Assessing Performance of Organizations Under Uncertainty: An Application in Higher Education

Date

2021-08-11

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Conference

Peer reviewed

Yes

Abstract

Data envelopment analysis (DEA) is an established approach to measure the efficiency of a group of firms. Amongst many existing DEA models, enhanced Russell measure (ERM) has received some attention and it minimises the ratio of average input reduction to average output increase. In the original ERM, observations are assumed to be precise but in reality, it is always true. This paper presents a class of robust optimisation models to deal with uncertainty with a high degree of robustness in the ERM models. In addition, this study leverages the Monte-Carlo simulation to give an appropriate range for the budget of uncertainty approving the highest level of conformity for the ranking of units. An application on the Master of Business Administration (MBA) programmes is presented.

Description

Keywords

Data envelopment analysis, Education, Efficiency

Citation

Hatami-Marbini, A. Arabmaldar, A. and Toloo, M. (2021) Assessing Performance of Organizations Under Uncertainty: An Application in Higher Education. Fourth International Conference on New Developments in Management, Economics and Accounting, Tehran, August 11, 2021

Rights

Research Institute