In this paper imprecise target models has been proposed to investigate the relation between imprecise data envelopment analysis (IDEA) and mini-max reference point formulations. Through these models, the decision makers' preferences are involved in interactive trade-off analysis procedures in multiple objective linear programming with imprecise data. In addition, the gradient projection type...

Over sixty years ago, Markowitz introduced the mean-variance efficient frontier to finance. While mean-variance is still the predominant model in portfolio selection, it has endured many criticisms. One serious one is that it does not allow for additional criteria. The difficulty is that the efficient frontier becomes a surface. With it now possible to compute such a surface, we provide an over...

Frontier-based exploration is the most common approach to exploration, a fundamental problem in robotics. In frontierbased exploration, robots explore by repeatedly detecting (and moving towards) frontiers, the segments which separate the known regions from those unknown. A frontier detection sub-process examines map and/or sensor readings to identify frontiers for exploration. However, most fr...

Estimating the NIH Efficient Frontier: Supporting Information Dimitrios Bisias, Andrew W. Lo, James F. Watkins 1 MIT Sloan School of Management, 100 Main Street Cambridge, MA 02142, USA 2 MIT CSAIL and EECS, 32 Vassar Street Cambridge, MA 02139, USA 3 AlphaSimplex Group, LLC, 1 Cambridge Center, Cambridge, MA 02142, USA 4 Department of Surgery, Brigham and Women’s Hospital and Harvard Medical S...

This paper proposes a methodology to examine economies of scope using the recent order-α nonparametric method. It allows us to investigate economies of scope by comparing the efficient order-α frontiers of firms that produce two or more goods with the efficient order-α frontiers of firms that produce only one good. To accomplish this, and because the order-α frontiers are irregular, we suggest ...

Radial projection is a standard technique applied in Data Envelopment Analysis (DEA) to calculate efficiency scores for input and/or output variables. In this paper, we have studied the appropriateness of radial projection for target setting. We have created a situation where the Decision Making Units (DMUs) are free to choose their own target values on the efficient frontier and then compared ...

C onservationists must make hard choices about where to invest limited resources for the protection of biological diversity. Numerous prioritization schemes have identified places where biodiversity is especially rich or risks are especially urgent (1). Application of return on investment (ROI) thinking promises to make conservation investments much more efficient by explicitly incorporating ec...

We consider the case of production units arranged into a number of groups. All units within a group choose output-input combinations from the same production possibilities set, which is represented by a stochastic frontier model. The metafrontier is the envelope (over groups) of the group-specific frontiers. We are interested in the unit’s inefficiency relative to its group-specific frontier, b...

In panel stochastic frontier models, the Fixed Effects (FE) approach produces biased technical efficiency scores when time-invariant variables are important in the production process, and the Random Effects (RE) approach imposes distributional assumptions about the inefficiency. Moreover, technical efficiency scores obtained from these models are biased when the sample contains a large number o...

The ability of determining all defining hyperplanes of DEA production possibility set (efficient frontier) prior to the DEA computations is of extreme importance. Specially, access to efficient frontier permits a complete analysis (e.g. calculation of efficiency scores, returns to scale, sensitivity analysis and so on) in second phase for the corresponding model. This paper presents a linear sy...