Data Envelopment Analysis – Is BCC model better than CCR model? Case of Indian Life Insurance companies

In management practice, mathematical programming is used to evaluate the various alternatives and then choose the best option. This mathematical programming is effective as a planning tool. In the case of efficiency analysis using DEA, post facto evaluations are made and therefore, DEA is more of a monitoring and controlling tool rather than a planning tool. In our research paper, we have focused more on this DEA applicability aspect, its variation and impact of such variations, rather than a focus on mathematical aspects found in theoretical papers. Concrete theoretical boosts as in exacting sciences like engineering are not available for DEA applications and they get replaced with weaker support from disciplines like economics. This results in satisfying one with weaker measures like relative efficiency rather than a stronger and more correct result obtained from a stronger theory. Read more