Benchmark selection: An axiomatic approach

Benchmark selection: An axiomatic approach

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Article ID: iaor20022842
Country: Netherlands
Volume: 137
Issue: 1
Start Page Number: 218
End Page Number: 228
Publication Date: Feb 2002
Journal: European Journal of Operational Research
Authors: ,
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.

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