Data envelopment analysis (DEA) is non-parametric linear programming (LP) based technique for estimating the relative efficiency of different decision making units (DMUs) assessing the homogeneous type of multiple-inputs and multiple-outputs. The procedure does not require a priori knowledge of weights, while the main concern of this non-parametric technique is to estimate the optimal weights o...

in this paper, the random walk hypothesis and the opec oil market efficiency have been examined. the random walk hypothesis states that prices are completely stochastic in nature so that they have 'no memory'. in its weak-form, changes in prices occur stochastically and, as a result, the random walk behavior of prices is usually used to test the weak-form efficiency. in order to study the rando...

this study examines the responsible energy consumption of listed european hotels. hotel efficiency is estimated using a stochastic frontier analysis (sfa) production function, with supplies costs as the input and total revenue as the output. cluster analysis is used to group the hotels into homogeneous groups according to their efficiency level, size, or profitability. the results show that the...

this study is conducted to measure the actual efficiency comparison of life insurance company between bangladesh and malaysia. total 15 life insurance companies’ were selected for the study where 10 conventional life insurance companies’ from bangladesh and 5 takaful lifeinsurance companies’ from malaysia. authors tried toindicate the problems and way to get exact solutions by using data envelo...

modern manufacturing enterprises are required to collaborate by their business partners through their business process operations such as design, manufacture, distribution, and aftersales services. and furthermore performance evaluation is of great importance for effective supply chain man agement. therefore, dea can help companies to remove some of the in efficiencies in operational processes ...

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...

In this paper, we model production technology in a state-contingent framework. We assume that all the firms use the same stochastic technology, but they may have different risk attitudes and information sets, and ex post they may operate in different production environments. Firms maximise ex ante their preference function subject to a stochastic technology constraint; in other words, they are ...

Literature on Cultural Economics gives us some examples about how to measure technical efficiency. But, to the best of our knowledge, there is a lack in the case of allocative efficiency analysis. The aim of this paper is to fill this gap incorporating to Cultural Economics a methodology that analyzes both technical and allocative efficiency. Concretely, we use a Shepard’s distance function whi...