Cost Malmquist Productivity Index in Non-Competitive Environment of Price in Data Envelopment Analysis and the Use of it in the Dealings of the Iranian Stock Exchange

The Malmquist Productivity Index (MPI) is a tool for analyzing the productivity. Considering its importance, different suggestions and studies have been offered on the MPI according to existing conditions of decision making units (DMUs) and the available data. The present research aimed to provide a Cost Malmquist Productivity Index (CMPI) in a non-competitive environment in which the price data changes from one under evaluation unit to another. Given the deficiency of Farrel’s cost efficiency [1] and also the cost efficiency model presented by Tone [2], we presented CMPI in the presence of non-identical prices for various DMUs, Then, we evaluate a unit listed on the Iranian Stock Exchange by aforementioned CMPI.