Search

This paper explores robust unconditional and conditional nonparametric approaches to support performance evaluation in problematic samples. Real-world assessments often face critical problems regarding available data, as samples may be relatively small, with high variability in the magnitude of the observed indicators and contextual conditions. This paper explores the possibility of mitigating the impact of potential outlier observations and variability in small samples using a robust nonparametric approach. This approach has the advantage of avoiding unnecessary loss of relevant information, retaining all the decision-making units of the original sample. We devote particular attention to identifying peers and targets in the robust nonparametric approach to guide improvements for underperforming units. The results are compared with a traditional deterministic approach to highlight the proposed method's benefits for problematic samples. This framework's applicability in internal benchmarking studies is illustrated with a case study within the wastewater treatment industry in Portugal. [ABSTRACT FROM AUTHOR]

In this paper, we analyze the temporal dependence in energy prices and demand using daily data of Portugal and Spain over the period 2007–2017. The methodology used is based on a stochastic Hidden Markov Model and the results indicate first that all significant relationships between energy prices and demands were found to be positive; second, spot prices are only time dependent on future prices and spot energy, while future energy is solely time dependent on spot energy behavior; third, future prices are not only autocorrelated but also time-dependent with spot energy and future energy demands level; and finally, spot energy is autocorrelated and time-dependent with future prices and future energy. Policy implications of the results obtained are presented at the end of the article. [ABSTRACT FROM AUTHOR]