New Results In Production Theory By Applying Goal Programming
[Full Text]
AUTHOR(S)
B.Venkateswarlu B. Mahaboob, C. Subbarami Reddy, C. Narayana
KEYWORDS
GP-CR, stochastic frontier, DEA, factor minimal cost function, DMU production function, technical efficiency, and full frontier cost function.
ABSTRACT
In this research article postulates of Data Envelope Analysis (DEA) and factor minimal cost function and its properties are mentioned because they are prerequisites to understand the goal programming estimation of stochastic cost function. The LPP by which the factor minimum cost is obtained has been proposed here. This research paper includes the two stages of estimation of stochastic cost function. The properties satisfied by factor minimal cost function are stated and a diagram by which the concepts of technical, allocated and overall production efficiencies can be understood is proposed. The GP/CR model with single priority is specified and the GPP by which the estimation of full frontier can be estimated is presented. The LPP by which the output technical efficiency is estimated has been specified here. The goal programming problem by which DA can be formulated is derived and DEA-additive model is proposed. Furthermore some applications of goal programming in portfolio management have been proposed.
REFERENCES
[1] Sueyoshi (1991), ‘Estimation of Stochastic Frontier cost function using Data Envelopment Analysis’, Journal of Operations Research Society, pp. 463-477
[2] W.-K. Charnes A., Cooper W.W and Rhodes E. (1978), “Measuring the Efficiency of Decision-Making Unitsâ€, European Journal of Operational Research 2,429-444
[3] H. Poor, Charnes A, Cooper W.W and Thrall R.M (1986), “Classifying and Characterization Efficiencies and inefficiencies in a Data Envelopment Analysis†Operation Research Letters, Vol.5 (3), 105-110.
[4] Banker, R.D., and Maindiratta A (1988) “Non-Parametric Analysis of Technical and allocative Efficiencies “, Econometric a, 56.
[5] Banker Rajiv. D, Charnes A, Cooper W.W. (1984) “Some Models for Estimation Technical and Scale inefficiencies in Data Envelopment Analysisâ€, Management Science 30, pp.1078-1092.
[6] ] Fare R.C (1978) “Measuring the Technical Efficiency of Productionâ€. Journal of Economic theory 19,150-162.
[7] Fare R. Grosskoff S. And Lovell C A K (1985) “The Measurement of Efficiency Production†Kluwer Nijhoff Publishing, Boston.
[8] Shepherd R.W (1970) “The Theory of Cost and Production Functionâ€, Princeton University Press, Princeton.
[9] Zellner A., and Revanker N.S, (1969), “Generalized Production functionsâ€, Review of Economic Studies,36,pp.241-250.
[10] Schmidt P. (1976), “On the Statistical Estimation of Parametric Frontier Production functionsâ€, Review of Economic and Statistics, 58, pp. 238-239.
[11] Schmidt P. and Lovell C.A.K (1979) “Estimating Technical and allocative inefficiency relative to Stochastic Production and Cost Frontiersâ€, Journal of Econometric 16,343-366.
[12] Farrell, M.J and Fieldhouse M (1962) “Estimating Efficiency in Production Function under increasing Returns to Scaleâ€, Journal of Royal Stastical Society, Series–A,120 253-290.
[13] Kopp R.J (1981) “The Measurement of Productive Efficiency: A reconsiderationâ€, The Quarterly of Economics, 96 pp.477-500.
[14] Christenson, L.R., D.W. Jorgensen and C.J. Law (1973), “Transcendental Logarithmic Production Frontiersâ€, Review of Economics and Statistics, 55, pp.28-45.
[15] Diewart, W., (1976), “Exact and superlative index numbersâ€, Journal of Econometrics, 4, pp. 115-146.
[16] Han-Lin Li (1998), “Least absolute value regression problems using modified goal programming Techniquesâ€, Computers Operations research, 25, pp.1137-1143.
[17] Timmer, C.P., (1971), “Using a Probabilistic Frontier Production function to measure technical Efficiencyâ€, Journal of Political Economy, 70, pp. 776-794.
[18] Shiyuki Sue Yoshi (1991), “Stochastic Frontier production analysisâ€, measuring performance of public telecommunications in 24 OECD countries, European Journal of Operations Research, Vol.74, pp.466-478.
[19] Cobb C.W and Douglas P.H (1928) “A Theory of Productionâ€, American Economic Review, 10.
[20] Toshiyuki Sue Yoshi (1999), “DEA-Discriminant analysis in view of Goal Programmingâ€, European Journal of Operations Research, Vol.115, pp.546-582.
[21] Venkateswarlu, B., Mahaboob, B., Subbarami Reddy, C., & Ravi Sankar, J. (2017). A study on Technical efficiency of a DMU (review of literature). Paper presented at the IOP Conference Series: Materials Science and Engineering, 263(4) doi:10.1088/1757-899X/263/4/04212.
[22] Cooper, W.W., V. Lela’s, T. Sue Yoshi [1997], “Goal Programming Models and their duality relations for use in evaluating security portfolio and regressionsâ€, European Journal of Operations Research, 98, pp.431-443.
[23] Venkateswarlu, B., Mubashir Unnissa, M., & Mahaboob, B. (2016). Estimating cost analysis using Goal programming. Indian Journal of Science and Technology, 9(44).
[24] Mouna Mezghani, Abdelwaheb Rebai, Abdelaziz Dammak,Taicir Moalla Loukil (2009), A goal programming model for aggregate production planning problem, International Journal of Operational Research 4(1),January 2009.
[25] Stephen C.H .Leung ,Wan-lung Ng(2007), A goal programming model for production planning of perishable products with postponement, Computers an industrialengineering,Vol53,Issue3,October2007,pages5-541 .
[26] Venkateswarlu B, Mahaboob .B, and C. Subbarami reddy (2019), “Evaluation Of Slack Based Efficiency Of A Decision Making Unit, INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH VOLUME 8, ISSUE 11, ISSN 2277-8616 .
[27] B.Venkateswarlu, B. Mahaboob, K.A. Azmath, C. Narayana, C. Muralidaran, (2019), “An Application of Linear Programming in the Estimation of Technical Efficiency of DMU “,International Journal of Engineering and Advanced Technology (IJEAT), ISSN: 2249 – 8958, Volume-8 Issue-6.
[28] B.Venkateswarlu , B. Mahaboob , J. Ravi sankar, C. Narayana and B. Madhusudhana Rao, (2018) “An Application of Goal Programming in Data Envelopment Analysis†, International Journal of Engineering & Technology, 7 (4.10) (2018) 523-525.
|