Properties of Some Generalized Means for Positive Sequences
14 Pages Posted: 6 Dec 2019
Date Written: December 4, 2019
This paper proposes a simple procedure, in order to aggregate a nite number of real nonnegative values into a unique indicator. Possible applications of this tool can be found in social sciences, including demography, sociology, etc. In particular, the indicator may represent a generalized mean, to be used as an aggregate measure combining several inhomogeneous parameters. Observe that some alternatives to this approach, including complex multicriteria or multiobjective methods, are often discarded by stakeholders (say politicians, public administrators, managers, etc.), since the latters are typically keen on taking decisions based on a reduced number of parameters (possibly only one). Hence, administrators often show some reluctance to adopt those methods which provide multiple alternatives, e.g. a Pareto front, since this fact implies an additional process of selection.
Keywords: Aggregation of indicators, Ranking among measures, Mean weighted values, Concave problems
JEL Classification: C44, C65
Suggested Citation: Suggested Citation