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http://dx.doi.org/10.7232/iems.2014.13.2.210

DCBA-DEA: A Monte Carlo Simulation Optimization Approach for Predicting an Accurate Technical Efficiency in Stochastic Environment  

Qiang, Deng (School of Management, University Sains Malaysia)
Peng, Wong Wai (School of Management, University Sains Malaysia)
Publication Information
Industrial Engineering and Management Systems / v.13, no.2, 2014 , pp. 210-220 More about this Journal
Abstract
This article describes a 2-in-1 methodology utilizing simulation optimization technique and Data Envelopment Analysis in measuring an accurate efficiency score. Given the high level of stochastic data in real environment, a novel methodology known as Data Collection Budget Allocation-Data Envelopment Analysis (DCBA-DEA) is developed. An example of the method application is shown in banking institutions. In addition to the novel approach presented, this article provides a new insight to the application domain of efficiency measurement as well as the way one conducts efficiency study.
Keywords
Simulation Optimization; Data Envelopment Analysis (DEA); Data Collection Budget Allocation;
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Times Cited By KSCI : 3  (Citation Analysis)
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