A novel common set of weights method for multi-period efficiency measurement using mean-variance criteria

Seyed Hossein Razavi Hajiagha, Hannan Amoozad Mahdiraji, Madjid Tavana, Shide Sadat Hashemi

Research output: Contribution to journalArticle

7 Citations (Scopus)
5 Downloads (Pure)

Abstract

Data envelopment analysis (DEA) is a popular method for evaluating a set of homogeneous decision-making units (DMUs). One of the main shortcomings of DEA is the weights flexibility where each unit can take its desirable weights. Several methods have been developed for finding a common set of weights (CSWs) and overcoming this drawback. The CSWs methods are used to evaluate the relative efficiency of the DMUs in a single time-period. However, single period DEA models cannot handle organizational units performing in a continuum of time. We propose a novel method for determining the CSWs in a multi-period DEA. Initially, the CSWs problem is formulated as a multi-objective fractional programming problem. Subsequently, a multi-period form of the problem is formulated and the mean efficiency of the DMUs is maximized while their efficiency variances is minimized. A fuzzy set-based approach is used to solve the multi-period CSWs problem. We present a real-world case study to demonstrate applicability and exhibit the efficacy of the proposed method. The results indicate a significant improvement in the discrimination power of the proposed multi-period method.
Original languageEnglish
Pages (from-to)569-581
Number of pages13
JournalMeasurement
Volume129
Early online date24 Jul 2018
DOIs
Publication statusPublished - Dec 2018
Externally publishedYes

Bibliographical note

NOTICE: this is the author’s version of a work that was accepted for publication in Measurement. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Measurement, Vol. 129 (2018) DOI: 10.1016/j.measurement.2018.07.061

Keywords

  • Data envelopment analysis
  • Common set of weights
  • Multi-period efficiency
  • Mean-variance criteria
  • Fuzzy logic

Fingerprint Dive into the research topics of 'A novel common set of weights method for multi-period efficiency measurement using mean-variance criteria'. Together they form a unique fingerprint.

  • Cite this