Revising the European Innovation Scoreboard: A Multiple Criteria Decision Analysis Approach

Pantelis Sotirelis (), Evangelos Grigoroudis and Michalis Doumpos
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Pantelis Sotirelis: Technical University of Crete, University Campus
Evangelos Grigoroudis: Technical University of Crete, University Campus
Michalis Doumpos: Technical University of Crete, University Campus

A chapter in Operational Research in the Era of Digital Transformation and Business Analytics, 2023, pp 67-75 from Springer

Abstract: Abstract The measurement of national innovation performance is a significant issue in the context of policy making. Composite indicators are widely used for ranking countries in terms of innovation and entrepreneurial performance. However, there is controversy regarding their credibility that mainly stems from the adopted normalization and weighting schemes. The paper adopts a Multiple Criteria Decision Aid (MCDA) approach to revise the ranking introduced on the European Innovation Scoreboard 2019 report. An integrated PROMETHEE-GAIA approach is applied, and country rankings are calculated for 3 years (2016–2018). For each year, sensitivity analysis for the basic parameters of the PROMETHEE II is implemented, validating the robustness of the results.

Keywords: Innovation performance; MCDA; PROMETHEE II; PROMETHEE-GAIA; European Innovation Scoreboard; Composite indicators (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-24294-6_7

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DOI: 10.1007/978-3-031-24294-6_7

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