Who Meets the Standards? A Multidimensional Approach
We consider here the evaluation of the performance of a society with respect to a given set of targets. We provide a characterization of an intuitive evaluation formula that consists of the mean of the achievement to target ratio. The criterion so obtained permits one not only to endogenously determine who meets the standards and who does not, but also to quantify the degree of fulfillment. Two empirical illustrations are provided: compliance with the European Union Stability and Growth Pact, on the one hand, and the evaluation of research excellence in Spanish universities, on the other.
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