In this paper, the maximum likelihood and the Bayesian methodologies are analysed and compared through a Monte Carlo study in the setting of half–normal stochastic frontier production models. In the Bayesian case, special emphasis i placed on the effect that the choice of the hyperparameter that determines the prior median efficiency has on the...
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February 21, 2019 (v1)PublicationUploaded on: March 25, 2023
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March 8, 2019 (v1)Publication
In this paper, the maximum likelihood and the Bayesian methodologies are analysed and compared through a Monte Carlo study in the setting of half–normal stochastic frontier production models. In the Bayesian case, special emphasis is placed on the effect that the choice of the hyperparameter that determines the prior median efficiency has on...
Uploaded on: December 4, 2022