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A New Weighting Approach to Non-Parametric Composite Indices Compared with Principal Components Analysis
Jönköping University, Jönköping International Business School, JIBS, Economics.ORCID iD: 0000-0002-7902-4683
University of Kurdistan, Iran.
2017 (English)In: International Journal of Industrial Mathematics, ISSN 2008-5621, Vol. 9, no 1, p. 59-73Article in journal (Refereed) Published
Abstract [en]

Introduction of Human Development Index (HDI) by UNDP in early 1990 followed a surge in use of non-parametric and parametric indices for measurement and comparison of countries performance in development, globalization, competition, well-being and etc. The HDI is a composite index of three indicators. Its components are to reflect three major dimensions of human development: longevity, knowledge and access to resources represented by GDP per capita, educational attainment and life expectancy. In recent years additional gender and poverty aspects are included. A known example of the non-parametric index is the HDI, while Principal Components Analysis (PCA) and Factor Analysis (FA) are among the parametric counterparts. The indices differ mainly in respect to weighting the indicators in their aggregation. The non-parametric index assumes the weights, while the parametric approach estimates them. In this research, it is aimed to purpose a new weighting approach to non-parametric indices when they are used simultaneous with principal components analysis.

Place, publisher, year, edition, pages
Islamic Azad University , 2017. Vol. 9, no 1, p. 59-73
Keywords [en]
Principal Components Analysis, Non-Parametric Indicators, Composite Indices, Weighting Schemes
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-34364Local ID: IHHÖvrigtISOAI: oai:DiVA.org:hj-34364DiVA, id: diva2:1057917
Available from: 2016-12-19 Created: 2016-12-19 Last updated: 2017-02-08Bibliographically approved

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CiteExportLink to record
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