This paper studies efficient risk-sharing rules for the concave dominance order. For a univariate risk, it follows from a comonotone dominance principle, due to Landsberger and Meilijson (1994) [27], that efficiency is characterized by a comonotonicity condition. The goal of the paper is to...

This paper studies efficient risk-sharing rules for the concave dominance order. For a univariate risk, it follows from a comonotone dominance principle, due to Landsberger and Meilijson (1994) [27], that efficiency is characterized by a comonotonicity condition. The goal of the paper is to...

This paper evaluates product efficiency in the Spanish automobile market. We use non parametric frontier techniques in order to estimate product efficiency scores for each model. These scores reflect the minimum price for which each car could be sold, given the bundle of tangible features it...

We discuss the nonparametric approach to profit efficiency analysis at the firm and industry levels in the absence of complete price information, and propose two new insights. First, choosing one commodity (whose price is known) as a numeraire good enables us to measure profit inefficiency in...

Due to the advancing economisation and the associated discussion on the distribution of public budgets and tax revenues, the efficiency of higher education institutions is increasingly coming into focus. Since the 2000s, more and more studies on the efficiency of German universities have been...

The European Emissions Trading Scheme for CO2 established in 2005 is the world's largest emissions trading scheme. Since it covers only some sectors of the European economies it can nevertheless not ensure that the Kyoto targets are reached at minimal cost. This paper first analyzes the...

German municipalities are expected to suffer from (often significant) population losses in the upcoming decades. We assess these local governments? vulnerability to the fiscal consequences of this demographic decline through two means (using a sample of 1021 municipalities in the state of...

This study investigates the effects of the provision of costly initiatives on policy efficiency in a laboratory experiment where a policy setter implements a status quo affecting the utility of the constituency. I vary treatments regarding the political institution (either purely representative...

This paper provides a systematic review of the literature that employs stochastic frontier analysis to measure the efficiency of higher education institutions. The overview opens with a look at the general development of the literature, before emphasis is laid on the methodical aspects. Focus is...

In research into higher education, the evaluation of completion and dropout rates has generated a steady stream of interest for decades. While most studies only calculate quotes using student and graduate numbers for both phenomena, we propose to also consider the budget available to...