Some Thoughts on Operationalizing the Concept of Sufficiency in Efficiency Analysis
Authors
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Malte L Peters
Federal University of Applied Administrative Sciences, Department of Finance Gescherweg 100 48161 Muenster Germany
https://orcid.org/0000-0001-5283-3627
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Stephan Zelewski
Institute of Production and Industrial Information Management, University of Duisburg-Essen, Campus Essen Universitaetsstr. 9 45141 Essen Germany
https://orcid.org/0000-0003-3830-0618
DOI:
https://doi.org/10.18488/journal.11.2018.71.63.71Abstract
The concept of sufficiency is rarely acknowledged in mainstream business economics and has not been addressed so far in the literature on efficiency analysis. In this paper, satisficing levels as known from the Efficiency Analysis Technique With Output Satisficing (EATWOS) and from its extension Efficiency Analysis Technique With Input and Output Satisficing (EATWIOS) are suggested to operationalize sufficiency in efficiency analysis. Moreover, a simple data transformation approach is proposed in order to use satisficing levels in other efficiency analysis techniques, particularly in the widely used Data Envelopment Analysis (DEA).
Keywords:
Data envelopment analysis, EATWOS, EATWIOS, Efficiency, Productivity, Sufficiency, SustainabilityAbstract Video
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