The importance of Perron-Frobenius Theorem in ranking problems
Alberto Peretti · RePEc: Research Papers in Economics · 2014
The problem of ranking a set of elements, namely giving a ``rank'' to the elements of the set, may be tackled in many different ways. In particular a mathematically based ranking scheme can be used and sometimes it may be interesting to see how different can be the results of a mathematically based method compared with some more heuristic ways. In this working paper some remarks are presented about the importance, in a mathematical approach to ranking schemes, of a classical result from Linear Algebra, the Perron--Frobenius theorem. To give a motivation of such an importance two different contexts are taken into account, where a ranking problem arises: the example of ranking football/soccer teams and the one of ranking webpages in the approach proposed and implemented by Google's PageRank algorithm.