International market selection using advanced data envelopment analysis

Selecting the best markets from a large number of different markets with varying levels of capability and potential is a complicated and time‐consuming task requiring multiple criteria decision‐making solution approaches. One of the uses of data envelopment analysis (DEA) is market selection. This paper proposes a new model for selecting the best markets. The proposed model is based on DEA and considers dual‐role factors, weight restrictions and imprecise data, simultaneously. This paper is the first study that applies advanced DEA models for selecting markets. The illustrative application addresses applicability of the proposed model.