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Strong, weak and Farrell efficient frontiers of technologies satisfying different production assumptions

journal contribution
posted on 15.01.2021, 12:34 by Mahmood Mehdiloo, Victor Podinovski
The literature on data envelopment analysis (DEA) and, more broadly, production theory employs different notions of efficiency for the characterization of boundary points of production technologies. These include the strong and weak (Pareto) efficiency, and the Farrell input and output efficiency. For the conventional constant and variable returns-to-scale technologies, the relationship between the different notions of efficiency has been explored in the literature and is well understood now. In this paper we show that, in the general case, which includes many recently developed technologies, the conventional relationship between the different notions of efficiency is no longer valid. We show that such relationship depends on the properties of a particular technology such as convexity, disposability and returns-to-scale characteristics. Our results are applicable to many new technologies for which the different notions of efficiency and methods of their testing have not been fully explored.

History

School

  • Business and Economics

Department

  • Business

Published in

European Journal of Operational Research

Volume

294

Issue

1

Pages

295-311

Publisher

Elsevier

Version

AM (Accepted Manuscript)

Rights holder

© Elsevier

Publisher statement

This paper was accepted for publication in the journal European Journal of Operational Research and the definitive published version is available at https://doi.org/10.1016/j.ejor.2021.01.022.

Acceptance date

13/01/2021

Publication date

2021-01-21

Copyright date

2021

ISSN

0377-2217

Language

en

Depositor

Prof Victor Podinovski. Deposit date: 14 January 2021