Operational Research
• 出版年：2017
• 出版时间：1 May 2017
• 年：2017
• 卷：258
• 期：3
• 页码：1165-1170
• 全文大小：773 K
• 卷排序：258

文摘

We provide microfoundations for stochastic frontier analysis. We revise previous work showing that a simple Bayesian learning model supports gamma distributions. The conclusion depends on problem formulation and assumptions about the sampling process and the prior. After a new formulation of the problem the distribution of one-sided error component does not belong to known family. More doubt is cast using expected utility of profit maximization.