IDEAS home Printed from https://ideas.repec.org/a/eee/soceps/v103y2026ics0038012125001922.html

Preference using Root Value based on Aggregated Normalizations (PROVAN): A data-driven method for socio-economic and innovation assessment

Author

Listed:
  • Biswas, Sanjib
  • Khawash, Nibir
  • Chatterjee, Prasenjit
  • Zavadskas, Edmundas Kazimieras

Abstract

Socio-economic development (SED) remains a critical priority for policymakers aiming to foster inclusive growth and drive national progress. This study presents a comprehensive multi-criteria assessment of regional SED across 16 Indian states, focusing on the influence of innovation (INV) performance and foreign direct investment (FDI) on achieving sustainable development goals (SDGs). A new multi-criteria decision-making (MCDM) method, called Preference using Root Value based on Aggregated Normalisations (PROVAN), is introduced in this paper to enhance decision accuracy by integrating five different normalization techniques. Criteria weights are determined using an extended version of Weights by ENvelope and SLOpe (WENSLO) method, which incorporates multiple normalization strategies to improve robustness. The evaluation considers nine SED and seven INV criteria derived from secondary data sources. The causal relationships are statistically analyzed using Somer's δ test, and the model's reliability is confirmed through comparative and sensitivity analyses. Results reveal that Maharashtra emerges as the top-performing state in both SED (1.5572) and INV (1.5473), followed by Tamil Nadu and Karnataka, indicating strong performance across socio-economic and innovation indicators. The findings highlight significant inter-state disparities and confirm that states with stronger innovation capabilities tend to achieve better socio-economic outcomes. FDI is shown to positively influence sustainable economic development, reinforcing the strategic importance of attracting capital to advance SDGs. The proposed PROVAN-WENSLO framework offers a robust and adaptable tool for regional development planning and policy formulation.

