Novel Comprehensive MEREC Weighting-Based Score Aggregation Model for Measuring Innovation Performance: The Case of G7 Countries


Ecer F., Ayçin E.

INFORMATICA, vol.34, no.1, pp.53-83, 2023 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 34 Issue: 1
  • Publication Date: 2023
  • Doi Number: 10.15388/22-infor494
  • Journal Name: INFORMATICA
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, Compendex, INSPEC, zbMATH
  • Page Numbers: pp.53-83
  • Keywords: innovation, MCDM, innovation measurement, Borda rule, G7 countries, score aggregation model, ASSESSMENT CODAS METHOD, DECISION-MAKING, WASPAS METHOD, SELECTION, RESOURCES, PATTERNS, REGIONS, SECTOR, MABAC, ANP
  • Kocaeli University Affiliated: Yes

Abstract

Innovation can be the greatest hope of overcoming economic challenges. This paper aims to evaluate countries concerning their innovation performances. We introduce an innovation perfor-mance evaluation methodology by considering objective factors and applying seven reliable MCDM methods: MEREC, CODAS, MABAC, MARCOS, CoCoSo, WASPAS, and MAIRCA. MEREC cal-culates the relative weights of indicators considered, while the other techniques decide the ranking order of G7 countries. The Borda rule is then employed to gain an aggregated ranking order. "Busi-ness sophistication" is the most critical indicator, whereas the US has the best position regarding the overall ranking. Sensitivity control is as well conducted.