ROBUSTNESS OF NON-PARAMETRIC MEASUREMENT OF EFFICIENCY AND RISK AVERSION

This paper examines the performance of a risk-adjusted non-parametric approach to measuring efficiency and risk aversion. Prior work is extended to the case where agent behavior is motivated by expected utility maximization. Results indicate the approach significantly outperforms traditional efficiency measurement methods when applied to risk averse agents.


Issue Date:
2002
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/19765
Total Pages:
24
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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