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A note on construction of heuristically optimal Pena’s synthetic indicators by the particle swarm method of global optimization

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  • Mishra, SK

Abstract

Pena’s method of construction of a synthetic indicator is very sensitive to the order in which the constituent variables (whose linear aggregation yields the synthetic indicator) are arranged. Due to this, Pena’s method can at present give only an arbitrary synthetic indicator whose representativeness is indeterminate and uncertain, especially when the number of constituent variables is not very small. This paper uses discrete global optimization method based on the Particle Swarms to obtain a heuristically optimal order in which the constituent variables can be arranged so as to yield Pena’s synthetic indicator that maximizes the minimal absolute (or squared) correlation with its constituent variables.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 37625.

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Date of creation: 24 Mar 2012
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Handle: RePEc:pra:mprapa:37625

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Keywords: Synthetic indicators; Pena’s distance; Particle swarm; Discrete Global Optimization; Composite indices; Maxi-min absolute correlation;

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References

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  1. Mishra, SK, 2007. "A Comparative Study of Various Inclusive Indices and the Index Constructed by the Principal Components Analysis," MPRA Paper 3377, University Library of Munich, Germany.
  2. Mishra, SK, 2012. "A note on the indeterminacy and arbitrariness of pena’s method of construction of synthetic indicators," MPRA Paper 37534, University Library of Munich, Germany.
  3. Mishra, SK, 2006. "Performance of Differential Evolution and Particle Swarm Methods on Some Relatively Harder Multi-modal Benchmark Functions," MPRA Paper 1743, University Library of Munich, Germany.
  4. Mishra, SK, 2007. "A Note on Human Development Indices with Income Equalities," MPRA Paper 3513, University Library of Munich, Germany.
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Cited by:
  1. Nayak, Purusottam & Mishra, SK, 2012. "Efficiency of Pena’s P2 Distance in Construction of Human Development Indices," MPRA Paper 39022, University Library of Munich, Germany.
  2. Mishra, SK, 2012. "Construction of Pena’s DP2-based ordinal synthetic indicator when partial indicators are rank scores," MPRA Paper 39088, University Library of Munich, Germany.
  3. Mishra, SK, 2012. "A comparative study of trends in globalization using different synthetic indicators," MPRA Paper 38028, University Library of Munich, Germany.
  4. Santanu Ray, 2014. "An Index of Maternal and Child Healthcare Status in India: Measuring Inter- and Intra-State Variations from Capability Perspectives," Social Indicators Research, Springer, Springer, vol. 117(1), pages 195-207, May.
  5. Mishra, SK, 2012. "A maximum entropy perspective of Pena’s synthetic indicators," MPRA Paper 37797, University Library of Munich, Germany.

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