Abstract
This study aims to objectively compare the long-term innovation performances of the EU countries. In this context, we propose a hybrid multi-attribute decision-making (MADM) approach combining Simple Additive Weighting (SAW) and TOPSIS. The proposed approach (CST) uses the alternatives’ quadratic utility functions considering the weighted sum value and distance to the positive ideal solution. It also uniquely determines the criteria weight vector using a strictly concave maximization problem. Using the Summary Innovation Index (SII) data for the 2016-2023 period, CST reveals that Sweden, Denmark, and the Netherlands are in the first three ranks. In contrast, Romania, Bulgaria, and Latvia are in the last three ranks.