Suggested Citation

  • Biswas, Sanjib & Khawash, Nibir & Chatterjee, Prasenjit & Zavadskas, Edmundas Kazimieras, 2026. "Preference using Root Value based on Aggregated Normalizations (PROVAN): A data-driven method for socio-economic and innovation assessment," Socio-Economic Planning Sciences, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:soceps:v:103:y:2026:i:c:s0038012125001922
    DOI: 10.1016/j.seps.2025.102343
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0038012125001922
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.seps.2025.102343?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Aleksandra Łuczak & Małgorzata Just, 2020. "A Complex MCDM Procedure for the Assessment of Economic Development of Units at Different Government Levels," Mathematics, MDPI, vol. 8(7), pages 1-17, July.
    2. Sok-Gee Chan & Wai-Mun Har & Kanagi Kanapathy & Saban Celik & Bora Aktan, 2024. "Country-of-origin effects on technology transfer in foreign direct investment," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 33(7), pages 1345-1370, October.
    3. Yong Tan & Amir Karbassi Yazdi & Jorge Antunes & Peter Wanke & Angappa Gunasekaran & Henrique Luiz Corrêa & Giuliani Coluccio, 2024. "The Quest for an ESG Country Rank: A Performance Contribution Analysis/MCDM Approach," Mathematics, MDPI, vol. 12(12), pages 1-24, June.
    4. Jaros³aw Brodny & Magdalena Tutak, 2023. "The level of implementing sustainable development goal "Industry, innovation and infrastructure" of Agenda 2030 in the European Union countries: Application of MCDM methods," Oeconomia Copernicana, Institute of Economic Research, vol. 14(1), pages 47-102, March.
    5. Kara, Karahan & Yalçın, Galip Cihan & Simic, Vladimir & Baysal, Zeynep & Pamucar, Dragan, 2024. "The alternative ranking using two-step logarithmic normalization method for benchmarking the supply chain performance of countries," Socio-Economic Planning Sciences, Elsevier, vol. 92(C).
    6. Surana, Kavita & Singh, Anuraag & Sagar, Ambuj D, 2020. "Strengthening science, technology, and innovation-based incubators to help achieve Sustainable Development Goals: Lessons from India," Technological Forecasting and Social Change, Elsevier, vol. 157(C).
    7. Morteza Yazdani & Pascale Zaraté & Edmundas Kazimieras Zavadskas & Zenonas Turskis, 2019. "A Combined Compromise Solution (CoCoSo) method for multi-criteria decision-making problems," Post-Print hal-02879091, HAL.
    8. Liao, Huchang & Wu, Xingli, 2020. "DNMA: A double normalization-based multiple aggregation method for multi-expert multi-criteria decision making," Omega, Elsevier, vol. 94(C).
    9. Roger Newson, 2006. "Confidence intervals for rank statistics: Percentile slopes, differences, and ratios," Stata Journal, StataCorp LLC, vol. 6(4), pages 497-520, December.
    10. Asif Razzaq & Tehreem Fatima & Muntasir Murshed, 2023. "Asymmetric effects of tourism development and green innovation on economic growth and carbon emissions in top 10 GDP countries," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 66(3), pages 471-500, February.
    11. Roger Newson, 2002. "Parameters behind "nonparametric" statistics: Kendall's tau,Somers' D and median differences," Stata Journal, StataCorp LLC, vol. 2(1), pages 45-64, February.
    12. Alfaro, Laura & Chanda, Areendam & Kalemli-Ozcan, Sebnem & Sayek, Selin, 2004. "FDI and economic growth: the role of local financial markets," Journal of International Economics, Elsevier, vol. 64(1), pages 89-112, October.
    13. Roger Newson, 2006. "Confidence intervals for rank statistics: Somers' D and extensions," Stata Journal, StataCorp LLC, vol. 6(3), pages 309-334, September.
    14. Alkire, Sabina & Santos, Maria Emma, 2014. "Measuring Acute Poverty in the Developing World: Robustness and Scope of the Multidimensional Poverty Index," World Development, Elsevier, vol. 59(C), pages 251-274.
    15. Bertrand Mareschal & Jean Pierre Brans & Philippe Vincke, 1986. "How to select and how to rank projects: the Prométhée method," ULB Institutional Repository 2013/9307, ULB -- Universite Libre de Bruxelles.
    16. Vitaly Kaftan & Wadim Kandalov & Igor Molodtsov & Anna Sherstobitova & Wadim Strielkowski, 2023. "Socio-Economic Stability and Sustainable Development in the Post-COVID Era: Lessons for the Business and Economic Leaders," Sustainability, MDPI, vol. 15(4), pages 1-18, February.
