Sign in to use this feature.

Years

Between: -

Subjects

remove_circle_outline
remove_circle_outline
remove_circle_outline

Journals

Article Types

Countries / Regions

Search Results (1)

Search Parameters:
Keywords = Mean Excess Function (MEF)

Order results
Result details
Results per page
Select all
Export citation of selected articles as:
17 pages, 1782 KiB  
Article
A Complex MCDM Procedure for the Assessment of Economic Development of Units at Different Government Levels
by Aleksandra Łuczak and Małgorzata Just
Mathematics 2020, 8(7), 1067; https://doi.org/10.3390/math8071067 - 2 Jul 2020
Cited by 14 | Viewed by 2689
Abstract
Studies on the economic development of government units are among the key challenges for authorities at different levels and an issue often investigated by economists. In spite of a considerable interest in the issue, there is no standard procedure for the assessment of [...] Read more.
Studies on the economic development of government units are among the key challenges for authorities at different levels and an issue often investigated by economists. In spite of a considerable interest in the issue, there is no standard procedure for the assessment of economic development level of units at different levels of government (national, regional, sub-regional). This assessment needs a complex system of methods and techniques applicable to the various types of data. So, adequate methods must be used at each level. This paper proposes a complex procedure for a synthetic indicator. The units are assessed at different government levels. Each level (national, regional, and sub-regional) may be described with a particular type of variables. Set of data may include variables with a normal or near-normal distribution, a strong asymmetry or extreme values. The objective of this paper is to present the potential behind the application of a complex Multi-Criteria Decision Making (MCDM) procedure based on the tail selection method used in the Extreme Value Theory (EVT), i.e., Mean Excess Function (MEF) together with one of the most popular MCDM methods, namely the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), to assess the economic development level of units at different government levels. MEF is helpful to identify extreme values of variables and limit their impact on the ranking of local administrative units (LAUs). TOPSIS is suitable in ranking units described with multidimensional data set. The study explored the use of two types of TOPSIS (classical and positional) depending on the type of variables. These approaches were used in the assessment of economic development level of LAUs at national, regional and sub-regional levels in Poland in 2017. Full article
(This article belongs to the Special Issue Advanced Methods in Mathematical Finance)
Show Figures

Figure 1

Back to TopTop