A quest for methodologically robust composite index development: A case study for the evaluation of global citizens' wellbeing and liveability

Abstract

The methodological issues encompassing the composite index development and evaluation have been a long-standing point of confronting ideas. In particular, the topics of indicators' selection, weighting scheme, substitutability, etc., have triggered numerous researchers in a quest for a methodologically robust composite index. The benefits of the composite index have consistently overshadowed the range of methodological inconsistencies; however, the continuous efforts have been pushed forward to minimise the effect of a methodological framework on the applicability of the obtained results and the potential to communicate it to a broader audience. As a potential remedy to the challenges mentioned above, we advocate the novel approaches in a taxonomy-based decision support system. More to the point, by applying the proposed approach, decision-makers are able to enhance the quality of decisions and consequently establish recommendations for sound policies. We evaluated the Cities of The Future Index (CFI), introduced by the EasyPark group as a case study. Furthermore, particular emphasis was given to the potential for improving the CFI.