Abstract
Halme et al., Management Science, 45, 103–115 (1999) have proposed Value Efficiency Analysis as an approach to incorporate preference information in Data Envelopment Analysis (DEA). Generally, a value function includes only ordinal information and thus a value efficiency score does not provide information on the value difference. The score only describes the improvements in the input/output values that are needed in order to make the Decision-Making Unit (DMU) as preferred as the Most Preferred Solution (MPS). This Paper discusses two sets of additional assumptions that enable us to give the efficiency score a value difference interpretation.
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