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Quantitative Economics How sustainable are our economies by Peter Bartelmus_5

Tham khảo tài liệu 'quantitative economics how sustainable are our economies by peter bartelmus_5', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 90 5 Aggregation From Indicators to Indices The Delphi method is a procedure for tapping into a broader range of expert knowledge. The idea is to generate evaluative consensus through several rounds of feedback from an expert panel. Jesinghaus 1997 suggested using this method for the expertocratic weighting of Eurostat s environmental pressure indicators. However to date Eurostat has been hesitant to take up this suggestion.2 The reason might be that even the use of expert knowledge remains subjective depending on the selection of experts their particular areas of expertise methodological preferences and depth of knowledge as well as the technical tools applied such as questionnaire design . Fuzzy logic combines qualitative evaluations of quantitative results in a more controlled manner. The method uses a range of results rather than preset cut-off points when determining combined indicator categories. Ultimately even fuzzy logic has to set acceptability standards. 5.1.2 Mathematical Tools of Information Reduction A more objective method of reducing information overload is factor or component analysis. The approach is to reduce the number of intercorrelated variables to a lower number of independent variables that represent sufficiently indicator variance. If all indicators related to sustainable development could be reduced in this manner to one factor this factor would indeed constitute an index of different levels of sustainable development. However more than one factor is usually needed to reflect most of the indicator variance. The contributions of different factors to sustainability or development are therefore in most cases far from clear. Results of a factor-analytic test of the Environmental Sustainability Index ESI seem to confirm this Yale Center etc. 1997-2006 ESI-2002 report . So far factor analysis has not been applied successfully in deriving an index of sustainable development. This might indeed be an indication that one overall index cannot .