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Title: Constructing composite indicators with Shannon entropy: The case of Human Development Index
Authors: Karagiannis, Roxani
Karagiannis, Giannis
Type: Article
Subjects: FRASCATI::Social sciences
FRASCATI::Social sciences
Keywords: Composite indicators
Shannon entropy
Issue Date: Jun-2020
Publisher: Elsevier
Source: Socio-Economic Planning Sciences
Volume: 70
First Page: 100701
Abstract: In this paper, we propose a weighting scheme for constructing composite indicators based on Shannon entropy. Its main advantages are that it delivers a set of common weights across decision-making units that allow for complete comparison and ranking and is easy to implement. It can also be extended to provide group specific weights. We explore the potential of the suggested weighing method by using it to re-estimate the Human Development Index
ISSN: 0038-0121
Other Identifiers: 10.1016/j.seps.2019.03.007
Appears in Collections:Department of Economics

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