The constant returns to scale assumption maintained by neoclassical theorists for justifying the black-box structure of production technology in long run does not necessarily allow one to infer that there are no scale benefits available in its sub-technologies. Most of real-life production...

Traditional DEA models deal with measurements of relative efficiency of DMUs regarding multiple-inputs vs. multiple-outputs. One of the drawbacks of these models is the neglect of intermediate products or linking activities. After pointing out needs for inclusion of them in DEA models, we...

Liberalization of the electric power industry has been underway in various countries. Under this situation, it is necessary for electric power companies to improve their management efficiency in order to survive in a competitive market. This study examines management efficiency of vertically...