IDEAS home Printed from https://ideas.repec.org/a/vrs/eaiada/v25y2021i1p49-62n2.html
   My bibliography  Save this article

A Proposal of Data – Driven Method for Determining the Weights of Composite Indicators

Author

Listed:
  • Kądziołka Kinga

    (WSB University, Dąbrowa Górnicza, Poland)

Abstract

The paper proposed a simulation method for determining the weights of components of taxonomic measures. The method takes into account the degree of similarity of the final ranking to other rankings and other properties, e.g. the clustering ability of the measure. The analyses were performed on publicly available data published by the General Statistic Office, concerning selected characteristics of the labour market in Poland at the level of subregions. The results obtained by the proposed method depend on the initial set of weights vectors. Due to the fact that the proposed method does not provide an invariant solution for a given data set, the stability of the rankings obtained using this method was assessed. There was high consistency in the orderings of objects obtained in the consecutive repetitions of the procedure.

Suggested Citation

  • Kądziołka Kinga, 2021. "A Proposal of Data – Driven Method for Determining the Weights of Composite Indicators," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 25(1), pages 49-62, March.
    • Handle: RePEc:vrs:eaiada:v:25:y:2021:i:1:p:49-62:n:2
    DOI: 10.15611/eada.2021.1.03
    as

    Download full text from publisher

    File URL: https://doi.org/10.15611/eada.2021.1.03
    Download Restriction: no
    File URL: https://libkey.io/10.15611/eada.2021.1.03?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Badach, Elżbieta & Zioło, Monika, 2015. "Badanie Właściwości Populacji Bezrobotnych Na Lokalnych Rynkach Pracy Województwa Małopolskiego Z Wykorzystaniem Taksonomii Wrocławskiej," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2015(3), June.
    2. Salvatore Greco & Alessio Ishizaka & Menelaos Tasiou & Gianpiero Torrisi, 2019. "On the Methodological Framework of Composite Indices: A Review of the Issues of Weighting, Aggregation, and Robustness," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 141(1), pages 61-94, January.
    3. Anna Tatarczak & Oleksandra Boichuk, 2018. "The multivariate techniques in evaluation of unemployment analysis of Polish regions," Oeconomia Copernicana, Institute of Economic Research, vol. 9(3), pages 361-380, September.
    4. Kukuła, Karol & Luty, Lidia, 2018. "O wyborze metody porządkowania liniowego do oceny gospodarki odpadami w Polsce w ujęciu przestrzennym," Problems of World Agriculture / Problemy Rolnictwa Światowego, Warsaw University of Life Sciences, vol. 18(33, Part ), June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kądziołka Kinga, 2021. "Ranking and Classification of Cryptocurrency Exchanges Using the Methods of a Multidimensional Comparative Analysis," Folia Oeconomica Stetinensia, Sciendo, vol. 21(2), pages 38-56, December.
    2. Olga Bogdanov & Veljko Jeremiæ & Sandra Jednak & Mladen Èudanov, 2019. "Scrutinizing the Smart City Index: a multivariate statistical approach," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 37(2), pages 777-799.
    3. Mariateresa Ciommi & Chiara Gigliarano & Francesco M. Chelli & Mauro Gallegati, 2022. "It is the Total that Does [Not] Make the Sum: Nature, Economy and Society in the Equitable and Sustainable Well-Being of the Italian Provinces," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 161(2), pages 491-522, June.
    4. Rajko Tomaš, 2022. "Measurement of the Concentration of Potential Quality of Life in Local Communities," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(1), pages 79-109, August.
    5. Aleksandra Maksimovska & Aleksandar Stojkov, 2019. "Composite Indicator of Social Responsiveness of Local Governments: An Empirical Mapping of the Networked Community Governance Paradigm," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 144(2), pages 669-706, July.
    6. Martín-García, Jaime & Gómez-Limón, José A. & Arriaza, Manuel, 2024. "Conversion to organic farming: Does it change the economic and environmental performance of fruit farms?," Ecological Economics, Elsevier, vol. 220(C).
    7. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2018. "σ-µ efficiency analysis: A new methodology for evaluating units through composite indices," MPRA Paper 83569, University Library of Munich, Germany.
    8. Armando Silva & Zbigniew Korzeb & Pawe? Niedzió?ka, 2021. "Impact of the COVID-19 crisis on the Portuguese banking system. Linear ordering method," Estudios Gerenciales, Universidad Icesi, vol. 37(159), pages 226-241, June.
    9. Fusco, Elisa, 2023. "Potential improvements approach in composite indicators construction: The Multi-directional Benefit of the Doubt model," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).
    10. Khatab Alqararah, 2023. "Assessing the robustness of composite indicators: the case of the Global Innovation Index," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-22, December.
    11. Samy Katumba & Julia Kadt & Mark Orkin & Paul Fatti, 2022. "Construction of a Reflective Quality of Life Index for Gauteng Province in South Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 164(1), pages 373-408, November.
    12. Joachim Maes & Adrián G. Bruzón & José I. Barredo & Sara Vallecillo & Peter Vogt & Inés Marí Rivero & Fernando Santos-Martín, 2023. "Accounting for forest condition in Europe based on an international statistical standard," Nature Communications, Nature, vol. 14(1), pages 1-15, December.
    13. Odile Mackett, 2022. "Decent Work in the South African Macroeconomy: Who are The Winners and Losers?," Humanistic Management Journal, Springer, vol. 7(2), pages 277-305, October.
    14. Bartzokas-Tsiompras, Alexandros & Bakogiannis, Efthimios & Nikitas, Alexandros, 2023. "Global microscale walkability ratings and rankings: A novel composite indicator for 59 European city centres," Journal of Transport Geography, Elsevier, vol. 111(C).
    15. Ewa Roszkowska & Bartłomiej Jefmański, 2021. "Interval-Valued Intuitionistic Fuzzy Synthetic Measure (I-VIFSM) Based on Hellwig’s Approach in the Analysis of Survey Data," Mathematics, MDPI, vol. 9(3), pages 1-17, January.
    16. Qi, Yue & Liao, Kezhi & Liu, Tongyang & Zhang, Yu, 2022. "Originating multiple-objective portfolio selection by counter-COVID measures and analytically instigating robust optimization by mean-parameterized nondominated paths," Operations Research Perspectives, Elsevier, vol. 9(C).
    17. Carmen García-Peña & Moneyba González-Medina & Jose Manuel Diaz-Sarachaga, 2021. "Assessment of the Governance Dimension in the Frame of the 2030 Agenda: Evidence from 100 Spanish Cities," Sustainability, MDPI, vol. 13(10), pages 1-21, May.
    18. Stephen T. Homer, 2023. "Perceptions of smart sustainable cities: a scale development study," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(4), pages 3363-3388, August.
    19. Ludmila-Daniela MANEA & Iulian Adrian SORCARU, 2021. "Cluster Analysis on the Unemployment Rate during Lockdown Period," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 29-36.
    20. José Manuel Cabello & Francisco Ruiz & Blanca Pérez-Gladish, 2021. "An Alternative Aggregation Process for Composite Indexes: An Application to the Heritage Foundation Economic Freedom Index," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 153(2), pages 443-467, January.

    More about this item

    Keywords

    taxonomic measure; composite indicator; weighting schema; semi-standard deviation; labour market; Spearman’s corelation coefficient;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:eaiada:v:25:y:2021:i:1:p:49-62:n:2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.