Constructing a knowlegde economy composite indicator with imprecise data: A proposal

L.J.H. Cherchye, W. Moesen, N. Rogge, T. van Puyenbroeck

Research output: Contribution to journalArticleScientificpeer-review

Abstract

This paper focuses on the construction of a composite indicator for the knowledge based economy, using imprecise data. Specifically, for some indicators we only have information on the interval within which the true value is believed to lie. The proposed approach is based on the Data Envelopment Analysis literature. Given the setting of evaluating countries, this paper discerns a ‘strong country in weak environment’ and ‘weak country in strong environment’ scenario resulting in respectively an upper and lower bound on countries’ performance. Accordingly, we derive a classification of ‘benchmark countries’, ‘potential benchmark countries’, and ‘countries open to improvement’. We illustrate our method with data on the knowledge economy.
Original languageEnglish
Pages (from-to)10940-10949
JournalExpert Systems with Applications
Volume38
Issue number9
Publication statusPublished - 2011

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