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Properties of some generalized means for positive sequences

Author

Listed:
  • Marco Corazza

    (Dept. of Economics, Università Ca' Foscari Venice)

  • Giovanni Fasano

    (Dept. of Management, Università Ca' Foscari Venice)

  • Daniela Favaretto

    (Dept. of Management, Università Ca' Foscari Venice)

  • Silvio Giove

    (Dept. of Economics, Università Ca' Foscari Venice)

Abstract

This paper proposes a simple procedure, in order to aggregate a finite number of real nonnegative values into a unique indicator. Possible applications of this tool can be found in social sciences, including demography, sociology, etc. In particular, the indicator may represent a generalized mean, to be used as an aggregate measure combining several inhomogeneous parameters. Observe that some alternatives to this approach, including complex multicriteria or multiobjective methods, are often discarded by stakeholders (say politicians, public administrators, managers, etc.), since the latters are typically keen on taking decisions based on a reduced number of parameters (possibly only one). Hence, administrators often show some reluctance to adopt those methods which provide multiple alternatives, e.g. a Pareto front, since this fact implies an additional process of selection.

Suggested Citation

  • Marco Corazza & Giovanni Fasano & Daniela Favaretto & Silvio Giove, 2019. "Properties of some generalized means for positive sequences," Working Papers 05, Venice School of Management - Department of Management, Università Ca' Foscari Venezia.
    • Handle: RePEc:vnm:wpdman:168
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    References listed on IDEAS

    as
    1. Giovanni Bertin & Ludovico Carrino & Silvio Giove, 2018. "The Italian Regional Well-Being in a Multi-expert Non-additive Perspective," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 135(1), pages 15-51, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Aggregation of indicators; Ranking among measures; Mean weighted values; Concave problems;
    All these keywords.

    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools

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