Mehmet Pinar|Thanasis Stengos|Nikolas Topaloglou
Measuring human development: a stochastic dominance approach
University of Guelph|University of Guelph|Athens University of Economics and Business
consider weighting scheme yields bestcase scenario measured human development official equallyweighted human development index hdi using approach relies consistent tests stochastic dominance efficiency compare official equallyweighted hdi possible indices constructed set individual components obtain optimistic scenario development bestcase scenario index education weighted considerably two components per capita income life expectancy relative weight gets official equallyweighted index also turns improvement official hdi mainly driven improvements time education index component moving fastest relative targets compared per capita income life expectancy find bestcase scenario hybrid index leads marked improvement measured development time compared official equallyweighted hdi