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

In: Operational Research in the Era of Digital Transformation and Business Analytics

Author

Listed:
  • Pantelis Sotirelis

    (Technical University of Crete, University Campus)

  • Evangelos Grigoroudis

    (Technical University of Crete, University Campus)

  • Michalis Doumpos

    (Technical University of Crete, University Campus)

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.

Suggested Citation

  • Pantelis Sotirelis & Evangelos Grigoroudis & Michalis Doumpos, 2023. "Revising the European Innovation Scoreboard: A Multiple Criteria Decision Analysis Approach," Springer Proceedings in Business and Economics, in: Nikolaos F. Matsatsinis & Fotis C. Kitsios & Michael A. Madas & Maria I. Kamariotou (ed.), Operational Research in the Era of Digital Transformation and Business Analytics, pages 67-75, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-24294-6_7
    DOI: 10.1007/978-3-031-24294-6_7
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