Abstract
Szerb and Komlósi offer a direct analysis of regional ecosystems based on the Regional Entrepreneurship and Development Index (REDI). The authors acknowledge that the REDI approach is based on homogeneous (across regions) and fixed (across pillars) pillar weights, thus ignoring part of regions’ heterogeneity. Therefore, they enhance the REDI methodology by using the benefit of the doubts (BOD) weighting technique. The BOD method reflects a value judgment on the optimal configurations of REDI constituents. The discussion pays close attention to the connection between meaningful composite indicators and policy-making. If policy makers are given objective, nonarbitrary information about the importance of REDI pillars, resource allocation should follow an economically meaningful process. Quantity improvements are ensured if additional resources are deployed, but for an equal quantitative change in the REDI score, enhancements will be qualitatively superior if policy makers target a clear set of priorities. Based on the BOD enhanced REDI, the authors provide a score on the quality of the entrepreneurial ecosystem for 125 European Union (EU) regions, and conclude with an analysis of specific entrepreneurship policies for 23 large EU regions.
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