On the Interpretation of Value Efficiency

Pekka Korhonen and Mikko Syrjänen ()

Journal of Productivity Analysis, 2005, vol. 24, issue 2, 197-201

Abstract: Halme et al., Management Science, 45, 103–115 (1999) have proposed Value Efficiency Analysis as an approach to incorporate preference information in Data Envelopment Analysis (DEA). Generally, a value function includes only ordinal information and thus a value efficiency score does not provide information on the value difference. The score only describes the improvements in the input/output values that are needed in order to make the Decision-Making Unit (DMU) as preferred as the Most Preferred Solution (MPS). This Paper discusses two sets of additional assumptions that enable us to give the efficiency score a value difference interpretation. Copyright Springer Science+Business Media, Inc. 2005

Keywords: data envelopment analysis; directional distance function; value function (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s11123-005-4704-2

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