    17. Juan Dempere & Muhammad Qamar & Hesham Allam & Sabir Malik, 2023. "The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective," Economies, MDPI, vol. 11(7), pages 1-22, July.
    18. Yalamanda Babu Gopisetty & Hanumantha Rao Sama, 2025. "An integrated MCDM approach using double normalization: introducing the DN-WENSLO and DN-RPEM methods for socio-economic performance evaluation," Journal of the Operational Research Society, Taylor & Francis Journals, vol. 76(12), pages 2604-2630, December.
    19. Ramphul Ohlan, 2013. "Pattern of Regional Disparities in Socio-economic Development in India: District Level Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 114(3), pages 841-873, December.
    20. Roger B. Newson, 2010. "Comparing the predictive powers of survival models using Harrell’s C or Somers’ D," Stata Journal, StataCorp LLC, vol. 10(3), pages 339-358, September.
    21. Brans, J. P. & Vincke, Ph. & Mareschal, B., 1986. "How to select and how to rank projects: The method," European Journal of Operational Research, Elsevier, vol. 24(2), pages 228-238, February.
    22. Yu Cheng Lin & Sang Do Park, 2023. "Effects of FDI, External Trade, and Human Capital of the ICT Industry on Sustainable Development in Taiwan," Sustainability, MDPI, vol. 15(14), pages 1-24, July.
    23. Ecer, Fatih & Pamucar, Dragan, 2022. "A novel LOPCOW‐DOBI multi‐criteria sustainability performance assessment methodology: An application in developing country banking sector," Omega, Elsevier, vol. 112(C).
    24. N. P. Hariram & K. B. Mekha & Vipinraj Suganthan & K. Sudhakar, 2023. "Sustainalism: An Integrated Socio-Economic-Environmental Model to Address Sustainable Development and Sustainability," Sustainability, MDPI, vol. 15(13), pages 1-37, July.
    25. Robert Costanza & Ida Kubiszewski & Enrico Giovannini & Hunter Lovins & Jacqueline McGlade & Kate E. Pickett & Kristín Vala Ragnarsdóttir & Debra Roberts & Roberto De Vogli & Richard Wilkinson, 2014. "Development: Time to leave GDP behind," Nature, Nature, vol. 505(7483), pages 283-285, January.
    26. Khosravi, Faramarz & Izbirak, Gokhan, 2024. "A framework of index system for gauging the sustainability of iranian provinces by fusing analytical hierarchy process (AHP) and rough set theory (RST)," Socio-Economic Planning Sciences, Elsevier, vol. 95(C).
    27. Gokhan Ozkaya & Mehpare Timor & Ceren Erdin, 2021. "Science, Technology and Innovation Policy Indicators and Comparisons of Countries through a Hybrid Model of Data Mining and MCDM Methods," Sustainability, MDPI, vol. 13(2), pages 1-49, January.
    28. Mehdi KESHAVARZ GHORABAEE & Edmundas Kazimieras ZAVADSKAS & Zenonas TURSKIS & Jurgita ANTUCHEVICIENE, 2016. "A New Combinative Distance-Based Assessment(Codas) Method For Multi-Criteria Decision-Making," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 50(3), pages 25-44.
    29. Nazlı Ersoy & Nuh Keleş, 2024. "Comparison of multi-criteria decision-making methods with the same normalization procedure based on real-life applications," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 34(3), pages 87-100.
    30. Kavita Surana & Anuraag Singh & Ambuj D Sagar, 2020. "Strengthening science, technology, and innovation-based incubators to help achieve Sustainable Development Goals: Lessons from India," Papers 2005.13138, arXiv.org, revised Jun 2020.
    31. Işık, Özcan & Shabir, Mohsin & Moslem, Sarbast, 2024. "A hybrid MCDM framework for assessing urban competitiveness: A case study of European cities," Socio-Economic Planning Sciences, Elsevier, vol. 96(C).
    32. Hagen Kruse & Emmanuel Mensah & Kunal Sen & Gaaitzen Vries, 2023. "A Manufacturing (Re)Naissance? Industrialization in the Developing World," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(2), pages 439-473, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yang, Chih-Hao & Lee, Kuen-Chang, 2020. "Developing a strategy map for forensic accounting with fraud risk management: An integrated balanced scorecard-based decision model," Evaluation and Program Planning, Elsevier, vol. 80(C).
    2. Mahmut Baydaş & Orhan Emre Elma & Željko Stević, 2024. "Proposal of an innovative MCDA evaluation methodology: knowledge discovery through rank reversal, standard deviation, and relationship with stock return," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-35, December.
