Title: Monitoring multidimensional phenomena with a multicriteria composite performance interval approach
Authors: Ana Garcia-Bernabeu; Adolfo Hilario-Caballero; David Pla-Santamaria; Francisco Salas-Molina
Addresses: Department of Economics and Social Sciences, Universitat Politècnica de València, Camino de Vera s/n, 46022 Valencia, Spain ' Institute of Control Systems and Industrial Computing (ai2), Universitat Politècnica de València, Camino de Vera s/n, 46022 Valencia, Spain ' Department of Economics and Social Sciences, Universitat Politècnica de València, Camino de Vera s/n, 46022 Valencia, Spain ' Universitat de València, Tarongers, s/n 46022 València, Spain
Abstract: In the last two decades, the construction of composite indicators to measure and compare multidimensional phenomena in a broad spectrum of domains has increased considerably. Different methodological approaches are used to summarise huge datasets of information in a single figure. This paper proposes a new approach that consists in computing a multicriteria composite performance interval based on different aggregation rules. The suggested approach provides an additional layer of information as the performance interval displays a lower bound from a non-compensability perspective, and an upper bound allowing for full-compensability. The outstanding features of this proposal are: 1) a distance-based multicriteria technique is taken as the baseline to construct the multicriteria performance interval; 2) the aggregation of distances/separation measures is made using particular cases of Minkowski Lp metric; 3) the span of the multicriteria performance interval can be considered as a sign of the dimensions or indicators balance.
Keywords: composite indicators; multicriteria decision making; compensability; performance interval.
International Journal of Multicriteria Decision Making, 2021 Vol.8 No.4, pp.368 - 385
Received: 30 Mar 2021
Accepted: 01 Oct 2021
Published online: 07 Feb 2022 *