Quasi-Bayesian Inference for Production Frontiers

Xiaobin Liu; Thomas Tao Yang; Yichong Zhang

doi:10.1080/07350015.2021.1927745

Quasi-Bayesian Inference for Production Frontiers

Xiaobin Liu, Thomas Tao Yang, Yichong Zhang^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

This article proposes to estimate and infer the production frontier by combining multiple first-stage extreme quantile estimates via the quasi-Bayesian method. We show the asymptotic properties of the proposed estimator and the validity of the inference procedure. The finite sample performance of our method is illustrated through simulations and an empirical application.

Original language	English
Pages (from-to)	1334-1345
Number of pages	12
Journal	Journal of Business and Economic Statistics
Volume	40
Issue number	3
DOIs	https://doi.org/10.1080/07350015.2021.1927745
Publication status	Published - 2022

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10.1080/07350015.2021.1927745

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title = "Quasi-Bayesian Inference for Production Frontiers",

abstract = "This article proposes to estimate and infer the production frontier by combining multiple first-stage extreme quantile estimates via the quasi-Bayesian method. We show the asymptotic properties of the proposed estimator and the validity of the inference procedure. The finite sample performance of our method is illustrated through simulations and an empirical application.",

keywords = "Approximate Bayesian computation, Extreme value theory, Fixed-k asymptotics",

author = "Xiaobin Liu and Yang, {Thomas Tao} and Yichong Zhang",

note = "Publisher Copyright: {\textcopyright} 2021 American Statistical Association.",

year = "2022",

doi = "10.1080/07350015.2021.1927745",

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AU - Liu, Xiaobin

AU - Yang, Thomas Tao

AU - Zhang, Yichong

PY - 2022

Y1 - 2022

N2 - This article proposes to estimate and infer the production frontier by combining multiple first-stage extreme quantile estimates via the quasi-Bayesian method. We show the asymptotic properties of the proposed estimator and the validity of the inference procedure. The finite sample performance of our method is illustrated through simulations and an empirical application.

AB - This article proposes to estimate and infer the production frontier by combining multiple first-stage extreme quantile estimates via the quasi-Bayesian method. We show the asymptotic properties of the proposed estimator and the validity of the inference procedure. The finite sample performance of our method is illustrated through simulations and an empirical application.

KW - Approximate Bayesian computation

KW - Extreme value theory

KW - Fixed-k asymptotics

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U2 - 10.1080/07350015.2021.1927745

DO - 10.1080/07350015.2021.1927745

M3 - Article

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VL - 40

SP - 1334

EP - 1345

JO - Journal of Business and Economic Statistics

JF - Journal of Business and Economic Statistics

IS - 3

ER -

Quasi-Bayesian Inference for Production Frontiers

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