The paper considers a nonparametric approach to determine portfolio efficiency using specific directions toward the portfolio frontier function. This approach allows for a straightforward incorporation of higher moments of the returns distribution beyond mean and variance. The nonparametric...

As the Argentinean grapevine production systems have gained global visibility, the wine industry has been revitalized with a greater focus on enological quality, technology adoption, and export orientation. Although grapevine production has decreased 36% in a decade nationwide, the province of...

Bank efficiency scores usually serve as a tool for comparing institutions with each other while allowing us to quantify sub-optimal decision-making unit choices. In the case of inter-country comparisons, such differences can also arise because of macro-economic heterogeneity between countries....

The application of the human capital theory, the production theory, and the comparison of costs between teaching and non-teaching hospitals all point to the difficulties in identifying whether medical residents should be considered as inputs or outputs. We add to the debate by using a...