Studies of some duality properties in the Li and Reeves model de Carvalho Chaves, Maria Cecilia; Soares de Mello, João Carlos C B; Angulo-Meza, Lidia
The Journal of the Operational Research Society,
03/2016, Volume:
67, Issue:
3
Journal Article
Peer reviewed
In 1999, Li and Reeves presented the so-called MCDEA (Multiple Criteria Data Envelopment Analysis) model. This model is in fact a three objective linear model. It may be used to improve the ...discriminatory power of the DEA models, as well as generate a more reasonable distribution of the inputs and outputs weights. Besides the classical optimization of the efficiency index, Li and Reeves introduced two other objective functions, called minisum and minimax. Despite of being an important approach, it does not provide benchmarks or targets for inefficient DMUs. Benchmarks and targets are one of the most important DEA features and in standard DEA are determined using the dual (envelope) model. In this paper, we introduce an approach of the MCDEA dual formulation taking into account only two objective functions at each time. Combining both partial models we suggest benchmarks for each inefficient DMU.
This paper reports a case-study investigation into the economic desirability of generating hydroelectric power from the River Stour for Canford School, Dorset, as part of a larger feasibility study, ...which won a 1985 Molins Design Prize. A parametric discounting approach to net present-value assessment was used to examine the economic benefits of installing a small run-of-river hydropower scheme. Sensitivity analysis was used to clarify the effects of uncertainties in the limited cost and rate data available at the feasibility stage of the project. The role of the economic analysis in relation to other aspects of the feasibility study is indicated.
A decision situation and model-specific O.R. method developed for reliability analysis of an Arctic liquid natural gas facility is outlined. It was developed by modifying a decision situation and ...model-specific O.R. method developed earlier for time (schedule or programme) risk analysis of offshore North Sea projects. The role and value of such methods is discussed in relation to general O.R. methods and specific techniques like C.P.M./PERT.
Risk engineering models for decision making under uncertainty are illustrated by a succession of increasingly complex example applications. The approach is based upon simple arithmetic procedures ...which are easy to understand and use. Offshore North Sea projects are the basis for the example applications, but the approach has been used in a range of problem environments in the U.K., Canada and U.S.A. The emphasis is a flexible structure for viewing problems which allows modelling at a level of detail and with a degree of quantification tailored to the needs of the context. The concern is gaining useful insight, not model solution optimisation.
Credit Policy and Inventory Control Chapman, C. B.; Ward, S. C.; Cooper, Dale F. ...
The Journal of the Operational Research Society,
12/1984, Volume:
35, Issue:
12
Journal Article
This paper considers information requirements for the development of a bid price in a generalized competitive-bidding situation. A framework for the bid-preparation process is described. The ...framework outlines the steps required to combine various types of information to produce a bid price. Particular emphasis is placed on information about competitors, criteria to be used by a contract buyer, and the buyer's method of evaluating bids. The framework incorporates the 'maximization of expected profit' approach much discussed in the literature, but the mathematical details of this calculation are not considered. Discussion focusses on obtaining and making use of relevant information, and on desirable modifications to expected-profit calculations.
