Cross-efficiency analysis in DEA generally uses a two-stage procedure: first, optimize a DMU’s individual efficiency score; next, push the efficiencies of all DMUs in a desired direction. In order to reduce subjective judgement in the second step, we provide a cross-efficiency method using only...

This paper extends maximum entropy estimation of discrete probabilitydistributions to the continuous case. This transition leads to a nonparametricestimation of a probability density function, preserving the maximumentropy principle. Furthermore, the derived density estimate providesa minimum...

Bayes-Nets are a suitable means for probabilistic inference. Such nets are very restricted concerning the communicationlanguage with the user, however. MinREnt-inference in a conditional environment is a powerfulcounterpart to this concept. Here conditional expressions of high complexity instead...

Information is a precious resource when solving decision problemsunder uncertainty. The paper deals with the estimation of the value of informationunder different rationality concepts of the decision maker. The value of informationand the expected value of (un)certain information will be...

In this contribution the frequently meaningless statementsin the relevant economy literature, about what is knowledge and whatis information, are overcome going back to the roots of information andcommunication theory. Information and entropy are defined preciselyand then the theoretical concept...

Information is indispensable in preparing economic decisionspurposefully. In this paper knowledge is representedby a probability distribution. Knowledge acquisitionis realized by the principle of maximum entropywhich guarantees an unsophisticated expansion ofknowledge and provides an unbiased...