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The Balanced Worth: A Procedure to Evaluate Performance in Terms of Ordered Attributes

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  • Carmen Herrero

    (University of Alicante & Ivie)

  • Antonio Villar

    (Universidad Pablo de Olavide & Ivie)

Abstract

There are many problems in the social sciences that refer to the evaluation of the relative performance of some populations when their members’ achievements are described by a distribution of outcomes over a set of ordered categories. A new method for the evaluation of this type of problems is presented here. That method, called balanced worth, offers a cardinal, complete and transitive evaluation that is based on the likelihood of getting better results. The evaluation of each society is based on the probability of obtaining better results with respect to the others. The balanced worth is a refinement of “the worth” (Herrero and Villar in PLoS ONE 8(12):e84784, 2013. https://doi.org/10.1371/journal.pone.0084784 ) that overcomes its excessive sensitivity to the differences, due to the presence of ties. We also discuss how this method can be applied for the case of heterogeneous populations and show how it can be applied in different contexts. An empirical example, regarding life satisfaction in Spain is used to illustrate the working of this method.

Suggested Citation

  • Carmen Herrero & Antonio Villar, 2018. "The Balanced Worth: A Procedure to Evaluate Performance in Terms of Ordered Attributes," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 140(3), pages 1279-1300, December.
    • Handle: RePEc:spr:soinre:v:140:y:2018:i:3:d:10.1007_s11205-017-1818-7
    DOI: 10.1007/s11205-017-1818-7
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    References listed on IDEAS

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    1. Albarrán, Pedro & Herrero, Carmen & Ruiz-Castillo, Javier & Villar, Antonio, 2017. "The Herrero-Villar approach to citation impact," Journal of Informetrics, Elsevier, vol. 11(2), pages 625-640.
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    4. Herrero, Carmen & Mendez, Ildefonso & Villar, Antonio, 2014. "Analysis of group performance with categorical data when agents are heterogeneous: The evaluation of scholastic performance in the OECD through PISA," Economics of Education Review, Elsevier, vol. 40(C), pages 140-151.
    5. Tugce Cuhadaroglu, 2013. "My Group Beats Your Group: Evaluating Non-Income Inequalities," Discussion Paper Series, School of Economics and Finance 201308, School of Economics and Finance, University of St Andrews.
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    15. Carmen Herrero & Antonio Villar, 2013. "On the Comparison of Group Performance with Categorical Data," PLOS ONE, Public Library of Science, vol. 8(12), pages 1-7, December.
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    Cited by:

    1. Caporale, Guglielmo Maria & Kang, Woo-Young & Spagnolo, Fabio & Spagnolo, Nicola, 2022. "The COVID-19 pandemic, policy responses and stock markets in the G20," International Economics, Elsevier, vol. 172(C), pages 77-90.
    2. Herrero, Carmen & Villar, Antonio, 2021. "Group decisions from individual rankings: The Borda–Condorcet rule," European Journal of Operational Research, Elsevier, vol. 291(2), pages 757-765.
    3. Tekin Kose & Kubra Avcioglu, 2023. "Gender and job satisfaction in OECD countries," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 157-164.
    4. Carmen Herrero & Antonio Villar, 2021. "Opportunity advantage between income distributions," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 19(4), pages 785-799, December.
    5. Cristina Pita & Ramón J. Torregrosa, 2023. "The Education-Job Satisfaction Paradox in the Public Sector," Public Organization Review, Springer, vol. 23(4), pages 1717-1735, December.
    6. Carmen Herrero & Antonio Villar, 2020. "Opportunity advantage: a new approach to comparing income distributions," Working Papers 516, ECINEQ, Society for the Study of Economic Inequality.

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