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Abstract(s)
This paper presents a literature review on Data Envelopment Analysis assessments of economic efficiency, covering methodological developments and empirical applications. We review the seminal models for economic efficiency measurement, involving the optimization of cost, revenue, and profit. The applications of the different modelling approaches are also discussed. Based on a content analysis of papers published between 1978 and 2020 in various sectors, the main areas of study are identified, and the pathways of research developments are discussed. Most studies are based on disaggregated quantity and price data. In addition, the use of panel data is prevalent compared to cross-sectional studies. There is a preponderance of input-oriented studies focused on cost efficiency rather than revenue or profit efficiency. Informed by the historical evolution of economic efficiency assessments portrayed in this review, we suggest directions for future developments.
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Keywords
Cost efficiency Data envelopment analysis Economic efficiency Profit efficiency Revenue efficiency