A Hybrid MADM Approach Based on Simple Additive Weighting and TOPSIS: An Application on Comparison of Innovation Performances of the EU Countries

Year 2024, Volume: 11 Issue: 3, 419 - 430, 30.09.2024

Furkan Göktaş

https://doi.org/10.54287/gujsa.1474940

Abstract

This study aims to objectively compare the long-term innovation performances of the EU countries. In this context, we propose a hybrid multi-attribute decision-making (MADM) approach combining Simple Additive Weighting (SAW) and TOPSIS. The proposed approach (CST) uses the alternatives’ quadratic utility functions considering the weighted sum value and distance to the positive ideal solution. It also uniquely determines the criteria weight vector using a strictly concave maximization problem. Using the Summary Innovation Index (SII) data for the 2016-2023 period, CST reveals that Sweden, Denmark, and the Netherlands are in the first three ranks. In contrast, Romania, Bulgaria, and Latvia are in the last three ranks.

Keywords

Convex Optimization, Innovation, Multi-Attribute Decision-Making, Simple Additive Weighting, TOPSIS

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