ISSN:2149-083X

EVALUATING ECONOMIC FREEDOM’ CRITERIAS of G-10 COUNTRIES WITH EDAS METHOD and CLUSTER ANALYSIS FOR


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.

Author : Mehmet LEVENT - Çiğdem ÖZARI
Number of pages: 219-235
DOI: http://dx.doi.org/10.29228/TIDSAD.30876
Full text:
The Journal of Turk-Islam World Social Studies
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