Charles, V and Cornillier, Fabien (2017) Value of the stochastic efficiency in data envelopment analysis. Expert Systems with Applications, 81. pp. 349-357. ISSN 0957-4174
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Abstract
This article examines the potential benefits of solving a stochastic DEA model over solving a deterministic DEA model. It demonstrates that wrong decisions could be made whenever a possible stochastic DEA problem is solved when the stochastic information is either unobserved or limited to a measure of central tendency. We propose two linear models: a semi-stochastic model where the inputs of the DMU of interest are treated as random while the inputs of the other DMUs are frozen at their expected values, and a stochastic model where the inputs of all of the DMUs are treated as random. These two models can be used with any empirical distribution in a Monte Carlo sampling approach. We also define the value of the stochastic efficiency (or semi-stochastic efficiency) and the expected value of the efficiency.
| Item Type: | Article |
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| Uncontrolled Keywords: | Data Envelopment Analysis; Stochastic; Input-Output Analysis; Performance/Productivity |
| Subjects: | H Social Sciences > HA Statistics H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management Q Science > QA Mathematics > QA75 Electronic computers. Computer science |
| Divisions: | School of Business > Management |
| Depositing User: | V. Charles Charles |
| Date Deposited: | 10 Apr 2017 14:11 |
| Last Modified: | 21 Nov 2019 14:30 |
| URI: | http://bear.buckingham.ac.uk/id/eprint/169 |
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