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Novel Comprehensive MEREC Weighting-Based Score Aggregation Model for Measuring Innovation Performance: The Case of G7 Countries
Volume 34, Issue 1 (2023), pp. 53–83
Pub. online: 5 September 2022      Type: Research Article      Open accessOpen Access
Received
1 February 2022
Accepted
1 August 2022
Published
5 September 2022

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 performance evaluation methodology by considering objective factors and applying seven reliable MCDM methods: MEREC, CODAS, MABAC, MARCOS, CoCoSo, WASPAS, and MAIRCA. MEREC calculates 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. “Business sophistication” is the most critical indicator, whereas the US has the best position regarding the overall ranking. Sensitivity control is as well conducted.

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Biographies

Ecer Fatih
https://orcid.org/0000-0002-6174-3241
fecer@aku.edu.tr

F. Ecer is a professor at the Afyon Kocatepe University, the Department of Business, Turkey. His current research interests are decision analysis, multiple criteria decision making (MCDM), optimization methods, artificial intelligence, artificial neural networks (ANNs), fuzzy set theory, grey set theory, soft computing, sustainability, renewable energy, transportation, and data mining. His work has been published, or is forthcoming, in high-quality international journals. As of 2022, he has an h-index of 17 (Scopus), 17 (Web of Science), and 30 (Google Scholar). Dr. Ecer has also been serving on the Review Board and Editorial Board for a number of SSCI/SCI/SCI-E/ESCI indexed journals in the world. According to Scopus and Stanford University, he is among the World’s top 2% of scientists as of 2020.

Aycin Ejder
https://orcid.org/0000-0002-0153-8430
ejder.aycin@kocaeli.edu.tr

E. Aycin is an associate professor in the Faculty of Business at the Kocaeli University, Turkey. He completed his PhD at Dokuz Eylul University, Turkey. His research interests lie in the areas of operation research, decision sciences, and multi-criteria decision making. He has collaborated actively with researchers in several other disciplines of computer science, finance, and industrial engineering.


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Keywords
innovation MCDM innovation measurement Borda rule G7 countries score aggregation model

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