We analyze how to allocate the budget for data collection effectively when data envelopment analysis (DEA) is used for predicting the efficiency. We formulate this problem under a Bayesian framework and propose two heuristics algorithms, i.e., a gradient-based algorithm and a hybrid GA algorithm to solve this optimization problem. Our results indicate that effective allocation of budget for data collection can greatly reduce the overall data collection effort in comparison with a uniform budget allocation.
['Wai Peng Wong', 'Wikrom Jaruphongsa', 'Loo Hay Lee']
Budget Allocation for Effective Data Collection in Predicting an Accurate DEA Efficiency Score