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Constructing a knowledge economy composite indicator with imprecise data

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  • Laurens CHERCHYE
  • Willem MOESEN
  • Nicky ROGGE
  • Tom VAN PUYENBROECK

Abstract

This paper focuses on the construction of a composite indicator for the knowledge based economy using imprecise data. Specifically, for some indicators we only have information on the bounds of the interval within which the true value is believed to lie. The proposed approach is based on a recent offspring in the Data Envelopment Analysis literature. Given the setting of evaluating countries, this paper discerns a ‘strong country in weak environment’ and ‘weak country in strong environment’ scenario resulting in respectively an upper and lower bound on countries’ performance. Accordingly, we derive a classification of ‘benchmark countries’, ‘potential benchmark countries’, and ‘countries open to improvement’.

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Bibliographic Info

Paper provided by Katholieke Universiteit Leuven, Centrum voor Economische Studiën in its series Center for Economic Studies - Discussion papers with number ces09.15.

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Date of creation: Jul 2009
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Handle: RePEc:ete:ceswps:ces09.15

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Keywords: knowledge economy indicators; composite indicators; Multiple Imputation; Benefit of the Doubt; weight restrictions; Data Envelopment Analysis; data impreciseness;

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  1. Simar, L. & Wilson, P.W., 1999. "Statistical Inference in Nonparametric Frontier Models: the State of the Art," Papers 9904, Catholique de Louvain - Institut de statistique.
  2. Laurens Cherchye & Wim Moesen & Tom Van Puyenbroeck, 2003. "Legitimately Diverse, yet Comparable: On Synthesising Social Inclusion Performance in the EU," Public Economics Working Paper Series ces0301, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics.
  3. Laurens Cherchye & Willem Moesen & Nicky Rogge & Tom Puyenbroeck, 2007. "An Introduction to ‘Benefit of the Doubt’ Composite Indicators," Social Indicators Research, Springer, vol. 82(1), pages 111-145, May.
  4. Cherchye, Laurens & Moesen, Willem & Rogge, Nicky & Van Puyenbroeck, Tom & Saisana, M & Saltelli, A & Liska, R & Tarantola, S, 2006. "Creating composite indicators with DEA and robustness analysis: The case of the technology achievement index," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/119295, Katholieke Universiteit Leuven.
  5. Knox Lovell, C. A. & Pastor, Jesus T. & Turner, Judi A., 1995. "Measuring macroeconomic performance in the OECD: A comparison of European and non-European countries," European Journal of Operational Research, Elsevier, vol. 87(3), pages 507-518, December.
  6. Cherchye, Laurens & Knox, ovell, CA & Moesen, Willem & Van Puyenbroeck, Tom, 2005. "One market, one number? A composite indicator assessment of EU internal market dynamics," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/119340, Katholieke Universiteit Leuven.
  7. Despotis, Dimitris K. & Smirlis, Yiannis G., 2002. "Data envelopment analysis with imprecise data," European Journal of Operational Research, Elsevier, vol. 140(1), pages 24-36, July.
  8. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
  9. Michael Freudenberg, 2003. "Composite Indicators of Country Performance: A Critical Assessment," OECD Science, Technology and Industry Working Papers 2003/16, OECD Publishing.
  10. Cherchye, Laurens & Kuosmanen, Timo, 2004. "Benchmarking Sustainable Development: A Synthetic Meta-index Approach," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  11. Frederik Booysen, 2002. "An Overview and Evaluation of Composite Indices of Development," Social Indicators Research, Springer, vol. 59(2), pages 115-151, August.
  12. Storrie, Donald & Bjurek, Hans, 2000. "Benchmarking European labour market performance with efficiency frontier techniques," Discussion Papers, Research Unit: Labor Market Policy and Employment FS I 00-211, Social Science Research Center Berlin (WZB).
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