The Importance of Variables in Composite Indices: A Contribution to the Methodology and Application to Development Indices

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989592%3A15310%2F19%3A73596277" target="_blank" >RIV/61989592:15310/19:73596277 - isvavai.cz</a>

Výsledek na webu

<a href="https://link.springer.com/article/10.1007/s11205-019-02125-9" target="_blank" >https://link.springer.com/article/10.1007/s11205-019-02125-9</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1007/s11205-019-02125-9" target="_blank" >10.1007/s11205-019-02125-9</a>

Jazyk výsledku

angličtina

Název v původním jazyce

The Importance of Variables in Composite Indices: A Contribution to the Methodology and Application to Development Indices

Popis výsledku v původním jazyce

The paper examines the issue of weights and importance in composite indices of development. Building a composite index involves several steps, one of them being the weighting of variables. The nominal weight assigned to a variable often differs from the degree to which the variable affects the scores of the overall index. The newly suggested notion of importance is based on the idea that an important indicator, if omitted from the index, causes large changes in countries’ results. We propose a method of measuring the importance and apply it to inequality variables in composite indices of development. The results show a low importance for most inequality variables, and for some of them, a large discrepancy between the nominal weights and the importance. We argue that the importance of variables should be considered in the process of index construction. This may imply a modification of the index when there is a large discrepancy between the nominal weights and importance and when the importance of some variables is extremely low. Whether any such modification is justified must be decided within the context of the particular index.

Název v anglickém jazyce

The Importance of Variables in Composite Indices: A Contribution to the Methodology and Application to Development Indices

Popis výsledku anglicky

The paper examines the issue of weights and importance in composite indices of development. Building a composite index involves several steps, one of them being the weighting of variables. The nominal weight assigned to a variable often differs from the degree to which the variable affects the scores of the overall index. The newly suggested notion of importance is based on the idea that an important indicator, if omitted from the index, causes large changes in countries’ results. We propose a method of measuring the importance and apply it to inequality variables in composite indices of development. The results show a low importance for most inequality variables, and for some of them, a large discrepancy between the nominal weights and the importance. We argue that the importance of variables should be considered in the process of index construction. This may imply a modification of the index when there is a large discrepancy between the nominal weights and importance and when the importance of some variables is extremely low. Whether any such modification is justified must be decided within the context of the particular index.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50403 - Social topics (Women´s and gender studies; Social issues; Family studies; Social work)

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

SOCIAL INDICATORS RESEARCH

ISSN

0303-8300

e-ISSN

—

Svazek periodika

145

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

36

Strana od-do

1125-1160

Kód UT WoS článku

000496204500019

EID výsledku v databázi Scopus

2-s2.0-85066032916