Generalized theory for measuring efficiency of individuals and groups

Valentin Zelenyuk and Valentyn Panchenko
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Valentyn Panchenko: University of New South Wales

Annals of Operations Research, 2024, vol. 332, issue 1, No 28, 806 pages

Abstract: Abstract We present a cohesive generalized framework for an aggregation of the Nerlovian profit indicators and of the directional distance functions, frequently used in productivity and efficiency analysis in operations research and econometrics (e.g., via data envelopment analysis or stochastic frontier analysis). Our theoretical framework allows for greater flexibility than previous approaches, and embraces many other approaches as special cases. In the proposed aggregation scheme, the aggregation weights are mathematically derived from assumptions made about the optimization behavior and about the chosen directions of measurement. We also discuss various interesting special cases of popular directions, including the case of Debreu-Farrell-type efficiency.

Keywords: Efficiency; Productivity; Aggregation; Data envelopment analysis (search for similar items in EconPapers)
JEL-codes: D24 O4 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10479-023-05599-6

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