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Advisor(s)
Abstract(s)
The Organization for Economic Cooperation and Development (OECD) has developed the Better Life Index (BLI) as part of the OECD Better Life initiative to facilitate the better understanding of what drives well-being of people and guide the policy-making. The BLI is a three-level hierarchical composite indicator which covers several socio-economic aspects. In this paper, we depart from the traditional approaches of building composite indices by introducing a hierarchical evaluation methodology for the assessment of BLI. We establish a common basis for fair and democratic evaluation as the aggregation schemes for both first and second level of BLI are determined jointly by the assessed countries through optimization process. We also incorporate into the assessment the public opinion that is captured from the worldwide responses in the web platform of OECD BLI. In addition, we enrich our methodology by incorporating the data from previous years into the normalization process of the indicators, thus smoothing the deviations of indicators’ values among the years. We apply our approach to the data of 38 countries for the year 2017. The robust results obtained from our approach provide insights about the key role that public opinion plays in the evaluation of BLI.
Description
Keywords
OECD better life index Composite index Hierarchical evaluation Public opinion
Citation
Koronakos, G.; Smirlis, Y.; Sotiros, D.; Despotis, D.K. (2018) Review and improvements on OECD better life index. In Proceedings of the DEA40: International Conference of DEA. Birmingham, United Kingdom