Value efficiency analysis of academic research
We propose a systematic approach to analyzing academic research performance at universities and research institutes. The analysis of research performance based on a set of (abstract) criteria which are relevant from the decision maker's point of view. The scales for these criteria are defined by means of concrete indicators. All indicators, are, however, not necessarily quantitative. Qualitative information is quantified using appropriate analytical tools. Once the criteria and indicators have been agreed upon and quantified, data on the research units is collected and a Value Efficiency Analysis is performed. The efficiency of research units is defined in the spirit of Data Envelopment Analysis (DEA), complemented with a decision makers (Rector in the European university system) preference information. This information is obtained by asking the decision maker to locate a point on the efficient frontier having the most preferred input and output values. Our approach and the accompanying Decision Support System enables a university to allocate resources more efficiently for its research units. Using data from the Helsinki School of Economics, we describe how our approach can be used.
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