Benchmark Selection: An Axiomatic Approach

21 Pages Posted: 21 Mar 2011  

Jens Leth Hougaard

University of Copenhagen - Department of Economics

Mich Tvede

University of Copenhagen - Department of Economics

Date Written: February 21, 2001

Abstract

Within a production theoretic framework, this paper considers an axiomatic approach to benchmark selection. It is shown that two simple and weak axioms: efficiency and comprehensive monotonicity characterize a natural family of benchmarks which typically becomes unique. Further axioms are added in order to obtain a unique selection.

Keywords: Benchmarking, Production Economics, Selection

JEL Classification: C6, D2, L2, M2

Suggested Citation

Hougaard, Jens Leth and Tvede, Mich, Benchmark Selection: An Axiomatic Approach (February 21, 2001). University of Copenhagen Dept. of Economics Discussion Paper No. 01-06. Available at SSRN: https://ssrn.com/abstract=1791724 or http://dx.doi.org/10.2139/ssrn.1791724

Jens Leth Hougaard

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5
Bygning 26
1353 Copenhagen K.
Denmark

Mich Palle Tvede (Contact Author)

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5
Bygning 26
1353 Copenhagen K.
Denmark
45 35 32 30 92 (Phone)
45 35 32 30 85 (Fax)

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