This paper suggests an alternative to the standard practice of measuring the graduation rate performance using regression analysis. The alternative is production frontier analysis. Production frontier analysis is appealing because it compares an institutions graduation rate to the best...

In this paper we compare various efficiency measures by investigating the sets that are termed efficient.

A new approach is supplied for locating efficiency frontiers and evaluating the efficiency of Decision Making Units (DMU's). This is accomplished from observational data by means of an envelopment procedure called DEA (Data Envelopment Analysis) originally developed by Charnes, Cooper and Rhodes...

The portfolio is a collection of financial assets (CDs, bills, bonds, common stock) and real assets. The financial securities held in the portfolio are organized according to the investor's interests in categories, maturities, yield levels etc. Combining these financial instruments according to...

A model for measuring the efficiency of Decision Making Units (=DMU's) is presented, along with related methods of implementation and interpretation. The term DMU is intended to emphasize an orientation toward managed entities in the public and/or not-for-profit sectors. The proposed approach is...

This paper analyzes the estimation risk of efficient portfolio selection. We use the concept of certainty equivalent as the basis for a well-defined statistical loss function and a monetary measure to assess estimation risk. For given risk preferences we provide analytical results for different...

Nowadays, the most dominant characteristics of the financial environment are instability, variability, riskiness and uncertainty. It is difficult to find a field where the decision making process is risk-free. This statement is especially true in case of financial investments according to which...

This study presents the use of a whole farm model in a participatory modelling research approach to examine the sensitivity of four contrasting case study farms to a likely climate change scenario. The newly generated information was used to support discussions with the participating farmers in...

We study the efficiency of the Argentine banking service after a crisis in 2001-2002. The financial system started in practice from zero and recovered jointly with the economy, but its productivity and average cost levels are stagnated since 2007. The analysis encompasses efficiency frontiers of...

The market portfolio efficiency remains controversial. This paper develops a new test of portfolio mean-variance efficiency relying on the realistic assumption that all assets are risky. The test is based on the vertical distance of a portfolio from the efficient frontier. Monte Carlo...