Attempts can be found in the DEA literature to identify returns to scale at efficient interior points of the production possibility set on the basis of returns to scale at points of the corresponding reference sets. However, an opposite approach is put forward in this paper, advocating that...

Measuring productive efficiency is an important research strand within fields of economics, management science and operations research. One definition of efficiency is the proportional scaling needed for observations of an inefficient unit to be projected onto an efficient production function...

In standard microeconomic theory, short-run and long-run marginal costs are equal for production equipment with adjusted capacity. When the production of joint products from interdependent equipment is modeled with a linear program, this equality is no longer verified. The short-run marginal...

In der Aussenhandelstheorie wird das Angebot und die Nachfrage mit Hilfe der Dualitaetstheorie abgebildet. Dabei wird auf nationaler Ebene das Problem der Erloesmaximierung untersucht, wobei die nationalen Faktorbestaende und die Produktionstechnologien der einzelnen Unternehmen gegeben sind....

This article presents a new approach for building robust portfolios based on stochastic efficiency analysis and periods of market downturn. The empirical analysis is done on assets traded on the Brazil Stock Exchange, B3 (Brasil, Bolsa, Balcão). We start with information on the assets from...

Adoption of feasible location science is gaining more interest in the field of Facility Layout Design (FLD) problems among working researchers group. Many methods such as MCDM, Heuristics and Intelligent approaches are available to solve the FLD problems. However in reality, finding the feasible...

Conventional data envelopment analysis (DEA) for measuring the relative efficiency of a set of decision-making units (DMUs) requires the observations to have precise values. When observations are imprecise and represented by interval values, the efficiencies are also expected to reflect interval...

We apply duality methods of linear and convex programming to the problems of operation and rental valuation of facilities for conversion and storage of cyclically priced goods, e.g. , energy. Both problems are approached by shadow-pricing the stock (which is a purely intermediate commodity); and...

The purpose of this note is to discuss the envelope relationship between long run and short run cost functions. It compares the usually presented relationship with one of different form and implications, resulting from a simple production function and constant prices. It points out in particular...