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Title
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The economy of the Belgian regions tested with MULTIMOORA
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Author
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Abstract
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| The definition of robustness in econometrics, the error term in a linear equation, was not only broadened, but in addition moved to the meaning of common language: from a cardinal to a qualitative one. At that moment the most robust Multi-Objective Optimization Method has to fulfill seven essential conditions. In addition, considering all stakeholders involved, the choice of the objectives is non-subjective with the assistance of the Ameliorated Nominal Group Technique and the Delphi method. Outside Normalization is not necessary by the use of a Full Multiplicative Form or of MOORA (Multi-Objective Optimization by Ratio Analysis). This last one is composed of ratio analysis senso stricto and of the Reference Point Method with the previously obtained ratios as a starting point. Combining the three methods in MULTIMOORA a full guarantee for robustness in Multiple Objectives Optimization is offered. This interpretation is tested by an application to the Economy of the Belgian Regions. |
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Language
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English
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Source (journal)
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Journal of business economics and management. - Place of publication unknown
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Publication
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Place of publication unknown
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2010
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ISSN
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1611-1699
2029-4433
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DOI
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10.3846/JBEM.2010.09
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Volume/pages
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11
:2
(2010)
, p. 173-209
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ISI
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000280069900001
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Full text (Publisher's DOI)
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