DEA and Time Substitution

Rolf Färe, Shawna Grosskopf and Dimitris Margaritis

Chapter 5 in Advances in Data Envelopment Analysis, 2015, pp 69-86 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter addresses a single DEA topic, time substitution. This topic is the study of how to allocate resources in time, with the two options (i) determine when to apply inputs and (ii) how long, i.e., in how many periods should inputs be used. These options allow the decision maker to determine when to start production and for how long to produce. The topic was initiated by Shephard and Färe (1980) in connection with ship building, refined by Färe and Grosskopf (1996), and finally given a DEA formulation by Färe, Grosskopf, and Margaritis (2010). Their results are presented and generalized here.After an introductory theoretical presentation we devote the rest of the chapter to an empirical application examining the Pact for Stability and Growth adopted by the countries comprising the single currency Euro zone.

Keywords: Optimization Techniques; Multifactor Productivity; Intertemporal Firm Choice; Technological Change: Choices and Consequences; Diffusion Processes; Data Envelopment Analysis; Operations Research (search for similar items in EconPapers)
Date: 2015
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