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Efficient Allocation of Resources to a Portfolio of Decision Making Units

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Liesiö, Juuso
dc.contributor.author Andelmin, Juho
dc.contributor.author Salo, Ahti
dc.date.accessioned 2020-04-03T09:49:11Z
dc.date.available 2020-04-03T09:49:11Z
dc.date.issued 2020-10-16
dc.identifier.citation Liesiö , J , Andelmin , J & Salo , A 2020 , ' Efficient Allocation of Resources to a Portfolio of Decision Making Units ' , European Journal of Operational Research , vol. 286 , no. 2 , pp. 619-636 . https://doi.org/10.1016/j.ejor.2020.03.031 en
dc.identifier.issn 0377-2217
dc.identifier.other PURE UUID: 6fa00500-d1c9-4efa-ae23-fe497e17d59e
dc.identifier.other PURE ITEMURL: https://research.aalto.fi/en/publications/6fa00500-d1c9-4efa-ae23-fe497e17d59e
dc.identifier.other PURE LINK: http://www.scopus.com/inward/record.url?scp=85083516310&partnerID=8YFLogxK
dc.identifier.other PURE LINK: http://www.sciencedirect.com/science/article/pii/S0377221720302459
dc.identifier.other PURE FILEURL: https://research.aalto.fi/files/41724835/SCI_Liesio_Andelmin_Salo_Efficient_Allocation.2020.pdf
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/43664
dc.description.abstract Efficiency analysis is widely employed to evaluate decision making units (DMUs) which convert input resources into outputs. In this paper, we develop models for allocating these resources to DMUs in order to maximize the overall efficiency of the portfolio formed by these DMUs. Our models do not require complete preference information about how valuable the inputs and outputs are relative to each other. Rather, based on incomplete preference information and explicit assumptions about the DMUs’ production possibilities, they determine all efficient DMUs portfolios which are then analyzed to provide robust decision recommendations on how much resources should be allocated to each DMU. We illustrate our models by revisiting earlier case studies and show that the use of conventional efficiency analysis in guiding resource allocation decisions can cause inefficiencies. en
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher Elsevier Science B.V.
dc.relation.ispartofseries European Journal of Operational Research en
dc.rights openAccess en
dc.title Efficient Allocation of Resources to a Portfolio of Decision Making Units en
dc.type A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä fi
dc.description.version Peer reviewed en
dc.contributor.department Department of Information and Service Economy
dc.contributor.department Department of Mathematics and Systems Analysis
dc.subject.keyword Decision Support Systems
dc.subject.keyword Portfolio Decision Analysis
dc.subject.keyword Multiple Criteria
dc.subject.keyword Resource Allocation
dc.subject.keyword Efficiency Analysis
dc.identifier.urn URN:NBN:fi:aalto-202004032694
dc.identifier.doi 10.1016/j.ejor.2020.03.031
dc.date.embargo info:eu-repo/date/embargoEnd/2022-03-18

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