Efficiency measurement of production operations under uncertainty

Efficiency measurement of production operations under uncertainty

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Article ID: iaor19952329
Country: Netherlands
Volume: 39
Issue: 1/2
Start Page Number: 55
End Page Number: 66
Publication Date: Apr 1995
Journal: International Journal of Production Economics
Authors: ,
Keywords: measurement
Abstract:

This paper focuses on the non-parametric efficiency measurement of production operations under uncertainties. The authors extend the existing data envelopment analysis method to deal with inputs and outputs subject to random disturbances. They propose a new approach to performance evaluation using certainty equivalence of utility functions, which can accommodate decision maker’s risk attitude. They also formulate appropriate models to implement these approaches.

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