the markowitz’s optimization problem is considered as a standard quadratic programming problem that has exact mathematical solutions. considering real world limits and conditions, the portfolio optimization problem is a mixed quadratic and integer programming problem for which efficient algorithms do not exist. therefore, the use of meta-heuristic methods such as neural networks and evolutionar...

Data Envelopment Analysis (DEA) is a mathematical programming-based approach for evaluates the relative efficiency of a set of DMUs (Decision Making Units). The relative efficiency of a DMU is the result of comparing the inputs and outputs of the DMU and those of other DMUs in the PPS (Production Possibility Set). Also, in Data Envelopment Analysis various models have been developed in order to...

Policy makers make policy decisions, which affect the utility of private citizens. The traditional explanation for government intervention in the economy is the existence of market failure. Nevertheless, despite public policy interventions, the economy may fail to reach the efficient frontier. Hence, unless we suppose that efficient policies are not feasible (second and third best arguments), w...

In this paper we show the usefulness of recent advanced nonparametric efficiency techniques to model performance universities in presence observed and unobserved heterogeneity. Using directional distances for benchmarking purposes, identify a latent heterogeneity factor related human capital their management, that is independent from size, interpret identified as “quality” universities. After t...

In this paper, we consider the production possibility set with n production units such that the following four principles that governs: inclusion observations, conceivability, immensity and convexity. Our goal is to estimate the output of a same and new production unit with existing production possibility and amount of input is specified. So, initially we find the interval changes of each input...

data envelopment analysis (dea) with considering the best condition for each decision making unit (dmu) assesses the relative efficiency for it and divides a homogenous group of dmus in to two categories: efficient and inefficient, but traditional dea models can not rank efficient dmus. although some models were introduced for ranking efficient dmus, franklin lio & hsuan peng (2008), proposed a...

in a recent paper in this journal, yang et al. [feng yang, dexiang wu,liang liang, gongbing bi & desheng dash wu (2009), supply chaindea:production possibility set and performance evaluation model] definedtwo types of supply chain production possibility set which were proved to beequivalent to each other. they also proposed a new model for evaluatingsupply chains. there are, however, some short...

data envelopment analysis (dea) is one of the scientific method that computes the efficiency by using a powerful mathematics basic. data envelopment analysis is a non-parametric technique to evaluate the efficiency of a set of decision making units (dmu) with multi inputs and outputs . since dea’s models classifies decision making units into two categories of efficient and inefficient, so most ...

the law is important on point of law and economic movement. in fact, one of the production in the field of fiction markets is law and regulations. in the literature of law and economic, there is different between two laws. means that , we ought to distinguish between efficient and inefficient laws. so, there are some characteristics relation to efficient laws. this characterics are effect in th...

in competitive markets, the operations strategies of companies are normally formulated based on their competitive advantages. an effective operations strategy should maintain and improve competitive advantages based on the capabilities of the corporate operations resources. considering the market requirements and the operational performance of the rivals is the key for success and survival of a...