EURO-Online login
- New to EURO? Create an account
- I forgot my username and/or my password.
- Help with cookies
(important for IE8 users)
216. A hybrid bi-level DEA model under uncertainty conditions
Invited abstract in session MC-48: DEA and stochastic models, stream Data Envelopment Analysis and its Application.
Monday, 12:30-14:00Room: 60 (building: 324)
Authors (first author is the speaker)
| 1. | Eleni-Maria Vretta
|
| 2. | Andreas Georgiou
|
| Quantitative Methods and Decision Analysis Lab, Dpt of Business Administration, University of Macedonia | |
| 3. | Konstantinos Kaparis
|
| Business Administration, University of Macedonia | |
| 4. | Kyriakos Bitsis
|
| Business Administration, University of Macedonia | |
| 5. | George Paltayian
|
| Department of Business Administration, University of Macedonia | |
| 6. | Fenia Mavrodi
|
| University of Macedonia | |
| 7. | Emmanuel Thanassoulis
|
| Aston Business School, Aston University |
Abstract
The efficient allocation of limited resources along with profit optimization play a crucial role in large enterprises and organizations. Given the continuous fluctuations in data and the lack of historical data, managers seek an optimal dynamic strategy to maximize the profits and at the same time keep organizational efficiency at satisfying levels. In some business contexts a central decision-making unit might govern management decisions over multiple subordinate decision-making units and in this study, we investigate efficiency in a stochastic framework using a combined bilevel - DEA approach. We define discrete scenarios with some occurrence probabilities to assign values to uncertain parameters thus enabling decision readjustments upon the realization of each scenario, contributing to an enhanced overall strategy. The proposed approach involves an upper-level problem that handles organizational effectiveness (i.e. profit) and a lower-level problem that handles subDMUs' efficiency. Input and output bounds are also used in the same sense as assurance regions along with lower bounds on subDMUs' efficiencies. The presentation concludes with applications in the banking or healthcare sector.
The research project was supported by the Hellenic Foundation for Research and Innovation (H.F.R.I) under the "2nd Call for H.F.R.I. Research Projects to support Faculty Members & Researchers" (Project Number: 3154).
Keywords
- Data Envelopment Analysis
- Optimization Modeling
Status: accepted
Back to the list of papers