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Address allocation is an essential part in maintaining a mobile ad hoc network (MANET) effectively, and several address allocation schemes have been proposed. In this paper, we present a set of analytical models to evaluate the efficiency of address allocation schemes. The derived models quantitatively characterize the efficiency of four popular address allocation schemes in terms of latency and communication overhead. Through the analysis, we achieve numerical results that show the impact of network parameters on the efficiency of these schemes. We also conduct simulations and compare with analytical results to validate our models. The analytical model developed in this paper is able to more accurately predict the performance of address allocation schemes over a various range of loss rates and would be useful in providing more insights for the study of an efficient address allocation scheme in MANETs. To our understanding, this is the first attempt in mathematically investigating the performance of addressing schemes in ad hoc networks.