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Constructing a Knowledge Economy Composite Indicator with Imprecise Data

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Author Info

  • Cherchye, Laurens

    (Katholieke Universiteit Leuven, Belgium)

  • Moesen, Willem

    (Katholieke Universiteit Leuven, Belgium)

  • Rogge, Nicky

    ()
    (Hogeschool-Universiteit Brussel (HUB), Belgium
    Katholieke Universiteit Leuven, Belgium)

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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File URL: https://lirias.hubrussel.be/bitstream/123456789/2468/1/09HRP16.pdf
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Bibliographic Info

Paper provided by Hogeschool-Universiteit Brussel, Faculteit Economie en Management in its series Working Papers with number 2009/16.

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Length: 24 pages
Date of creation: Jul 2009
Date of revision:
Handle: RePEc:hub:wpecon:200916

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Web page: http://research.hubrussel.be
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Related research

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

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References

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  1. Frederik Booysen, 2002. "An Overview and Evaluation of Composite Indices of Development," Social Indicators Research, Springer, vol. 59(2), pages 115-151, August.
  2. Cherchye, Laurens & Knox Lovell, C.A. & Moesen, Wim & Van Puyenbroeck, Tom, 2007. "One market, one number? A composite indicator assessment of EU internal market dynamics," European Economic Review, Elsevier, vol. 51(3), pages 749-779, April.
  3. Léopold Simar & Paul Wilson, 2000. "Statistical Inference in Nonparametric Frontier Models: The State of the Art," Journal of Productivity Analysis, Springer, vol. 13(1), pages 49-78, January.
  4. Michela Nardo & Michaela Saisana & Andrea Saltelli & Stefano Tarantola & Anders Hoffman & Enrico Giovannini, 2005. "Handbook on Constructing Composite Indicators: Methodology and User Guide," OECD Statistics Working Papers 2005/3, OECD Publishing.
  5. Laurens Cherchye & & Timo Kuosmanen, 2002. "Benchmarking Sustainable Development: A Synthetic Meta-index Approach," Others 0210001, EconWPA, revised 08 Oct 2002.
  6. 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.
  7. 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.
  8. 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.
  9. Laurens Cherchye & Wim Moesen & Tom Puyenbroeck, 2004. "Legitimately Diverse, yet Comparable: On Synthesizing Social Inclusion Performance in the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 42(5), pages 919-955, December.
  10. 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.
  11. Michael Freudenberg, 2003. "Composite Indicators of Country Performance: A Critical Assessment," OECD Science, Technology and Industry Working Papers 2003/16, OECD Publishing.
  12. Laurens Cherchye & Wim Moesen & Nicky Rogge & Tom Van Puyenbroeck & Michaela Saisana & A. Saltelli & R. Liska & S. Tarantola, 2006. "Creating Composite Indicators with DEA and Robustness Analysis: the case of the Technology Achievement Index," Public Economics Working Paper Series ces0613, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics.
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