Construction of a new DEA-based Composite Index for Circular Economy Assessment in the EU

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F24%3A00137016" target="_blank" >RIV/00216224:14560/24:00137016 - isvavai.cz</a>
Result on the web
<a href="https://mme2024.ujep.cz/wp-content/uploads/2024/08/MME_2024_Conference_Proceedings-V2.pdf" target="_blank" >https://mme2024.ujep.cz/wp-content/uploads/2024/08/MME_2024_Conference_Proceedings-V2.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Construction of a new DEA-based Composite Index for Circular Economy Assessment in the EU
Original language description
In recent years, there has been growing interest in exploring the concept of the circular economy as a potential solution for enhancing the sustainability of our economic system. The development of circular economy indicators provides valuable insights allowing the evaluation of the progress on the path to circularity and sustainability. On the other hand, composite indicators often stir controversies about the unavoidable subjectivity that is connected with their construction. Usually, the normalized sub-indicators are just added, sometimes with certain weights associated with the sub-indicators. This study addresses existing research gap by focusing on the need for more robust and fair composite indices for circular economy assessment. We depart from usual approach and compute alternate composite index for EU countries using flexible weights obtained by Data Envelopment Analysis. Using flexible weighting can promote buy-in from relevant stakeholders, making the final results more widely accepted. Additionally, DEA-based indicator provides more information on the relative performance of evaluated units and offers implications such as identifying target values of sub-indicators or selecting peer units for benchmarking purposes.
Czech name
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Czech description
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Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 42nd International Conference on Mathematical Methods in Economics
ISBN
9788075614827
ISSN
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e-ISSN
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Number of pages
7
Pages from-to
219-225
Publisher name
The Czech Society for Operations Research
Place of publication
Praha
Event location
Ústí nad Labem
Event date
Sep 11, 2024
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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