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Common weights in dynamic network DEA with goal programming approach for performance assessment of insurance companies in Iran

Author

Listed:
  • Davood Gharakhani
  • Abbas Toloie Eshlaghy
  • Kiamars Fathi Hafshejani
  • Reza Kiani Mavi
  • Farhad Hosseinzadeh Lotfi

Abstract

Purpose - Conventional data envelopment analysis (DEA) models permit each decision-making unit (DMU) to assess its efficiency score with the most favorable weights. In other words, each DMU selects the best weighting schemes to obtain maximum efficiency for itself. Therefore, using different sets of weights leads to many different efficient DMUs, which makes comparing and ranking them on a similar basis impossible. Another issue is that often more than one DMU is evaluated as efficient because the selection of weights is flexible; therefore, all DMUs cannot be completely differentiated. The purpose of this paper is to development a common weight in dynamic network DEA with a goal programming approach. Design/methodology/approach - In this paper, a goal programming approach has been proposed to generate common weights in dynamic network DEA. To validate the applicability of the proposed model, the data of 30 non-life insurance companies in Iran during 2013-2015 have been used for measuring their efficiency scores and ranking all of the companies. Findings - Findings show that the proposed methodology is an effective and practical approach to measure the efficiency of DMUs with dynamic network structure. Originality/value - The proposed model delivers more knowledge of the common weight approaches and improves the DEA theory and methodology. This model makes it possible to measure efficiency scores and compare all DMUs from multiple different standpoints. Further, this model allows one to not only calculate the overall efficiency of DMUs throughout the time period but also consider dynamic change of the time period efficiency and dynamic change of the divisional efficiency of DMUs.

Suggested Citation

  • Davood Gharakhani & Abbas Toloie Eshlaghy & Kiamars Fathi Hafshejani & Reza Kiani Mavi & Farhad Hosseinzadeh Lotfi, 2018. "Common weights in dynamic network DEA with goal programming approach for performance assessment of insurance companies in Iran," Management Research Review, Emerald Group Publishing Limited, vol. 41(8), pages 920-938, April.
    • Handle: RePEc:eme:mrrpps:mrr-03-2017-0067
    DOI: 10.1108/MRR-03-2017-0067
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    Citations

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    Cited by:

    1. Lívia Torres & Francisco S. Ramos, 2024. "Allocating Benefits Due to Shared Resources Using Shapley Value and Nucleolus in Dynamic Network Data Envelopment Analysis," Mathematics, MDPI, vol. 12(5), pages 1-23, February.
    2. Lívia Mariana Lopes de Souza Torres & Francisco S. Ramos, 2024. "Are Brazilian Higher Education Institutions Efficient in Their Graduate Activities? A Two-Stage Dynamic Data-Envelopment-Analysis Cooperative Approach," Mathematics, MDPI, vol. 12(6), pages 1-41, March.
    3. Liu, Zhaoyi & Tu, Yongqian, 2023. "Nexus among financial innovation, natural resources and economic recovery: A fresh empirical insight from China," Resources Policy, Elsevier, vol. 84(C).

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