Traditional DEA models and nonlinear (diversification) DEA models are often used in performance evaluation of portfolios. However, the diversification models are usually very complicated to compute except the very basic models. And the classic DEA models still need to be further justified and...

We present evidence on productivity improvement experienced by the research institutes of the Chinese Academy of Sciences (CAS) after its implementation of the Knowledge Innovation Program (KIP). Using a balanced panel of data on R&D inputs and outputs of 59 research institutes in CAS, we...

Recent studies on decision analytics frequently refer to the topic of behavioral decision making (BDM), which focuses on behavioral components of decision analytics. This paper provides a critical review of literature for re-examining the relations between BDM and classical decision theories in...

It is well known that the discrimination power of data envelopment analysis (DEA) models will be much weakened if too many input or output indicators are used. It is a dilemma if decision makers wish to select comprehensive indicators, which often have some hierarchical structures, to present a...

We present a sufficient and necessary condition for the convergence of stochastic approximation algorithms, which were proposed 50 years ago, have been widely applied to various areas and intensively investigated in theory. In the literature, only various sufficient conditions are known. The...