An evaluation of EU member states according to human development and global competitiveness dimensions using the multi-period grey relational analysis (MP-GRA) technique. Issue 1 (6th February 2017)

• Record Type: Journal Article
• Authors: Eren, Miraç; Kaynak, Selahattin
• Is Part Of: Grey systems. Volume 7:Issue 1(2017)
• Page Start: 60
• Page End: 70
• Publication Date: 2017-02-06
• Subjects: Grey relational analysis -- Ranking -- European Union states -- Global competitiveness -- Human development -- Multi-period decision analysis; Cybernetics -- Periodicals; Systems engineering -- Periodicals; 003.5
• DOI: 10.1108/GS-08-2016-0023
• Languages: English
• ISSNs: 2043-9377

Abstract

Abstract : Purpose: The purpose of this paper is to investigate the multi-period, multi-attribute decision-making problems that arise when the information required to make decisions is provided at different periods. Design/methodology/approach: For the multi-period grey relational analysis (MP-GRA) procedure, the time dimension is added to the grey relational analysis algorithm, which is a multi-attribute decision analysis that has been developed. As a case study to test the functionality and applicability of the model, 28 European Union member states were ranked by the MP-GRA method developed according to their human development and global competitiveness variables for the years 2006-2015. Findings: The general ranking of EU member states has been provided in intervals of certain time periods called decision units. Originality/value: Another dimension based on time periods has been added to a ranking technique. This case also shows that the opinions of decision-makers may be added separately to enhance evaluations.