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.
- Production economics
ASJC Scopus subject areas
- Computer Science(all)
- Modeling and Simulation
- Management Science and Operations Research
- Information Systems and Management