University of Hertfordshire

By the same authors

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An automatic-democratic approach to weight setting for the new human development index. / Tofallis, C.

University of Hertfordshire, 2012. p. 32 (UH Business School Working Paper).

Research output: Working paper

Harvard

Tofallis, C 2012 'An automatic-democratic approach to weight setting for the new human development index' UH Business School Working Paper, University of Hertfordshire, pp. 32.

APA

Tofallis, C. (2012). An automatic-democratic approach to weight setting for the new human development index. (pp. 32). (UH Business School Working Paper). University of Hertfordshire.

Vancouver

Tofallis C. An automatic-democratic approach to weight setting for the new human development index. University of Hertfordshire. 2012, p. 32. (UH Business School Working Paper).

Author

Tofallis, C. / An automatic-democratic approach to weight setting for the new human development index. University of Hertfordshire, 2012. pp. 32 (UH Business School Working Paper).

Bibtex

@techreport{3345e3c5f8f04ed7872c9983a91ff7af,
title = "An automatic-democratic approach to weight setting for the new human development index",
abstract = "Perhaps the most difficult aspect of constructing a multi-dimensional index is that of choosing weights for the components. This problem is often bypassed by adopting the {\textquoteleft}agnostic{\textquoteright} option of equal weights, as in the Human Development Index. This is an annual ranking of countries produced by the United Nations Development Programme based on life expectancy, education, and per capita gross national income. These three dimensions are now aggregated multiplicatively. Whatever weights (exponents) are chosen for these dimensions, some nations will feel disadvantaged. To avoid the use of arbitrary weights we propose for consideration a two-step approach: (1) Find the most advantageous set of weights for each nation in turn. (2) Regress the associated optimal scores on the underlying indicators to find a single weight set. This approach has the properties of non-subjectivity, fairness, and convenience. The result is that the highest weight is placed on the life expectancy dimension.",
author = "C. Tofallis",
note = "Final version of the paper has been accepted for publication in Journal of Population Economics",
year = "2012",
language = "English",
series = "UH Business School Working Paper",
publisher = "University of Hertfordshire",
pages = "32",
type = "WorkingPaper",
institution = "University of Hertfordshire",

}

RIS

TY - UNPB

T1 - An automatic-democratic approach to weight setting for the new human development index

AU - Tofallis, C.

N1 - Final version of the paper has been accepted for publication in Journal of Population Economics

PY - 2012

Y1 - 2012

N2 - Perhaps the most difficult aspect of constructing a multi-dimensional index is that of choosing weights for the components. This problem is often bypassed by adopting the ‘agnostic’ option of equal weights, as in the Human Development Index. This is an annual ranking of countries produced by the United Nations Development Programme based on life expectancy, education, and per capita gross national income. These three dimensions are now aggregated multiplicatively. Whatever weights (exponents) are chosen for these dimensions, some nations will feel disadvantaged. To avoid the use of arbitrary weights we propose for consideration a two-step approach: (1) Find the most advantageous set of weights for each nation in turn. (2) Regress the associated optimal scores on the underlying indicators to find a single weight set. This approach has the properties of non-subjectivity, fairness, and convenience. The result is that the highest weight is placed on the life expectancy dimension.

AB - Perhaps the most difficult aspect of constructing a multi-dimensional index is that of choosing weights for the components. This problem is often bypassed by adopting the ‘agnostic’ option of equal weights, as in the Human Development Index. This is an annual ranking of countries produced by the United Nations Development Programme based on life expectancy, education, and per capita gross national income. These three dimensions are now aggregated multiplicatively. Whatever weights (exponents) are chosen for these dimensions, some nations will feel disadvantaged. To avoid the use of arbitrary weights we propose for consideration a two-step approach: (1) Find the most advantageous set of weights for each nation in turn. (2) Regress the associated optimal scores on the underlying indicators to find a single weight set. This approach has the properties of non-subjectivity, fairness, and convenience. The result is that the highest weight is placed on the life expectancy dimension.

M3 - Working paper

T3 - UH Business School Working Paper

SP - 32

BT - An automatic-democratic approach to weight setting for the new human development index

PB - University of Hertfordshire

ER -