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A maximum entropy perspective of Pena’s synthetic indicators

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Abstract

This paper uses mixed combinatorial-cum-real particle swarm method to obtain a heuristically optimal order in which the constituent variables can be arranged so as to yield some generalized maximum entropy synthetic indicators that represent the constituent variables in the best information-theoretic sense. It may help resolve the arbitrariness and indeterminacy of Pena’s method of construction of a synthetic indicator which at present is very sensitive to the order in which the constituent variables (whose linear aggregation yields the synthetic indicator) are arranged.

Suggested Citation

  • Mishra, SK, 2012. "A maximum entropy perspective of Pena’s synthetic indicators," MPRA Paper 37797, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:37797
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    References listed on IDEAS

    as
    1. 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.
    2. Mishra, SK, 2007. "A Note on Human Development Indices with Income Equalities," MPRA Paper 3513, University Library of Munich, Germany.
    3. 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.
    4. Mishra, SK, 2006. "Performance of Differential Evolution and Particle Swarm Methods on Some Relatively Harder Multi-modal Benchmark Functions," MPRA Paper 449, University Library of Munich, Germany.
    5. Mishra, SK, 2012. "A note on construction of heuristically optimal Pena’s synthetic indicators by the particle swarm method of global optimization," MPRA Paper 37625, 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. "A comparative study of trends in globalization using different synthetic indicators," MPRA Paper 38028, University Library of Munich, Germany.
    3. 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.

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    More about this item

    Keywords

    Synthetic indicators; Composite indices; Pena’s distance; Mixed Combinatorial Particle swarm; Sharma-Mittal entropy; Rényi entropy; Tsallis entropy. Kaniadakis entropy; Abe entropy;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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