Application of the Vector Measure Construction Method and Technique for Order Preference by Similarity Ideal Solution for the Analysis of the Dynamics of Changes in the Poverty Levels in the European Union Countries

Abstract

In the context of the development of countries, the issue of sustainability is one of the most important aspects that are currently dealt with by scientists and organizations worldwide. There are developed concepts, sustainable development objectives, as well as indicators and tools for measuring sustainability. Following the scientific approach, which aims at operationalization of the concept of sustainable development, the authors propose the application of their own Vector Measure Construction Method for evaluation of sustainable development progress. This method enables creation of aggregated measures with the use of discretionary configuration of indicators and it can be applied for establishing rankings, classifications, and for analyzing dynamics of changes. The research was conducted for European Union countries based on data related to execution of one of 17 Sustainable Development Goals (No Poverty). The results may constitute the recommendation on the selection of methodological approach for activities related to evaluation of sustainable development.