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Stochastic frontier models: a bayesian perspective

Stochastic frontier models. A Bayesian perspective
Authors: van den Broeck, Julien; Koop, G.; Osiewalski, J.; Steel, M.;

Stochastic frontier models: a bayesian perspective

Abstract

A Bayesian approach to estimation, prediction and model comparison in composed error production models is presented. A broad range of distributions on the inefficiency term define the contending models, which can either be treated separately or pooled. Posterior results are derived for the individual efficiencies as well as for the parameters, and the differences with the usual sampling-theory approach are highlighted. The required numerical integrations are handled by Monte Carlo methods with Importance Sampling, and an empirical example illustrates the procedures.

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Belgium
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Keywords

mixing of models, estimation, Composed error models, Bayesian inference, numerical integrations, Monte Carlo methods, Probabilistic methods, stochastic differential equations, prediction, Efficiency, Economía, importance sampling, Prior elicitation, efficiency, model comparison, Production frontier, Applications of statistics to economics, empirical example, prior elicitation, composed error production models

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
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