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A Multi-Objective Assessment Of Input-Output Matrix Updating Methods

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  • Anders Hammer Strømman

Abstract

This paper shows that important insights can be lost when assessing the relative performance of balancing methods solely based on individual optima. This is demonstrated through a multi-objective assessment. A trade-off curve between RAS and sign-preserving absolute differences (SPAD) is obtained based on the 60×60 Norwegian 2001 input-output table. The trade-off curve takes on a form that is close to a step function. This demonstrates that the solution surface around the RAS and SPAD optimums are very flat. Solutions can be identified that improve on the other objective or measure with little or marginal cost to the original objective function. Motivation for the assessment is provided, the technique applied is presented and the implications of the findings are discussed in an input-output and industrial ecology context.

Suggested Citation

  • Anders Hammer Strømman, 2009. "A Multi-Objective Assessment Of Input-Output Matrix Updating Methods," Economic Systems Research, Taylor & Francis Journals, vol. 21(1), pages 81-88.
    • Handle: RePEc:taf:ecsysr:v:21:y:2009:i:1:p:81-88
    DOI: 10.1080/09535310902737228
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    References listed on IDEAS

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    1. Randall Jackson & Alan Murray, 2004. "Alternative Input-Output Matrix Updating Formulations," Economic Systems Research, Taylor & Francis Journals, vol. 16(2), pages 135-148.
    2. Jan Oosterhaven, 2005. "GRAS versus minimizing absolute and squared differences: a comment," Economic Systems Research, Taylor & Francis Journals, vol. 17(3), pages 327-331.
    3. Theo Junius & Jan Oosterhaven, 2003. "The Solution of Updating or Regionalizing a Matrix with both Positive and Negative Entries," Economic Systems Research, Taylor & Francis Journals, vol. 15(1), pages 87-96, March.
    4. Wenfeng Huang & Shintaro Kobayashi & Hajime Tanji, 2008. "Updating an Input-Output Matrix with Sign-preservation: Some Improved Objective Functions and their Solutions," Economic Systems Research, Taylor & Francis Journals, vol. 20(1), pages 111-123.
    5. Shinichiro Nakamura & Kenichi Nakajima & Yasushi Kondo & Tetsuya Nagasaka, 2007. "The Waste Input‐Output Approach to Materials Flow Analysis," Journal of Industrial Ecology, Yale University, vol. 11(4), pages 50-63, October.
    6. Manfred Lenzen & Richard Wood & Blanca Gallego, 2007. "Some Comments on the GRAS Method," Economic Systems Research, Taylor & Francis Journals, vol. 19(4), pages 461-465.
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