Measuring Performance of Power Plants by an Integrated DEA-Game Theory Approach

In various studies for assessment of power generation units, data envelopment analysis (DEA) and balanced scorecard (BSC) are the common methods used forperformance evaluation. To increase the power of the method in terms of distinguishing between efficient and inefficient decision making units (DMUs), the number ofunits being evaluated must be proportional to the number of variables (inputs and outputs). In other words, the numberof efficient DMUs relies on the number of variables. On the other hand, in real case study, it is necessary to explore how to combine multi categories of measures in a unifiedevaluation framework. This paper introduces integrated DEA and game theory approaches. In addition, we definemeasures based on BSC perspectives. BSC is used to categorize the efficiency measures. The abilities of the proposed approach have been shown by a case study of power plants in Iran.

Keywords:

Game theory , Data envelopment analysis , Balanced scorecard , Unified performance , Power plants