Constructing a composite indicator with multiplicative aggregation under the objective of ranking alternatives

Constructing a composite indicator with multiplicative aggregation under the objective of ranking alternatives

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Article ID: iaor20132541
Volume: 64
Issue: 5
Start Page Number: 668
End Page Number: 678
Publication Date: May 2013
Journal: Journal of the Operational Research Society
Authors: , ,
Keywords: ranking
Abstract:

Composite indicators (CIs), constructed on the basis of the ‘benefit of the doubt’ criterion, are characterized by endogenously determined vectors of weights. In this paper, a new procedure to construct CIs is proposed in an attempt to overcome the main weakness of this family of procedures: the determination of an individual weighting vector for each alternative, which makes comparisons between alternatives difficult and the existence of multiple ties. A new procedure is proposed which, while maintaining the essence of DEA‐inspired procedures determines a common weighting vector to evaluate the complete set of alternatives and includes the discrimination between alternatives as an objective of the procedure.

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