In many composite indicators all variables are given the same weight when there are no statistical or empirical grounds for choosing a different scheme. ![]() Moreover, the reader should bear in mind that, no matter which method is used, weights are essentially value judgments and have the property to make explicit the objectives underlying the construction of a composite.Ĭommonly used methods for weighting include the following: This is why weighting models need to be made explicit and transparent. ![]() Weights usually have an important impact on the composite indicator value and on the resulting ranking, especially whenever higher weight is assigned to indicators on which some countries excel or fail. Different weights may be assigned to component series in order to reflect their economic significance (collection costs, coverage, reliability and economic reason), statistical adequacy, cyclical conformity, speed of available data, etc. ![]() No uniformly agreed methodology exists to weight individual indicators before aggregating them into a composite indicator.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |