Journal
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
Volume 267, Issue 1, Pages 381-392Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2017.11.048
Keywords
Data Envelopment Analysis; Benefit-of-the-doubt model; Composite indicator; Generalized mean aggregation; Human Development Index
Funding
- Impulsproject of the KU Leuven (Belgium) [IMP/14/011]
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Composite indicators (CIs) are usually computed as arithmetic (weighted) averages of (often normalized) sub-indicators. Several studies criticized this procedure for implying requirements and properties that are often hard to maintain in practical applications. Recent studies explored the multiplicative aggregation and more specifically the geometric (weighted) average as aggregator in Cl-building. This paper takes this exploration one step further by considering other members of the family of generalized (weighted) averages as aggregator in the construction of CIs. It is argued that the choice for a particular version of the generalized weighted average enables to reflect decision makers' attitudes in the evaluation. For the Human Development Index, results show that the choice for a specific version of the generalized (weighted) average as aggregator in CI-construction impacts country rankings. (C) 2017 Elsevier B.V. All rights reserved.
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