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Title: A VEA Benefit-of-the-Doubt Model for the HDI
Authors: Ravanos, Panagiotis
Karagiannis, Giannis
Type: Article
Subjects: FRASCATI::Social sciences
FRASCATI::Social sciences
Keywords: Value efficiency analysis
Most preferred solution
Human development index
Issue Date: 2021
Publisher: Springer
Source: Social Indicators Research
Volume: 155
Issue: 1
First Page: 27
Last Page: 46
Abstract: The Benefit-of-the-Doubt (BoD) model for constructing composite indicators does not account for prior judgments concerning the relative importance of individual indicators. In this paper we combine the BoD model with Value Efficiency Analysis to propose a new formulation that incorporates external preferences and value judgments by means of a “model” decision-making unit which serves as the benchmark for all other units. We explore the potential of the proposed model by using it to re-estimate the United Nations Human Development Index.
ISSN: 0303-8300
Other Identifiers: 10.1007/s11205-020-02589-0
Appears in Collections:Department of Economics

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