This paper uncovers the“mysterious veil”above the formulations and concerned properties of existing weighted additive data envelopment analysis (WADD) models associated with dataset standardization techniques. Based on the truth that the formulation of objective functions in WADD models...

Center for China Study, Tsinghua University, Beijing 100084, China; Department of Economics, Geborg University, Sweden

Discounted Cash Flow techniques are the generally accepted methods for valuing firms. Such methods do not provide explicit acknowledgment of the value determinants and overlook their interrelations. This paper proposes a different method of firm valuation based on fuzzy logic and expert systems....

The field of production frontier estimation is divided between the parametric Stochastic Frontier Analysis (SFA) and the deterministic, nonparametric Data Envelopment Analysis (DEA). This paper explores an amalgam of DEA and SFA that melds a nonparametric frontier with a stochastic composite...

Super-efficiency data envelopment analysis (SE-DEA) models are expressions of the traditional DEA models featuring the exclusion of the unit under evaluation from the reference set. The SE-DEA models have been applied in various cases such as sensitivity and stability analysis, measurement of...

There is increasing deployment of machine learning algorithms by financial institutions during and after the coronavirus pandemic. However, majority of these models are being implemented for credit risk management, anti-fraud and anti-money laundering use cases. Moreover, previous research and...

The super-efficiency (SE) model is identical to the standard model, except that the unit under evaluation is excluded from the reference set. This model has been used in ranking efficient units, identifying outliers, sensitivity and stability analysis, measuring productivity changes, and solving...

Since Lėon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the economic system, which remains to this day unobservable. Yet that belief is the corner stone of other theories such as the ‘Efficient Market Hypothesis’ as well as the philosophy...

Focusing in particular on upper secondary education, this paper examines whether the relatively high level of expenditure on education in the Nordic countries is matched by high output from the educational sector, both in terms of student enrolment and indicators of output quality in the form of...