Ranking the Economic Freedom of North America using dominetrics
AbstractThe Economic Freedom of North America is a widely used political economy indicator related to outcomes such as entrepreneurship, equity prices, housing prices, and migration. As a result, relative rankings are often mentioned in policy discussions. The ranking of regions based on economic freedom, however, involves many layers of subjectivity. We employ a ranking methodology called ‘dominetrics' to remove one layer of subjectivity. Doing so creates six rankings reflecting different importance orderings of the underlying spheres of economic freedom. Our results show that preferences regarding which components of economic freedoms are most important influence final rankings.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 32 (2012)
Issue (Month): 3 ()
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Dominetrics; Rankings; Economic Freedom;
Find related papers by JEL classification:
- H1 - Public Economics - - Structure and Scope of Government
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
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