Country rankings according to well-being evolution: composite indicators from a functional data analysis perspective

Francesca Fortuna (), Alessia Naccarato () and Silvia Terzi ()
Additional contact information
Francesca Fortuna: Roma Tre University
Alessia Naccarato: Roma Tre University
Silvia Terzi: Roma Tre University

Annals of Operations Research, 2024, vol. 342, issue 3, No 8, 1529-1546

Abstract: Abstract The paper suggests the use of the functional data analysis approach to study the evolution of well being indicators, visualizing their behaviour over time. Thus, an evolutionary well-being indicator is proposed by complement the original data with information concerning the first derivative. The second task is to provide an overall ranking of the countries over time using two functional tools: the area under the curve and functional depth, which return two distinct rankings. A simulation study is conducted to evaluate the effectiveness of the area in distinguishing groups of countries with different levels of well-being. The proposed method is employed on a real dataset concerning the human development index of European countries.

Keywords: Area under the curve; Functional depth; Functional derivatives; Overall Ranking; Well-being indicators (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10479-022-05072-w Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:annopr:v:342:y:2024:i:3:d:10.1007_s10479-022-05072-w

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10479

DOI: 10.1007/s10479-022-05072-w

Access Statistics for this article

Annals of Operations Research is currently edited by Endre Boros

More articles in Annals of Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().