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

F J Blancas, I Contreras and J M Ramírez-Hurtado
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F J Blancas: Pablo de Olavide University, Sevilla, Spain
I Contreras: Pablo de Olavide University, Sevilla, Spain
J M Ramírez-Hurtado: Pablo de Olavide University, Sevilla, Spain

Journal of the Operational Research Society, 2013, vol. 64, issue 5, 668-678

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.

Date: 2013
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