A comparative approach of economic sectors in Sinaloa, Mexico, based on multicriteria decision aiding

Juan Carlos Leyva Lopez (), Diego Alonso Gastelum Chavira () and Margarita Urias Ruiz ()
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Juan Carlos Leyva Lopez: Universidad de Occidente
Diego Alonso Gastelum Chavira: Universidad de Occidente
Margarita Urias Ruiz: Universidad de Occidente

EconoQuantum, Revista de Economia y Finanzas, 2016, vol. 13, issue 1, 97-124

Abstract: In this paper, a multicriteria approach for ranking the performance of the economic sectors of the Sinaloa economy is proposed, and the most attractive sectors are identified. The approach uses the ELECTRE-III method to construct a valued outranking relation and then a multiobjective evolutionary algorithm to exploit the relation to obtain a recommendation. The retail and manufacturing sectors were ranked first in all the rankings; the utilities sector was ranked second in all the rankings; and the mining sector and the management of companies and enterprises sector were ranked the lowest. The results of this application can be useful for investors, business leaders, and policy-makers. The multicriteria approach utilized in this study is simple; furthermore, it can treat uncertainty well. This study also contributes to an important, yet relatively new, body of economic applicationbased literature that investigates multicriteria approaches to decision making that use fuzzy theory and evolutionary multi-objective optimization methods.

Keywords: Multicriteria decision analysis; Economic sectors; Multiobjective evolutionary algorithms. (search for similar items in EconPapers)
JEL-codes: C63 O10 O17 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:qua:journl:v:13:y:2016:i:1:p:97-124

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