21 Pages Posted: 21 Mar 2011
Date Written: February 21, 2001
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: 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