Measuring production with random inputs and outputs using data envelopment analysis and certainty equivalent

Measuring production with random inputs and outputs using data envelopment analysis and certainty equivalent

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Article ID: iaor20001225
Country: Netherlands
Volume: 111
Issue: 1
Start Page Number: 62
End Page Number: 74
Publication Date: Nov 1998
Journal: European Journal of Operational Research
Authors: ,
Keywords: production
Abstract:

This study evaluates production operations with inputs/outputs under random influences. We introduce a measurement of efficiency using utility function families. Applying Data Envelopment Analysis (DEA) and the certainty equivalent, the proposed measurement is capable of accommodating various risk attitudes of evaluators.

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