Višeciljna optimizacija blagostanja u zemljama članicama Europske unije

Translated title of the contribution: Multi-objective optimization of well-being in the European union member states

Tomas Baležentis, Alvydas Baležentis, Willem K M Brauers

Research output: Contribution to journalArticle

18 Citations (Scopus)

Abstract

Well-being is of crucial importance for both individual and society as a whole. It is therefore important to quantify performance and progress made by certain states, regions, communities, social groups, and individuals in improving their well-being. The aim of study was to offer a new framework for multi-criteria assessment as well as international comparison of objective well-being. Well-being is a multi-dimensional phenomenon; hence the appropriate indicator system should be capable to identify the most important underlying processes influencing well-being. For our research we have established the indicator system of twelve indicators identifying various dimensions of well-being. Therefore we propose MULTIMOORA, a model which can be used for approaching the objective of societal well-being. It is applied for international comparison of the well-being in the EU Member States. Consequently, it was revealed that Ireland, the Netherlands, Denmark, Austria, France, Cyprus, Finland, Germany, and Belgium have achieved the highest level of well-being as of 2009. At the other end of spectrum, Czech Republic, Lithuania, Slovakia, Bulgaria, Poland, Hungary, Estonia, Lat-via, and Romania can be considered as those peculiar with relatively lowest well-being.

Original languageUndefined/Unknown
Pages (from-to)1-15
Number of pages15
JournalEkonomska Istrazivanja
Volume24
Issue number4
Publication statusPublished - Dec 2011

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Keywords

  • Multi-objective optimization
  • MULTIMOORA
  • Sustainable development
  • Welfare state
  • Well-being

ASJC Scopus subject areas

  • Economics and Econometrics

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