The need for monitoring countries’ overall performance in Sustainable Development (SD) is widely recognized, but the methods for aggregating vast amounts of empirical data remain rather crude. This paper examines the so-called ‘benefit-of-the-doubt’ weighting method as a tool for...

We introduce the concept of cross-sectional heterogeneity (and homogeneity) of equity markets. From period to period, the stocks in a market may move more or less ‘in line’. When stock prices move perfectly in line, we use the term ‘homogeneous market’. When the stock price developments...

In this paper we offer a simple exposition of the neoclassical production theoretic foundations of Data Envelopment Analysis. The concepts of technical efficiency (both input- and output-oriented), scale efficiency, and cost efficiency are explained and the corresponding DEA models are described...

Investors assign part of their funds to asset managers that are given the task of beating a benchmark. The risk management department usually imposes a maximum value of the tracking error volatility (TEV) in order to keep the risk of the portfolio near to that of the selected benchmark. However,...

The notion of plan coordination enjoys a central place in the analysis of institutions and competitive market processes. The conventional wisdom is that institutions and policies vary in the extent to which they promote competition and how quickly and completely they bring individuals’ plans...

After the micro politics, the complexity of the “public management”, polity and policies, is the same of the “private management” or the management of the others sectors of the social production reality. The science of management it is not defined by products, functions, sectors and so...