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Alternative versions of the global competitive industrial performance ranking constructed by methods from social choice theory

Author

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  • Subochev, Andrey
  • Zakhlebin, Igor

Abstract

The Competitive Industrial Performance index (developed by experts of the UNIDO) is designed as a measure of national competitiveness. Index is an aggregate of eight observable variables, representing different dimensions of competitive industrial performance. Instead of using a cardinal aggregation function, what CIP’s authors do, it is proposed to apply ordinal ranking methods borrowed from social choice: either direct ranking methods based on the majority relation (e.g. the Copeland rule, the Markovian method) or a multistage procedure of selection and exclusion of the best alternatives, as determined by a majority relation-based social choice solution concept (tournament solution), such as the uncovered set and the minimal externally stable set. The same method of binary comparisons based on the majority rule is used to analyze rank correlations. It is demonstrated that the ranking is robust but some of the new aggregate rankings represent the set of criteria better than the original ranking based on the CIP.

Suggested Citation

  • Subochev, Andrey & Zakhlebin, Igor, 2014. "Alternative versions of the global competitive industrial performance ranking constructed by methods from social choice theory," MPRA Paper 67462, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:67462
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    References listed on IDEAS

    as
    1. Schwartz, Thomas, 1977. "Collective Choice, Separation of Issues and Vote Trading," American Political Science Review, Cambridge University Press, vol. 71(3), pages 999-1010, September.
    2. Fuad Aleskerov & Andrey Subochev, 2016. "Matrix-vector representation of various solution concepts," Papers 1607.02378, arXiv.org.
    3. Subochev, Andrey, 2008. "Dominant, weakly stable, uncovered sets: properties and extensions," MPRA Paper 53421, University Library of Munich, Germany.
    4. Smith, John H, 1973. "Aggregation of Preferences with Variable Electorate," Econometrica, Econometric Society, vol. 41(6), pages 1027-1041, November.
    5. Kenneth J. Arrow & Herve Raynaud, 1986. "Social Choice and Multicriterion Decision-Making," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262511754, April.
    6. I. Good, 1971. "A note on condorcet sets," Public Choice, Springer, vol. 10(1), pages 97-101, March.
    7. Fuad Aleskerov & Andrey Subochev, 2013. "Modeling optimal social choice: matrix-vector representation of various solution concepts based on majority rule," Journal of Global Optimization, Springer, vol. 56(2), pages 737-756, June.
    8. Fuad T. Aleskerov & Vladimir V. Pislyakov & Andrey N. Subochev, 2014. "Ranking Journals In Economics, Management And Political Science By Social Choice Theory Methods," HSE Working papers WP BRP 27/STI/2014, National Research University Higher School of Economics.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Competitive Industrial Performance index; CIP; UNIDO; national competitiveness; aggregate index; competitive industrial performance; ordinal aggregation; social choice; ranking method; majority relation; Copeland rule; Markovian method; social choice function; tournament solution; uncovered set; externally stable set; binary comparison; rank correlation; Kendall distance;
    All these keywords.

    JEL classification:

    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • F01 - International Economics - - General - - - Global Outlook
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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