An Evaluation of EU Member States According to Human Development and Global Competitiveness Dimensions Using the Multi-Period Grey Relational Analysis (MP-GRA) Technique

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. © 2017, Emerald Publishing Limited.