    3. Ridha, Hussein Mohammed & Gomes, Chandima & Hizam, Hashim & Ahmadipour, Masoud & Heidari, Ali Asghar & Chen, Huiling, 2021. "Multi-objective optimization and multi-criteria decision-making methods for optimal design of standalone photovoltaic system: A comprehensive review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 135(C).
    4. repec:plo:pmed00:1002096 is not listed on IDEAS
    5. Jeannette Brosig‐Koch & Heike Hennig‐Schmidt & Nadja Kairies‐Schwarz & Daniel Wiesen, 2017. "The Effects of Introducing Mixed Payment Systems for Physicians: Experimental Evidence," Health Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 243-262, February.
    6. Dirk Tasche, 2009. "Estimating discriminatory power and PD curves when the number of defaults is small," Papers 0905.3928, arXiv.org, revised Mar 2010.
    7. Hanna Karolina Szymborska, 2018. "Household wealth structures and position in the income distribution – econometric analysis for the USA, 1989-2013," Working Papers PKWP1806, Post Keynesian Economics Society (PKES).
    8. Dariusz Kacprzak, 2024. "A new extension of the EDAS method in a fuzzy environment for group decision-making," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 51(3), pages 263-277, September.
    9. Löschel, Andreas & Sturm, Bodo & Uehleke, Reinhard, 2017. "Revealed preferences for voluntary climate change mitigation when the purely individual perspective is relaxed – evidence from a framed field experiment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 67(C), pages 149-160.
    10. Stephen F Weng & Jenna Reps & Joe Kai & Jonathan M Garibaldi & Nadeem Qureshi, 2017. "Can machine-learning improve cardiovascular risk prediction using routine clinical data?," PLOS ONE, Public Library of Science, vol. 12(4), pages 1-14, April.
    11. Mark A. A. Jwaideh & Carole Dalin, 2025. "The multi-dimensional environmental impact of global crop commodities," Nature Sustainability, Nature, vol. 8(4), pages 396-410, April.
    12. Han, Shaojie & Su, Jingqin & Lyu, Yibo & Liu, Qing, 2022. "How do business incubators govern incubation relationships with different new ventures?," Technovation, Elsevier, vol. 116(C).
    13. Yi Peng, 2015. "Regional earthquake vulnerability assessment using a combination of MCDM methods," Annals of Operations Research, Springer, vol. 234(1), pages 95-110, November.
    14. Denys Yemshanov & Frank H. Koch & Yakov Ben‐Haim & Marla Downing & Frank Sapio & Marty Siltanen, 2013. "A New Multicriteria Risk Mapping Approach Based on a Multiattribute Frontier Concept," Risk Analysis, John Wiley & Sons, vol. 33(9), pages 1694-1709, September.
    15. Guh, Yuh-Yuan, 1997. "Introduction to a new weighting method -- Hierarchy consistency analysis," European Journal of Operational Research, Elsevier, vol. 102(1), pages 215-226, October.
    16. Hajkowicz, Stefan, 2006. "Taking a closer look at multiple criteria analysis and economic evaluation," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139785, Australian Agricultural and Resource Economics Society.
    17. Meløn, Mønica García & Aragonés Beltran, Pablo & Carmen González Cruz, M., 2008. "An AHP-based evaluation procedure for Innovative Educational Projects: A face-to-face vs. computer-mediated case study," Omega, Elsevier, vol. 36(5), pages 754-765, October.
    18. Huang, River & Kadziński, Miłosz & Siskos, Eleftherios & Burgherr, Peter, 2025. "Classifying Swiss geothermal policies with the Group Robust FlowSort method incorporating imprecise inputs and robustness concerns," Energy Economics, Elsevier, vol. 152(C).
    19. Kokaraki, Nikoleta & Hopfe, Christina J. & Robinson, Elaine & Nikolaidou, Elli, 2019. "Testing the reliability of deterministic multi-criteria decision-making methods using building performance simulation," Renewable and Sustainable Energy Reviews, Elsevier, vol. 112(C), pages 991-1007.
    20. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2018. "σ-µ efficiency analysis: A new methodology for evaluating units through composite indices," MPRA Paper 83569, University Library of Munich, Germany.
    21. Juliana Martins Ruzante & Valerie J. Davidson & Julie Caswell & Aamir Fazil & John A. L. Cranfield & Spencer J. Henson & Sven M. Anders & Claudia Schmidt & Jeffrey M. Farber, 2010. "A Multifactorial Risk Prioritization Framework for Foodborne Pathogens," Risk Analysis, John Wiley & Sons, vol. 30(5), pages 724-742, May.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:soceps:v:103:y:2026:i:c:s0038012125001922. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/seps .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.