A generalisation of the Farrell cost efficiency measure applicable to non-fully competitive settings

A generalisation of the Farrell cost efficiency measure applicable to non-fully competitive settings

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Article ID: iaor2009718
Country: United Kingdom
Volume: 36
Issue: 1
Start Page Number: 147
End Page Number: 162
Publication Date: Feb 2008
Journal: OMEGA
Authors: ,
Abstract:

This paper enhances cost efficiency measurement methods to account for situations where the input prices can depend on negotiation or tend to qualitatively differentiate the resources available at each decision making unit. In these circumstances, there are some shortcomings in the cost efficiency measure described in the data envelopment analysis (DEA) literature. This paper proposes new models and measures for cost efficiency evaluation that overcome the limitations of the existing DEA models.

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