A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach
We use two-stage data envelopment analysis (DEA) model to analyze the effects of entrance deregulation on the efficiency in the Iranian insurance market. In the first stage, we propose a robust optimization approach in order to overcome the sensitivity of DEA results to any uncertainty in the output...
Main Authors: | , |
---|---|
Format: | Article |
Language: | English |
Published: |
Hindawi Limited
2012-01-01
|
Series: | Mathematical Problems in Engineering |
Online Access: | http://dx.doi.org/10.1155/2012/423524 |
id |
doaj-b343b653cd594ba9a7e607dbbb585c2f |
---|---|
record_format |
Article |
spelling |
doaj-b343b653cd594ba9a7e607dbbb585c2f2020-11-24T23:51:15ZengHindawi LimitedMathematical Problems in Engineering1024-123X1563-51472012-01-01201210.1155/2012/423524423524A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust ApproachSeyed Gholamreza Jalali Naini0Hamid Reza Nouralizadeh1Department of Industrial Engineering, Iran University of Science and Technology, Narmak, Tehran 1684613114, IranDepartment of Industrial Engineering, Iran University of Science and Technology, Narmak, Tehran 1684613114, IranWe use two-stage data envelopment analysis (DEA) model to analyze the effects of entrance deregulation on the efficiency in the Iranian insurance market. In the first stage, we propose a robust optimization approach in order to overcome the sensitivity of DEA results to any uncertainty in the output parameters. Hence, the efficiency of each ongoing insurer is estimated using our proposed robust DEA model. The insurers are then ranked based on their relative efficiency scores for an eight-year period from 2003 to 2010. In the second stage, a comprehensive statistical analysis using generalized estimating equations (GEE) is conducted to analyze some other factors which could possibly affect the efficiency scores. The first results from DEA model indicate a decline in efficiency over the entrance deregulation period while further statistical analysis confirms that the solvency ignorance which is a widespread paradigm among state owned companies is one of the main drivers of efficiency in the Iranian insurance market.http://dx.doi.org/10.1155/2012/423524 |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Seyed Gholamreza Jalali Naini Hamid Reza Nouralizadeh |
spellingShingle |
Seyed Gholamreza Jalali Naini Hamid Reza Nouralizadeh A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach Mathematical Problems in Engineering |
author_facet |
Seyed Gholamreza Jalali Naini Hamid Reza Nouralizadeh |
author_sort |
Seyed Gholamreza Jalali Naini |
title |
A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach |
title_short |
A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach |
title_full |
A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach |
title_fullStr |
A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach |
title_full_unstemmed |
A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach |
title_sort |
two-stage dea to analyze the effect of entrance deregulation on iranian insurers: a robust approach |
publisher |
Hindawi Limited |
series |
Mathematical Problems in Engineering |
issn |
1024-123X 1563-5147 |
publishDate |
2012-01-01 |
description |
We use two-stage data envelopment analysis (DEA) model to analyze the effects of entrance deregulation on the efficiency in the Iranian insurance market. In the first stage, we propose a robust optimization approach in order to overcome the sensitivity of DEA results to any uncertainty in the output parameters. Hence, the efficiency of each ongoing insurer is estimated using our proposed robust DEA model. The insurers are then ranked based on their relative efficiency scores for an eight-year period from 2003 to 2010. In the second stage, a comprehensive statistical analysis using generalized estimating equations (GEE) is conducted to analyze some other factors which could possibly affect the efficiency scores. The first results from DEA model indicate a decline in efficiency over the entrance deregulation period while further statistical analysis confirms that the solvency ignorance which is a widespread paradigm among state owned companies is one of the main drivers of efficiency in the Iranian insurance market. |
url |
http://dx.doi.org/10.1155/2012/423524 |
work_keys_str_mv |
AT seyedgholamrezajalalinaini atwostagedeatoanalyzetheeffectofentrancederegulationoniranianinsurersarobustapproach AT hamidrezanouralizadeh atwostagedeatoanalyzetheeffectofentrancederegulationoniranianinsurersarobustapproach AT seyedgholamrezajalalinaini twostagedeatoanalyzetheeffectofentrancederegulationoniranianinsurersarobustapproach AT hamidrezanouralizadeh twostagedeatoanalyzetheeffectofentrancederegulationoniranianinsurersarobustapproach |
_version_ |
1725476820429570048 |