EVALUATING ECONOMIC FREEDOM’ CRITERIAS of G-10 COUNTRIES WITH EDAS METHOD and CLUSTER ANALYSIS FOR
EDAS YÖNTEMİ VE KÜMELEME ANALİZİ İLE G-10 ÜLKELERİNİN EKONOMİK ÖZGÜRLÜK KRİTERLERİ İLE DEĞERLENDİRİLMESİ

Author : Mehmet LEVENT - Çiğdem ÖZARI
Number of pages : 219-235

Abstract

In this research, EDAS method, which is one of the Multiple Criteria Decision Making Methods, is applied to G-10 countries for 2017 according to the 6 indices of economic freedom index. The countries are listed from best to worst. Also, non-hierarchical k-means method is applied to G-10 members of 11 countries and by the help of this method countries split in two clusters. Ranking findings that are obtained from EDAS method has been compared with the constructed clusters from K-means clustering. According to the findings, it is observed that some sorting countries which are in a row not in the same clusters. In another meaning, it is observed that it is less similar when considering 6 indicators compared to other countries. The most important aim of this research is demonstrating of EDAS and K-means clustering methods are applicable in this field too.

Keywords

Economic Freedom, EDAS, Cluster Analysis.

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