Spatial statistical methods applied to the 2015 brazilian energy distribution benchmarking model: accounting for unobserved determinants of inefficiencies
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Universidade Federal de Minas Gerais
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Artigo de periódico
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Membros da banca
Resumo
In 2015 the Brazilian regulator presented a DEA benchmarking model to set the regulatory operational cost goals,
to be reached in four years for 61 electricity distribution utilities. The DEA model uses: adjusted operational cost
as the input variable, seven output variables and weight restrictions. Although non-discretionary variables or en vironmental variables are available in the dataset, the regulator argued that no statistically signicant correlation
was found between the DEA efciency scores and the non-discretionary variables. This study evaluates the sta tistical correlation between the DEA efciency scores and the available environmental variables. Spatial statistic
methods are used to show that the efciency scores are geographically correlated. Furthermore, due to Brazil's
environmental diversity and large territory it is unlikely that only one environmental component is sufcient
to adjust inefciencies across the Brazilian territory. Thus, a new combined environmental variable is proposed.
Finally, a second stage model using the proposed environmental variable and accounting for a spatial latent struc ture is presented. Results show major differences between original and corrected efciency scores, mainly for
utilities located in harsh environments and which originally achieved lower efciency scores
Abstract
Assunto
Energia
Palavras-chave
Data Envelopment Analysis, Second stage analysis, Spatial statistics, Bayesian analysis
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Endereço externo
http://www.sciencedirect.com/science/article/pii/S0140988317301160doi:10.1016/j.eneco.2017.04.009