
Benchmarking
Author(s) -
Chambers Christopher P.,
Miller Alan D.
Publication year - 2018
Publication title -
theoretical economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.404
H-Index - 32
eISSN - 1555-7561
pISSN - 1933-6837
DOI - 10.3982/te2506
Subject(s) - benchmarking , axiom , benchmark (surveying) , normative , context (archaeology) , computer science , transitive relation , mathematical economics , ranking (information retrieval) , monotonic function , economics , mathematics , artificial intelligence , epistemology , management , combinatorics , paleontology , mathematical analysis , philosophy , geometry , geodesy , biology , geography
We investigate a normative theory of incomplete preferences in the context of preliminary screening procedures. We introduce a theory of ranking in the presence of objectively incomparable marginal contributions (apples and oranges). Our theory recommends benchmarking , a method under which an individual is deemed more accomplished than another if and only if she has achieved more benchmarks, or important accomplishments. We show that benchmark rules are characterized by four axioms: transitivity, monotonicity, incomparability of marginal gains, and incomparability of marginal losses.