WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 11, 2014
Comparing Regions´ Ranking by MCDM Methods: The Case of Visegrad Countries
Author: Eva Poledníková
Abstract: The paper solves the problem of an alternative access to quantitative evaluating of differences in the level of socio-economic development of regions in Visegrad Four countries (V4). The aim of the paper is to define the position of NUTS 2 regions in the period 2000-2010 by utilizing methods of Analytic Hierarchy Process (AHP), Simple Additive Weighting (SAW) and Technique for Order Preferences by Similarity to an Ideal Solution (TOPSIS). The sense of applying the methods will be setting the rank and mutual positions of NUTS 2 regions reflecting their socioeconomic development reached for the year 2000, 2005, 2010 based on selected regional data (criterion). The AHP, SAW and TOPSIS are concrete multicriteria decision-making methods (MCDM) which use the hierarchy of elements and ranking the alternatives according to utility and distance functions. Based on the application of methods we can gain detailed view on the regional development of regions by way of quantitative multidimensional characteristics which can lead to more precise evaluation of the socioeconomic disparities among NUTS 2 regions.
Keywords: AHP, Cohesion policy, Multicriteria decision-making methods, Pairwise comparison, Regional disparities, SAW, TOPSIS, Visegrad Four
Pages: 496-507WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 11, 2014, Art. #46