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| Author: | Joro, T. Korhonen, P. Zionts, S. |
| Title: | An interactive approach to improve estimates of value efficiency in data development analysis |
| Journal: | European Journal of Operational Research
2003 : SEP, VOL. 149:3, p. 688-699 |
| Index terms: | Economic efficiency Linear programming Data envelopment analysis Multiple criteria decision making Value analysis |
| Freeterms: | Value efficiency |
| Language: | eng |
| Abstract: | Management sience (45(1)(1999) 103 presents an approach for incorporating preference information in data envelopment analysis (DEA). In that paper value efficiency, an extension of the concept of efficiency in DEA is developed. The paper presents an approach to estimate lower bounds for the value efficiency score - efficiency measures that reflect the decision-maker's (DM's) preferences. In this paper, the authors develop some related concepts, and present two refinements: (1) Some bounds on the value efficiency scores that may be obtained without any DM involvement; and (2) A way of precisely measuring value efficiency scores with minimal DM involvement. The approach can also be used to explore whether certain underlying assumptions are met. |
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