aalto1 untyped-item.component.html
Efficient Allocation of Resources to a Portfolio of Decision Making Units
Loading...
Access rights
openAccess
acceptedVersion
URL
Journal Title
Journal ISSN
Volume Title
A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
This publication is imported from Aalto University research portal.
View publication in the Research portal (opens in new window)
View/Open full text file from the Research portal (opens in new window)
Other link related to publication (opens in new window)
View publication in the Research portal (opens in new window)
View/Open full text file from the Research portal (opens in new window)
Other link related to publication (opens in new window)
Unless otherwise stated, all rights belong to the author. You may download, display and print this publication for Your own personal use. Commercial use is prohibited.
Authors
Date
Major/Subject
Mcode
Degree programme
Language
en
Pages
Series
European Journal of Operational Research, Volume 286, issue 2, pp. 619-636
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.
Description
Other note
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