This paper evaluates cost and scale efficiencies of Switzerland's regulated rural bus companies operating in regional networks. The adopted methodology can be used in benchmarking analyses applied to incentive regulation systems. Moreover, the estimations can be used to evaluate the bidding...

This paper applies a number of stochastic cost frontier models to a panel data set and compares their ability to distinguish unobserved heterogeneity from inefficiency variation among firms. The main focus is on Greene's 2005 panel data model that incorporates firm-specific effects in a...