The use of TOPSIS for Ranking WIPO’S Innovation Indicators

Abstract

The purpose of this study is to study African, Asian and Oceanic countries in the World Intellectual Property Organization (WIPO) ranking of innovation indicators by means of Multicriteria Decision Making (MCDM) analysis, as a support to the methodology applied by WIPO. The quantitative methodology used is the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). This paper includes a Pearson’s correlation between the indicators. Results suggest a novelty to WIPO’s methodology using TOPSIS as a support for ranking countries, contributing to improve the methodology of innovation indicators by joining their qualitative and quantitative perspectives and principles.