期刊
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
卷 273, 期 1, 页码 364-375出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2018.07.046
关键词
Data envelopment analysis; Cross-efficiency; Prospect theory; Risk attitude
资金
- National Natural Science Foundation of China [71671181]
Cross-efficiency evaluation in data envelopment analysis (DEA) is a useful tool in evaluating the performance of decision-making units (DMUs). It is generally assumed that decision makers (DMs) are completely rational in common cross-efficiency evaluation models, which fail to consider the DM's risk attitude that plays an important role in the evaluation process. To fill this gap, we investigate the cross-efficiency evaluation in DEA based on prospect theory. First, we introduce a prospect value of the DMU to capture the non-rational psychological aspects of a DM under risk. Second, based on the prospect value, we propose a new cross-efficiency model termed the prospect cross-efficiency (PCE) model. Particularly, some existing cross-efficiency evaluation models can be deemed as the special cases of the PCE model with suitable adjustments of the parameters. Furthermore, this paper provides an empirical example to evaluate cross-efficiency with several selected universities directly managed by the Ministry of Education of China to illustrate the effectiveness of the PCE model in ranking DMUs. (C) 2018 Elsevier B.V. All rights reserved.
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