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A generalisation of the Farrell cost efficiency measure applicable to non-fully competitive settings
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Camanho, A. S. and Dyson, R. G.. (2008) A generalisation of the Farrell cost efficiency measure applicable to non-fully competitive settings. Omega-International Journal of Management Science, Vol.36 (No.1). pp. 147-162. ISSN 0305-0483
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Official URL: http://dx.doi.org/10.1016/j.omega.2005.12.004
Abstract
This paper enhances cost efficiency measurement methods to account for situations where the input prices can depend on negotiation or tend to qualitatively differentiate the resources available at each decision making unit. In these circumstances, there are some shortcomings in the cost efficiency measure described in the data envelopment analysis (DEA) literature. This paper proposes new models and measures for cost efficiency evaluation that overcome the limitations of the existing DEA models. The applicability of the measures developed is illustrated in the context of the analysis of bank branch performance. (c) 2006 Elsevier Ltd. All rights reserved.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HA Statistics H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Faculty of Social Sciences > Warwick Business School > Operational Research & Management Sciences |
| Library of Congress Subject Headings (LCSH): | Data envelopment analysis, Cost effectiveness, Prices |
| Journal or Publication Title: | Omega-International Journal of Management Science |
| Publisher: | Pergamon-Elsevier Science Ltd |
| ISSN: | 0305-0483 |
| Date: | February 2008 |
| Volume: | Vol.36 |
| Number: | No.1 |
| Number of Pages: | 16 |
| Page Range: | pp. 147-162 |
| Identification Number: | 10.1016/j.omega.2005.12.004 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| References: | [1] Farrell MJ. The measurement of productive efficiency. Journal of the Royal Statistical Society, Serie A 1957;120:253–81. [2] Fare R, Grosskopf S, Lovell CAK. The measurement of efficiency of production. Dordrecht MA: Kluwer; 1985. [3] Cooper WW, Thompson RG, Thrall RM. Extensions and new developments in DEA. Annals of Operations Research 1996;66:3–45. [4] Tone K. A strange case of the cost and allocative efficiencies in DEA. Journal of the Operational Research Society 2002;53:1225–31. [5] Koopmans TC. Efficient allocation of resources. Econometrica 1951;19:455–65. [6] Kuosmanen T, Cherchye L, Sipilainen T. The law of one price in data envelopment analysis: restricting weight flexibility across firms. European Journal of Operational Research 2004, articles in press, available online. [7] Charnes A, Cooper WW, Rhodes E. Measuring the efficiency of decision making units. European Journal of Operational Research 1978;2:429–44. [8] Dyson RG, Allen R, Camanho AS, Podinovski VV, Sarrico CS, Shale EA. Pitfalls and protocols in DEA. European Journal of Operational Research 2001;132(2):245–59. [9] Banker RD, Charnes A, Cooper WW. Some models for estimating technical and scale inefficiencies in data envelopment analysis. Management Science 1984;30(9):1074–92. [10] Banker RD, Thrall RM. Estimation of returns to scale using data envelopment analysis. European Journal of Operational Research 1992;62:74–84. [11] Camanho AS, Dyson RG. Cost efficiency measurement with price uncertainty: a DEA application to bank branch assessments. European Journal of Operational Research 2005;161(2):432–46. |
| URI: | http://wrap.warwick.ac.uk/id/eprint/31304 |
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