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https://doi.org/10.17535/crorr.2015.0003

Data-driven weights and restrictions in the construction of composite indicators

Ana Perišić   ORCID icon orcid.org/0000-0001-9180-0270 ; Polytechnic of Šibenik, Šibenik, Croatia

Puni tekst: engleski, pdf (314 KB) str. 29-42 preuzimanja: 539* citiraj
APA 6th Edition
Perišić, A. (2015). Data-driven weights and restrictions in the construction of composite indicators. Croatian Operational Research Review, 6 (1), 29-42. https://doi.org/10.17535/crorr.2015.0003
MLA 8th Edition
Perišić, Ana. "Data-driven weights and restrictions in the construction of composite indicators." Croatian Operational Research Review, vol. 6, br. 1, 2015, str. 29-42. https://doi.org/10.17535/crorr.2015.0003. Citirano 26.06.2019.
Chicago 17th Edition
Perišić, Ana. "Data-driven weights and restrictions in the construction of composite indicators." Croatian Operational Research Review 6, br. 1 (2015): 29-42. https://doi.org/10.17535/crorr.2015.0003
Harvard
Perišić, A. (2015). 'Data-driven weights and restrictions in the construction of composite indicators', Croatian Operational Research Review, 6(1), str. 29-42. doi: https://doi.org/10.17535/crorr.2015.0003
Vancouver
Perišić A. Data-driven weights and restrictions in the construction of composite indicators. Croatian Operational Research Review [Internet]. 2015 [pristupljeno 26.06.2019.];6(1):29-42. doi: https://doi.org/10.17535/crorr.2015.0003
IEEE
A. Perišić, "Data-driven weights and restrictions in the construction of composite indicators", Croatian Operational Research Review, vol.6, br. 1, str. 29-42, 2015. [Online]. doi: https://doi.org/10.17535/crorr.2015.0003

Sažetak
Composite indicators are increasingly recognized as a useful tool in policy analysis and public communication. However, if poorly constructed, they can send misleading policy messages. Perhaps the most difficult aspect of constructing a composite indicator is choosing weights for the components. The categorization of Croatian territorial units for development policy is based on the value of the composite indicator called the development index. The main goal of this paper is to propose an empirical approach for weight selection. In order to generate the set of non-subjective weights, principal component analysis and linear programming methods have been applied. An application of data envelopment analysis to the field of composite indicators, known as the Benefit-of-the-Doubt approach, has been demonstrated subject to proportional sub-indicator share restrictions. Additionally, the Monte Carlo simulation of weights was conducted, and confidence intervals for the values of the development index were estimated. Owing to the fact that the examined weighting schemes have resulted in the different categorization of territorial units, use of unit-specific weights and incorporating uncertainty in the construction of a composite indicator looks promising for further work.

Ključne riječi
composite indicator; development index; weighting; principal component analysis; benefit of the doubt

Hrčak ID: 138570

URI
https://hrcak.srce.hr/138570

Posjeta: 741 *