Multi-Criteria Decision Making for Smart Specialisation in Serbia

Kutlača, Đuro and Živković, Lazar and Štrbac, Dijana (2018) Multi-Criteria Decision Making for Smart Specialisation in Serbia. In: XIII Balkan Conference on Operational Research - BALCOR 2018, Belgrade, 25-28 May, 2018. Mathematical Institute of the Serbian Academy of Sciences and Arts (SANU), Belgrade, pp. 227-234. ISBN 978-86-80593-64-7

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Abstract

Smart Specialization Strategy (S3) is in process of creation in Serbia. S3 methodology is based on rigorous concept for selection of priority sectors in one region or country, relying on high values of location quotient (LQ>1.5) calculated for (at least) single criterion representing available indicators of economic, scientific and innovation performance. In addition to this concept, valuable for identification of limited number of priority sectors, analysis with multiple criteria which allows creation of ranking list of all active sectors in country based on aggregation using Multiple Criteria Decision Making (MCDM) methods is conducted as well. This paper presents both methodological approach and first empirical results of S3 process in Serbia using Compromise Programming as one among numerous quantitative analytical tools of MCDM.

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