A group decision making method with preference analysis to re-build the Global Entrepreneurship Index.

Abstract

This study proposes a group decision making (GDM) method with preference analysis to re-build the Global Entrepreneurship Index (GEI). Specifically, a single decision maker is firstly identified using a specified individual judgement about the importance order of three sub-indices of the GEI. A preliminary group decision matrix is constructed in terms of taking all possible individual judgments into account. Then the analysis of the preferential differences and preferential priorities with respect to the preliminary group decision matrix is conducted to obtain a revised group decision matrix, in which preferential differences calculate the weighted differences as the degrees of differences among different alternatives for each decision maker, preferential priorities describe the favorite ranking of alternatives for each decision maker. Finally, we employ the Stochastic Multicriteria Acceptability Analysis for group decision-making (SMAA-2) to create the holistic acceptability indices for measuring the entrepreneurship performance. In addition, a satisfaction index is developed to indicate the merits of proposed GDM method. A case study using the GEI-2019 of 19 G20 countries is carried out to validate our GDM method.