Multidimensional welfare rankings
Social well-being is intrinsically multidimensional. Welfare indices attempting to reduce this complexity to a unique measure abound in many areas of economics and public policy. Ranking alternatives based on such measures depends, sometimes critically, on how the different dimensions of welfare are weighted. In this paper, a theoretical framework is presented that yields a set of consensus rankings in the presence of such weight imprecision. The main idea is to consider a vector of weights as an imaginary voter submitting preferences over alternatives in the form of an ordered list. With this voting construct in mind, a rule for aggregating the preferences of many plausible choices of weights, suitably weighted by the importance attached to them, is proposed. An axiomatic characterization of the rule is provided, and its computational implementation is developed. An analytic solution is derived for an interesting special case of the model corresponding to generalized weighted means and the $\epsilon$-contamination framework of Bayesian statistics. The model is applied to the Academic Ranking of World Universities index of Shanghai University, a popular composite index measuring academic excellence.
|Date of creation:||21 Nov 2013|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- DECANCQ, Koen & LUGO, Maria Ana, .
"Weights in multidimensional indices of wellbeing: an overview,"
CORE Discussion Papers RP
2493, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Koen Decancq & María Ana Lugo, 2013. "Weights in Multidimensional Indices of Wellbeing: An Overview," Econometric Reviews, Taylor & Francis Journals, vol. 32(1), pages 7-34, January.
- Koen DECANCQ & María Ana LUGO, 2010. "Weights in multidimensional indices of well-being: an overview," Working Papers Department of Economics ces10.06, KU Leuven, Faculty of Economics and Business, Department of Economics.
- Nishimura, Kiyohiko G. & Ozaki, Hiroyuki, 2004. "Search and Knightian uncertainty," Journal of Economic Theory, Elsevier, vol. 119(2), pages 299-333, December.
- Jean-Yves Duclos & David E. Sahn & Stephen D. Younger, 2006.
"Robust Multidimensional Poverty Comparisons,"
Royal Economic Society, vol. 116(514), pages 943-968, October.
- Martin Ravallion, 2012.
"Mashup Indices of Development,"
World Bank Research Observer,
World Bank Group, vol. 27(1), pages 1-32, February.
- James E. Foster & Mark McGillivray & Suman Seth, 2011.
"Composite Indices: Rank Robustness, Statistical Association and Redundancy,"
2011-19, The George Washington University, Institute for International Economic Policy.
- James E. Foster & Mark McGillivray & Suman Seth, 2013. "Composite Indices: Rank Robustness, Statistical Association, and Redundancy," Econometric Reviews, Taylor & Francis Journals, vol. 32(1), pages 35-56, January.
- Gordon Anderson & Ian Crawford & Andrew Leicester, 2010.
"Welfare Rankings From Multivariate Data, A Non-Parametric Approach,"
tecipa-386, University of Toronto, Department of Economics.
- Anderson, Gordon & Crawford, Ian & Leicester, Andrew, 2011. "Welfare rankings from multivariate data, a nonparametric approach," Journal of Public Economics, Elsevier, vol. 95(3-4), pages 247-252, April.
- Anderson, Gordon & Crawford, Ian & Leicester, Andrew, 2011. "Welfare rankings from multivariate data, a nonparametric approach," Journal of Public Economics, Elsevier, vol. 95(3), pages 247-252.
- Conitzer, Vincent, 2012. "Should social network structure be taken into account in elections?," Mathematical Social Sciences, Elsevier, vol. 64(1), pages 100-102.
- Nishimura, Kiyohiko G. & Ozaki, Hiroyuki, 2007. "Irreversible investment and Knightian uncertainty," Journal of Economic Theory, Elsevier, vol. 136(1), pages 668-694, September.
- Sujoy Mukerji & Peter Klibanoff, 2002.
"A Smooth Model of Decision,Making Under Ambiguity,"
Economics Series Working Papers
113, University of Oxford, Department of Economics.
- Mehmet Pinar & Thanasis Stengos & Nikolas Topaloglou, 2012.
"Measuring Human Development: A Stochastic Dominance Approach,"
Working Paper Series
42_12, The Rimini Centre for Economic Analysis.
- Mehmet Pinar & Thanasis Stengos & Nikolas Topaloglou, 2013. "Measuring human development: a stochastic dominance approach," Journal of Economic Growth, Springer, vol. 18(1), pages 69-108, March.
- Mehmet Pinar & Thanasis Stengos & Nikolas Topaloglou, 2012. "Measuring human development: a stochastic dominance approach," Working Papers 1209, University of Guelph, Department of Economics and Finance.
- Alkire, Sabina & Foster, James, 2011.
"Counting and multidimensional poverty measurement,"
Journal of Public Economics,
Elsevier, vol. 95(7), pages 476-487.
- Bourguignon, F. & Chakravarty, S.R., 1998.
"The Measurement of Multidimensional Poverty,"
DELTA Working Papers
98-12, DELTA (Ecole normale supérieure).
- M. Saisana & A. Saltelli & S. Tarantola, 2005. "Uncertainty and sensitivity analysis techniques as tools for the quality assessment of composite indicators," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 168(2), pages 307-323.
- Kopylov, Igor, 2009. "Choice deferral and ambiguity aversion," Theoretical Economics, Econometric Society, vol. 4(2), June.
- Duclos, Jean-Yves & Sahn, David E. & Younger, Stephen D., 2011.
"Partial multidimensional inequality orderings,"
Journal of Public Economics,
Elsevier, vol. 95(3-4), pages 225-238, April.
- A. Atkinson, 2003. "Multidimensional Deprivation: Contrasting Social Welfare and Counting Approaches," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 1(1), pages 51-65, April.
- Ravallion, Martin, 2010.
"Troubling tradeoffs in the Human Development Index,"
Policy Research Working Paper Series
5484, The World Bank.
- Ravallion, Martin, 2012. "Troubling tradeoffs in the Human Development Index," Journal of Development Economics, Elsevier, vol. 99(2), pages 201-209.
- Saisana, Michaela & d'Hombres, Béatrice & Saltelli, Andrea, 2011. "Rickety numbers: Volatility of university rankings and policy implications," Research Policy, Elsevier, vol. 40(1), pages 165-177, February.
- Tsui Kai-Yuen, 1995. "Multidimensional Generalizations of the Relative and Absolute Inequality Indices: The Atkinson-Kolm-Sen Approach," Journal of Economic Theory, Elsevier, vol. 67(1), pages 251-265, October.
- Young, H. P., 1974. "An axiomatization of Borda's rule," Journal of Economic Theory, Elsevier, vol. 9(1), pages 43-52, September.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:51642. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.