This paper develops an option-theoretic model of a retail lease. The standard retail lease contains provisions for a security deposit, a base rent, and a percentage rent or a sharing between landlord and tenant of rent revenue above a preset sales threshold or break point level. The findings...

This paper was inspired by the Coase (1937) theory of the firm. The purpose of this paper is to show the applicability of data envelopment analysis (DEA) in arriving at an unbiased account of relative performance of a set of companies, using the pharmaceutical industry as an example. A DEA based...

The traditional data envelopment analysis (DEA) models assess equity market performance using the risk and return factor values associated only with the assessed equity market. However, in DEA models, the risk and return factors may be valued differently for different equity markets. A measure...

This paper analyses the performances of 22 developed and 18 emerging markets over the period 2003–2010. The performance is assessed each year in a multi-dimensional risk-adjusted return framework using data envelopment analysis, and the trend in the performance is estimated in a fixed effects...

Applications of the DEA models show that inadequate results may arise in some cases, two of these inadequacies being: a) too many efficient units may appear in some DEA models; b) a DEA model may show an inefficient unit from the point of view of experts as an efficient one. The purpose of this...

There are some specific features of the non-radial DEA (data envelopment analysis) models which cause some problems under the returns to scale measurement. In the scientific literature on DEA, some methods were suggested to deal with the returns to scale measurement in the non-radial DEA models....

Applications of the DEA models show that inadequate results may arise in some cases, two of these inadequacies being: a) too many efficient units may appear in some DEA models; b) a DEA model may show an inefficient unit from the point of view of experts as an efficient one. The purpose of this...

A technique used to assess relative performance in a multiple input–output framework is data envelopment analysis (DEA). In basic DEA models, an entity may show its best performance by selecting input and output factor weights different from those selected by the other entities in the sample....

DEA (Data Envelopment Analysis) models are usually used to find the relative efficiency among homogenous units according to selected criteria (inputs and outputs). Homogenous units are the units (companies, institutions, states) that produce equivalent outputs via using the same inputs but with...

Abstract This article presents a novel combination of robust optimization developed in mathematical programming, and robust parameter design developed in statistical quality control. Robust parameter design uses metamodels estimated from experiments with both controllable and environmental...