Krishnakumar, Jaya, and A. L. Nagar (2008). "On Exact Statistical Properties of Multidimensional Indices Based on Principal Components, Factor Analysis, MIMIC and Structural Equation Models" Social Indicator Researchs 86 pp. 481-496

This paper reviews principal components and various latent variable models, reaffirms their appropriateness in this context, examines the statistical properties of resulting indices, gives analytical expressions of their variances and establishes certain exact relationships among them.