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.
- Budget allocation
- genetic algorithm
- gradient search
- optimal computing budget allocation algorithms (OCBA)
- stochastic data envelopment analysis (DEA)