ASSESSING COUNTRY PERFORMANCES DURING THE COVID-19 PANDEMIC BY USING SDV BASED ROV METHOD


Türkoğlu S. P. , Tuzcu S. E.

INTERNATIONAL COVID-19 AND CURRENT ISSUES CONGRESS, Ankara, Turkey, 12 - 14 March 2021, pp.211

  • Publication Type: Conference Paper / Summary Text
  • City: Ankara
  • Country: Turkey
  • Page Numbers: pp.211

Abstract

This study aims to assess the performance of 22 different countries that are ranked among the middlehigh income group according to the World Bank classifications by using two multicriteria decision making methods (MCDM). These methods are standard deviation (SDV) approach to weight the criteria, and range of value (ROV) approach to rank the countries based on the criteria weights obtained from the previous step. To the extent of our knowledge, this is the first study that combines these two methods in the MCDM and COVID-19 literature. SDV method is an objective weighting approach for the criteria. It is especially useful when the decision makers cannot establish the relative importance of the criteria. Same as the SDV method, the ROV approach is also employed in the cases where it is not meaningful to assign quantitative weights. This computation approach consists with the COVID-19 pandemic, which still protect its black-box nature. The weights obtained from the SDV method reveal that current health expenditures, cardiovascular death rate, hospital beds per thousand people, and extreme poverty are the most important criteria. The ROV method indicates that the average score for the evaluated countries is 0.5266. Ecuador, Costa Rica, and Argentina are the countries that show best performance against the pandemic, whereas the lowest performance belongs to Indonesia, Georgia and Montenegro. Turkey is in the middle in the performance ranking of countries.