Open AccessDevelopment Application of Composite Indices (CI): An Emerging Method to the Disciplines of Engineering, Economics and Finance
Author(s) -
Chandrasekhar Putcha,
Brian W. Sloboda,
Mohammadreza Khani
Publication year - 2016
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2016.v12n28p1
Subject(s) - multidisciplinary approach , field (mathematics) , engineering economics , management science , engineering ethics , interdisciplinarity , discipline , computer science , engineering management , engineering , sociology , economics , social science , mathematics , finance , pure mathematics
Interdisciplinary or multidisciplinary research involves the use of a combination of principles from various disciplines: engineering, economics, finance, etc. This particular approach makes a lot of sense; otherwise, all the research will become compartmentalized, and researchers from one discipline will not know what researchers from other disciplines are doing and how those principles can be applied to their own disciplines. One way to create a common base connecting all these disciplines is to use the concept of composite indicators (CI), which is an emerging field of study. The use of composite indices, as part of an emerging method, for research problems in various fields allows for greater understanding of research problems and provides a visionary approach to solve such problems. This paper first states the existing methods for calculation of composite indicators in the literature and then suggests a new method.