Dealing with categorical data in a multidimensional context: The Multidimensional Balanced Worth
Herrero, C. and Villar, A.
Year of publication: 2020
Keywords: relative performance, categorical variables, multidimensional evaluation
JEL Classification: D71
This paper refers to the evaluation of the relative performance of a set of populations, in a multidimensional context, by comparing outcome distributions relative to categorical variables (qualitative or quantitative data). This type of problem appears in many different fields, such as Medicine, Social Sciences or Engineering. We address this family of problems by extending the balanced worth (Herrero & Villar, 2018) to a multidimensional setting. To illustrate the working of this evaluation protocol, we analyse the human capital of the young in nine selected European countries, from three different viewpoints.