Quadratic Data Envelopment Analysis
نویسنده
چکیده
Data Envelopment Analysis (DEA) provides means for piecewise linear approximation of production functions. To improve the fit to the data we propose to improve the flexibility of the frontier by extending DEA towards a more general piecewise quadratic approximation, called Quadratic Data Envelopment Analysis (QDEA). In contrast to the linear approximation, the quadratic approximation allows for economies of scale and of specialisation that violate the convexity postulate of DEA. Specifically, QDEA gives statistically consistent estimates for all production functions with bounded Hessian eigenvalues. In addition, Monte-Carlo simulations suggest that QDEA can substantially improve efficiency estimation in finite samples relative to standard DEA models.
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