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Why we like the ECI+ algorithm

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Listed:
  • Andrea Gabrielli
  • Matthieu Cristelli
  • Dario Mazzilli
  • Andrea Tacchella
  • Andrea Zaccaria
  • Luciano Pietronero

Abstract

Recently a measure for Economic Complexity named ECI+ has been proposed by Albeaik et al. We like the ECI+ algorithm because it is mathematically identical to the Fitness algorithm, the measure for Economic Complexity we introduced in 2012. We demonstrate that the mathematical structure of ECI+ is strictly equivalent to that of Fitness (up to normalization and rescaling). We then show how the claims of Albeaik et al. about the ability of Fitness to describe the Economic Complexity of a country are incorrect. Finally, we hypothesize how the wrong results reported by these authors could have been obtained by not iterating the algorithm.

Suggested Citation

  • Andrea Gabrielli & Matthieu Cristelli & Dario Mazzilli & Andrea Tacchella & Andrea Zaccaria & Luciano Pietronero, 2017. "Why we like the ECI+ algorithm," Papers 1708.01161, arXiv.org.
    • Handle: RePEc:arx:papers:1708.01161
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    References listed on IDEAS

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    1. Gaulier, Guillaume & Zignago, Soledad, 2004. "Notes on BACI (analytical database of international trade). 1989-2002 version," MPRA Paper 32401, University Library of Munich, Germany.
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    1. Saleh Albeaik & Mary Kaltenberg & Mansour Alsaleh & C'esar A. Hidalgo, 2017. "729 new measures of economic complexity (Addendum to Improving the Economic Complexity Index)," Papers 1708.04107, arXiv.org.
    2. Freire, Clovis, 2019. "Economic diversification: A model of structural economic dynamics and endogenous technological change," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 13-28.
    3. Luciano Pietronero & Andrea Gabrielli & Andrea Zaccaria, 2019. "Economic Complexity: why we like "Complexity weighted diversification"," Papers 1912.10955, arXiv.org.
    4. Benedikt S. L. Fritz & Robert A. Manduca, 2019. "The Economic Complexity of US Metropolitan Areas," Papers 1901.08112, arXiv.org.
    5. Fritz, Benedikt & Manduca, Robert, 2021. "The Economic Complexity of US Metropolitan Areas," SocArXiv 2gw9c, Center for Open Science.
    6. Luciano Pietronero & Matthieu Cristelli & Andrea Gabrielli & Dario Mazzilli & Emanuele Pugliese & Andrea Tacchella & Andrea Zaccaria, 2017. "Economic Complexity: "Buttarla in caciara" vs a constructive approach," Papers 1709.05272, arXiv.org.

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