a two-stage dea to analyze the effect of entrance deregulation on iranian insurers: a robust approach

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2012
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Abstract
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.
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naini2012mathematicala Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Seyed Gholamreza Jalali Naini;Hamid Reza Nouralizadeh
Journal journal of power sources
Year 2012
DOI
10.1155/2012/423524
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