Warum fällt es uns so schwer, Geld fürs Alter zurückzulegen, obwohl dies vernünftig wäre? Warum essen wir zu viel fettige Speisen, obwohl wir wissen, dass es uns schadet? Warum sind unsere Neujahrsvorsätze fast immer zum Scheitern verurteilt? Nobelpreisträger Richard Thaler hat als erster...

We develop a series of novel conceptual tools to systematically account for errors-in-variables in Data Envelopment Analysis (DEA). These tools allow for statistical inference while requiring minimal statistical distribution assumptions, and therefore constitute a valuable addition to the tools...

The literature on non-parametric production analysis has formulated tests for profit maximizing behavior that do not require a parametric specification of technology. Negative test results have conventionally been interpreted as inefficiency, or have been attributed to data perturbations. In...

The axiomatic literature on technical efficiency measurement has drawn attention to the indication problem of the Debreu-Farrell (DF) measure. We follow a shadow price approach to preserve the DF benchmark while reconciling it with the Koopmans efficiency characterization. First, we define a set...

The literature on non-parametric production analysis has formulated tests for profit maximizing behavior that do not require a parametric specification of technology. Negative test results have conventionally been interpreted as inefficiency, or have been attributed to data perturbations. In...