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Weights in multidimensional indices of wellbeing: an overview

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  • DECANCQ, Koen
  • LUGO, Maria Ana

Abstract

Multidimensional indices are becoming increasingly important instruments to assess the well-being of societies. They move beyond the focus on a single indicator and yet, are easy to present and communicate. A crucial step in the construction of a multidimensional index of well-being is the selection of the relative weights for the different dimensions. The aim of this paper is to study the role of these weights and to critically survey eight different approaches to set them. We categorize the approaches in three classes: data-driven, normative and hybrid weighting, and compare their respective advantages and drawbacks.
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Suggested Citation

  • DECANCQ, Koen & LUGO, Maria Ana, 2013. "Weights in multidimensional indices of wellbeing: an overview," CORE Discussion Papers RP 2493, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvrp:2493
    Note: In : Econometric Reviews, 32(1), 7-34, 2013
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    File URL: http://dx.doi.org/10.1080/07474938.2012.690641
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    References listed on IDEAS

    as
    1. Hans de Kruijk & Martine Rutten, 2007. "WEIGHTING DIMENSIONS OF POVERTY BASED ON PEOPLES PRIORITIES: Constructing a Composite Poverty Index for the Maldives," IIDE Discussion Papers 20070801, Institue for International and Development Economics.
    2. E. Schokkaert & E. Verhofstadt & L. Van Ootegem & -, 2009. "Measuring job quality and job satisfaction," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/620, Ghent University, Faculty of Economics and Business Administration.
    3. Guio, Anne-Catherine & Fusco, Alessio & Marlier, Eric, 2009. "A European Union Approach to Material Deprivation using EU-SILC and Eurobarometer data," IRISS Working Paper Series 2009-19, IRISS at CEPS/INSTEAD.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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