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A VEA Benefit-of-the-Doubt Model for the HDI

Panagiotis Ravanos () and Giannis Karagiannis ()
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Panagiotis Ravanos: University of Macedonia
Giannis Karagiannis: University of Macedonia

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2021, vol. 155, issue 1, No 2, 27-46

Abstract: Abstract The Benefit-of-the-Doubt (BoD) model for constructing composite indicators does not account for prior judgments concerning the relative importance of individual indicators. In this paper we combine the BoD model with Value Efficiency Analysis to propose a new formulation that incorporates external preferences and value judgments by means of a “model” decision-making unit which serves as the benchmark for all other units. We explore the potential of the proposed model by using it to re-estimate the United Nations Human Development Index.

Keywords: Value efficiency analysis; Benefit-of-the-doubt; Most preferred solution; Human development index (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s11205-020-02589-0

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