The public sector squeeze -- Zeroing in on outcomes -- Why is it so hard to measure public value? -- Defining value -- Measuring and analyzing public service value -- Driving results -- The key to unlocking public value

This paper introduces new nonparametric statistical methods to evaluate zero-cost investment strategies. We focus on directional trading strategies, risk-adjusted returns, and the investor's decisions under uncertainty as the core of our analysis. By relying on classification tools with a long...