Sigma-Mu efficiency analysis: A methodology for evaluating units through composite indicators

We propose a methodology to employ composite indicators for performance analysis of units of interest using and extending the family of Stochastic Multiattribute Acceptability Analysis. We start evaluating each unit by means of weighted sums of their elementary indicators in the whole set of admissible weights. For each unit, we compute the mean, μ, and the standard deviation, σ, of its evaluations. Clearly, the former has to be maximized, while...