A note on the sub-optimality of rank ordering of objects on the basis of the leading principal component factor scores

Sudhanshu Mishra ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper demonstrates that if we intend to optimally rank order n objects (candidates) each of which has m attributes or rank scores awarded by m evaluators, then the ordinal ranking of objects by the conventional principal component based factor scores turns out to be suboptimal. Three numerical examples have been provided to show that principal component based rankings do not necessarily maximize the sum of squared correlation coefficients between the individual m rank scores arrays, X(n,m), and overall rank scores array, Z(n).

Keywords: Rankings; sub-optimal; optimality; principal component; factor scores; Differential Evolution; global optimization (search for similar items in EconPapers)
JEL-codes: C14 C43 C61 C63 C87 (search for similar items in EconPapers)
Date: 2008-12-30
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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