Greco, Salvatore and Ishizaka, Alessio and Tasiou, Menelaos and Torrisi, Gianpiero (2018): σµ efficiency analysis: A new methodology for evaluating units through composite indices.
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Abstract
We propose a new methodology to employ composite indicators for performance analysis of units of interest using and extending the family of Stochastic Multiattribute Acceptability Analysis. We start evaluating each unit by means of weighted sums of their elementary indicators in the whole set of admissible weights. For each unit, we compute the mean, �, and the standard deviation, �, of its evaluations. Clearly, the former has to be maximized, while the latter has to be minimized as it denotes instability in the evaluations with respect to the variability of weights. We consider a unit to be ParetoKoopmans efficient with respect to � and � if there is no convex combination of � and � of the rest of the units with a value of � that is not smaller, and a value of � that is not greater, with at least one strict inequality. The set of all ParetoKoopmans efficient units constitutes the first ParetoKoopmans frontier. In the spirit of contextdependent Data Envelopment Analysis, we assign each unit to one of the sequences of ParetoKoopmans frontiers. We measure the local efficiency of each unit with respect to each frontier, but also its global efficiency taking into account all feasible frontiers in the �
Item Type:  MPRA Paper 

Original Title:  σµ efficiency analysis: A new methodology for evaluating units through composite indices 
Language:  English 
Keywords:  Data Envelopment Analysis � Composite Indicators � SigmaMu efficiency � Stochastic Multiattribute Acceptability Analysis � neoBenthamite approach. 
Subjects:  C  Mathematical and Quantitative Methods > C4  Econometric and Statistical Methods: Special Topics > C43  Index Numbers and Aggregation C  Mathematical and Quantitative Methods > C4  Econometric and Statistical Methods: Special Topics > C44  Operations Research ; Statistical Decision Theory I  Health, Education, and Welfare > I3  Welfare, WellBeing, and Poverty > I31  General Welfare, WellBeing 
Item ID:  88231 
Depositing User:  Gianpiero Torrisi 
Date Deposited:  06 Aug 2018 19:54 
Last Modified:  06 Aug 2018 19:54 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/88231 
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σµ efficiency analysis: A new methodology for evaluating units through composite indices. (deposited 02 Jan 2018 23:06)
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