How can we make government more productive?

podcast

<div class="flex-shrink-0 flex flex-col relative items-end"><div><div class="pt-0"><div class="gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full"><div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><svg class="icon-md" width="41" height="41" viewBox="0 0 41 41" fill="none" xmlns="http://www.w3.org/2000/svg" role="img"><text x="-9999" y="-9999"></text><path d="M37.5324 16.8707C37.9808 15.5241 38.1363 14.0974 37.9886 12.6859C37.8409 11.2744 37.3934 9.91076 36.676 8.68622C35.6126 6.83404 33.9882 5.3676 32.0373 4.4985C30.0864 3.62941 27.9098 3.40259 25.8215 3.85078C24.8796 2.7893 23.7219 1.94125 22.4257 1.36341C21.1295 0.785575 19.7249 0.491269 18.3058 0.500197C16.1708 0.495044 14.0893 1.16803 12.3614 2.42214C10.6335 3.67624 9.34853 5.44666 8.6917 7.47815C7.30085 7.76286 5.98686 8.3414 4.8377 9.17505C3.68854 10.0087 2.73073 11.0782 2.02839 12.312C0.956464 14.1591 0.498905 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data-message-author-role="assistant" data-message-id="1583144b-b0e6-447e-84af-e4d9e5215ef5" dir="auto" data-message-model-slug="gpt-4o"><div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]"><div class="markdown prose w-full break-words dark:prose-invert dark"><p>How can the public sector do more with less? We explore productivity trends, government reform and lessons from private sector innovation.</p></div></div></div></div></div></div>

3 December 2024

Testing for the stochastic dominance efficiency of a given portfolio

Oliver Linton
Thierry Post
Yoon-Jae Whang

Published on 19 May 2014

The authors propose a new statistical test of the stochastic dominance efficiency of a given portfolio over a class of portfolios.

We propose a new statistical test of the stochastic dominance efficiency of a given portfolio over a class of portfolios. We establish its null and alternative asymptotic properties, and define a method for consistently estimating critical values. We present some numerical evidence that our tests work well in moderate-sized samples.