Ratings and rankings: voodoo or science?
TLDR
In this article, the authors measure the importance of a given variable within existing composite indicators via Karl Pearson's "correlation ratio"; they call this measure the main effect, and they discuss to what extent the mapping from nominal weights to main effects can be inverted.Abstract:
Summary. Composite indicators aggregate a set of variables by using weights which are understood to reflect the variables’ importance in the index. We propose to measure the importance of a given variable within existing composite indicators via Karl Pearson's ‘correlation ratio’; we call this measure the ‘main effect’. Because socio-economic variables are heteroscedastic and correlated, relative nominal weights are hardly ever found to match relative main effects; we propose to summarize their discrepancy with a divergence measure. We discuss to what extent the mapping from nominal weights to main effects can be inverted. This analysis is applied to six composite indicators, including the human development index and two popular league tables of university performance. It is found that in many cases the declared importance of single indicators and their main effect are very different, and that the data correlation structure often prevents developers from obtaining the stated importance, even when modifying the nominal weights in the set of non-negative numbers with unit sum.read more
Citations
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Journal ArticleDOI
Competitiveness in European Regions and Top-Ranked Universities: Do Local Universities Matter?
Francisco Mas Verdú,Norat Roig-Tierno,Paula Andrea Nieto-Alemán,José María García Álvarez-Coque +3 more
TL;DR: In this article, the authors proposed a method to support the work of this article which was supported by grants RTI2018-093791-B-C21 and RTI 2018-09 3791 B-C22 funded by the Ministerio de Ciencia, Innovación y Universidades and FEDER.
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Designing Two-Dimensional Halide Perovskites Based on High-Throughput Calculations and Machine Learning.
Wen-long Hu,Lei Zhang,Zheng Pan +2 more
TL;DR: In this article , the authors performed high-throughput calculations and machine-learning analysis for ion adsorption on two-dimensional A2BX4 halide perovskites.
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Processes and stages of differentiation in European higher education
Valentina Goglio,Marino Regini +1 more
TL;DR: In this paper, the authors argue that these processes have gone through two main stages and in two different directions, each of which is showing its limits in the long run, and therefore, they expect a third stage of differentiation, which will be both internal to individual higher education institutions and multi-dimensional concerning functions performed.
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Adapting Thurstone’s Law of Comparative Judgment to fuse preference orderings in manufacturing applications
TL;DR: The goal of this contribution is to develop a new technique that combines the Thurstone’s Law of Comparative Judgment with an ad hoc response mode based on preference orderings and is applicable to a variety of practical contexts in the field of manufacturing.
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CISEF: A composite index of social, environmental and financial performance
TL;DR: The evaluation process is enhanced with analytics of a more detailed hierarchical view of performance, fine-tuning of the evaluation process, and implications and suggestions to the senior executive team of a bank’s clients.
References
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Book
Econometric Analysis of Cross Section and Panel Data
TL;DR: This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001).
Book ChapterDOI
The Analytic Hierarchy Process
Thomas L. Saaty,Kevin P. Kearns +1 more
TL;DR: Analytic Hierarchy Process (AHP) as mentioned in this paper is a systematic procedure for representing the elements of any problem hierarchically, which organizes the basic rationality by breaking down a problem into its smaller constituent parts and then guides decision makers through a series of pairwise comparison judgments to express the relative strength or intensity of impact of the elements in the hierarchy.
Report by the commission on the measurement of economic performance and social progress
TL;DR: As a measure of market capacity and not economic well-being, the authors pointed out that the two can lead to misleading indications about how well-off people are and entail the wrong policy decisions.
Book
Global Sensitivity Analysis: The Primer
TL;DR: In this article, the authors present a method for setting up Uncertainty and Sensitivity Analyses using Monte Carlo and Linear Regression (MCF) models and a set of experiments.
Journal ArticleDOI
The analytic hierarchy process—what it is and how it is used
TL;DR: In this paper, the Analytic Hierarchy Process (AHP) is introduced as a method of measurement with ratio scales and illustrated with two examples, and the axioms and some of the central theoretical underpinnings of the theory are discussed.