Özet:

This study aimed to measure the current cost of living analysis of European Union (EU) countries by using Multi-Criteria Decision Making (MCDM) methods. The data of the research was obtained from a site called Numbeo and the data covers mid-2021. 27 alternatives and five criteria (rent index, cost of living + rent index, grocery index, restaurant price index, local purchasing power index) were included in the scope of the study. While the Entropy method was used to weight the criteria, the COPRAS-ARAS integrated model was used to evaluate the alternatives. The robustness and reliability of the results were determined by applying sensitivity analysis. In this context, first, the criteria were equally weighted and the effect of criteria weights on the results was examined. In the second stage, the results obtained with the Entropy-based COPRAS-ARAS integrated model were compared with the Entropy-based SAW, PIV, ROV, CoCoSo and MARCOS methods. In the last step, the results obtained by various MCDM methods were turned into a rational final ranking using the Copeland method. It was concluded that, Romania was the cheapest country in terms of current cost of living, while Luxembourg was the most expensive country. This is the first study to focus the current cost of living analysis with MCDM methods and it is thought that this study will fill the gap in the literature.

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