The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl

We undertake a systematic comparison of existing models measuring and decomposing the economic efficiency of organizations. For this purpose we introduce the package BenchmarkingEconomicEfficiency.jl for the open-source Julia language including a set of functions to be used by scholars and professio...

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Detalles Bibliográficos
Autores: Barbero Jiménez, Javier, Zofío Prieto, José Luis
Tipo de recurso: artículo
Fecha de publicación:2023
País:España
Institución:Universidad Autónoma de Madrid
Repositorio:Biblos-e Archivo. Repositorio Institucional de la UAM
Idioma:inglés
OAI Identifier:oai:repositorio.uam.es:10486/708048
Acceso en línea:http://hdl.handle.net/10486/708048
https://dx.doi.org/10.1016/j.seps.2023.101656
Access Level:acceso abierto
Palabra clave:Allocative efficiency
Data envelopment analysis
Economic efficiency
Julia language
Technical efficiency
Economía
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spelling The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jlBarbero Jiménez, JavierZofío Prieto, José LuisAllocative efficiencyData envelopment analysisEconomic efficiencyJulia languageTechnical efficiencyEconomíaWe undertake a systematic comparison of existing models measuring and decomposing the economic efficiency of organizations. For this purpose we introduce the package BenchmarkingEconomicEfficiency.jl for the open-source Julia language including a set of functions to be used by scholars and professionals working in the fields of economics, management science, engineering, and operations research. Using mathematical programming methods known as Data Envelopment Analysis, the software develops code to decompose economic efficiency considering alternative definitions: profit, profitability, cost and revenue. Economic efficiency can be decomposed, multiplicative or additively, into a technical (productive) efficiency term and a residual term representing allocative (or price) efficiency. We include traditional decompositions like the radial efficiency measures associated with the input (cost) and output (revenue) approaches, as well as new ones corresponding to the Russell measures, the directional distance function, DDF (including novel extensions like the reverse DDF, modified DDF, or generalizations based on Hölder norms), the generalized distance function, and additive measures like the slack based measure, their weighted variants, etc. Moreover, regardless the underlying economic efficiency model, many of these technical inefficiency measures are available for calculation in a computer software for the first time. This article details the theoretical methods and the empirical implementation of the functions, comparing the obtained results using a common dataset on Taiwanese BanksJosé L. Zofío thanks the grant PID2019-105952 GB-I00 funded by Ministerìo de Ciencia e Innovación/ Agencia Estatal de Investigación /10.13039/501100011033ElsevierDepartamento de Análisis Económico: Teoría Económica e Historia EconómicaFacultad de Ciencias Económicas y Empresariales20232023-06-28research articlehttp://purl.org/coar/resource_type/c_2df8fbb1VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10486/708048https://dx.doi.org/10.1016/j.seps.2023.101656reponame:Biblos-e Archivo. Repositorio Institucional de la UAMinstname:Universidad Autónoma de MadridInglésengopen accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:repositorio.uam.es:10486/7080482026-06-23T12:46:27Z
dc.title.none.fl_str_mv The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
title The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
spellingShingle The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
Barbero Jiménez, Javier
Allocative efficiency
Data envelopment analysis
Economic efficiency
Julia language
Technical efficiency
Economía
title_short The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
title_full The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
title_fullStr The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
title_full_unstemmed The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
title_sort The measurement of profit, profitability, cost and revenue efficiency through data envelopment analysis: A comparison of models using BenchmarkingEconomicEfficiency.jl
dc.creator.none.fl_str_mv Barbero Jiménez, Javier
Zofío Prieto, José Luis
author Barbero Jiménez, Javier
author_facet Barbero Jiménez, Javier
Zofío Prieto, José Luis
author_role author
author2 Zofío Prieto, José Luis
author2_role author
dc.contributor.none.fl_str_mv Departamento de Análisis Económico: Teoría Económica e Historia Económica
Facultad de Ciencias Económicas y Empresariales
dc.subject.none.fl_str_mv Allocative efficiency
Data envelopment analysis
Economic efficiency
Julia language
Technical efficiency
Economía
topic Allocative efficiency
Data envelopment analysis
Economic efficiency
Julia language
Technical efficiency
Economía
description We undertake a systematic comparison of existing models measuring and decomposing the economic efficiency of organizations. For this purpose we introduce the package BenchmarkingEconomicEfficiency.jl for the open-source Julia language including a set of functions to be used by scholars and professionals working in the fields of economics, management science, engineering, and operations research. Using mathematical programming methods known as Data Envelopment Analysis, the software develops code to decompose economic efficiency considering alternative definitions: profit, profitability, cost and revenue. Economic efficiency can be decomposed, multiplicative or additively, into a technical (productive) efficiency term and a residual term representing allocative (or price) efficiency. We include traditional decompositions like the radial efficiency measures associated with the input (cost) and output (revenue) approaches, as well as new ones corresponding to the Russell measures, the directional distance function, DDF (including novel extensions like the reverse DDF, modified DDF, or generalizations based on Hölder norms), the generalized distance function, and additive measures like the slack based measure, their weighted variants, etc. Moreover, regardless the underlying economic efficiency model, many of these technical inefficiency measures are available for calculation in a computer software for the first time. This article details the theoretical methods and the empirical implementation of the functions, comparing the obtained results using a common dataset on Taiwanese Banks
publishDate 2023
dc.date.none.fl_str_mv 2023
2023-06-28
dc.type.none.fl_str_mv research article
http://purl.org/coar/resource_type/c_2df8fbb1
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/10486/708048
https://dx.doi.org/10.1016/j.seps.2023.101656
url http://hdl.handle.net/10486/708048
https://dx.doi.org/10.1016/j.seps.2023.101656
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Biblos-e Archivo. Repositorio Institucional de la UAM
instname:Universidad Autónoma de Madrid
instname_str Universidad Autónoma de Madrid
reponame_str Biblos-e Archivo. Repositorio Institucional de la UAM
collection Biblos-e Archivo. Repositorio Institucional de la UAM
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.301603

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