The purpose of this study is to provide a broader, economic perspective on customer value management. By developing an efficiency-based concept of customer value we aim at contributing to the presently underrepresented research field of marketing economics. The customer value concept is utilized...

In this paper we establish further connections between DEA and Multi-criteria Decision Analysis by suggesting a particular way to estimate preference weights for different objectives using DEA. We claim that the virtual multipliers obtained from a standard DEA model are not suitable to measure...

A problem with a practical application of Varian's Weak Axiom of Cost Minimization is that an observed violation may be due to random variation in the output quantities produced by firms rather than due to inefficiency on the part of the firm. In this paper, unlike in Varian (1985), the output...