Data Envelopment Analysis and Axiomatic Notions of Efficiency and Reference Sets.
TEXAS UNIV AT AUSTIN CENTER FOR CYBERNETIC STUDIES
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Serious mathematical and computational errors and misstatements culminating in erroneous characterizations of Data Envelopment Analysis DEA models and methods and their relationship to the axiomatic production models of Shepard type by Fare, Hunsaker and others are corrected together with new exposition and contrast of current DEA methodology with the Shepard axiomatic modelling types. The stochastic base of DEA is shown to be uncertainty, not risk. A new computationally effective extended additive EA model is developed to handle processes with input thresholds and output ceilings and thereby not subsumable under Shepard axiomatics. Keywords CCR Ratio model Multi-objective programming.
- Operations Research