Ratings and rankings: Voodoo or science?

@article{Paruolo2011RatingsAR,
  title={Ratings and rankings: Voodoo or science?},
  author={Paolo Paruolo and Andrea Saltelli and Michaela Saisana},
  journal={Quality Engineering},
  year={2011},
  volume={60},
  pages={69-70}
}
Summary.  Composite indicators aggregate a set of variables by using weights which are understood to reflect the variables’ importance in the index. We propose to measure the importance of a given variable within existing composite indicators via Karl Pearson's ‘correlation ratio’; we call this measure the ‘main effect’. Because socio-economic variables are heteroscedastic and correlated, relative nominal weights are hardly ever found to match relative main effects; we propose to summarize… 

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