A novel multi‐criteria decision‐making combining Decision Making Trial and Evaluation Laboratory technique for technology evaluation

Purpose – This study aims to propose a hybrid technology evaluation process integrating the Decision Making Trial and Evaluation Laboratory (DEMATEL) technique and the analytic network process (ANP) with novel MCDM method for the organic light emitting diode (OLED) technology evaluation. The DEMATEL is used to detect and build the complex network relationship map (NRM) among dimensions/criteria. The ANP is employed to conduct the dependence and feedback among criteria and to decide the relative weights of the criteria by super‐matrix. The combination of DEMATEL technique and ANP with novel MCDM method is used to perform for constructing a technology evaluation structure. Design/methodology/approach – This study proposes a hybrid approach integrating the DEMATEL and the ANP to construct a technology evaluation and decision‐making model for OLED. Taiwan is a research base in this study. This is for the purpose of offering an example as to how a technology firm or even a country can evaluate or position certain emerging technology in the process of resource investment decision‐making. Findings – This study suggests a hybrid technology evaluation approach integrating the DEMATEL technique and the ANP approach. When policy makers and R&D planners design R&D programs in emerging technology fields, the authors' proposed model can help to assess whether it is worth investing in the expected technology or not, for all concerned. Besides, using Taiwan's OLED as an example, this study has generated a conclusion comprising several strategic suggestions and managerial implications. Originality/value – The whole approach developed by this study can serve as a reference to construct an evaluation framework to evaluate other technology fields in order to propose some guidance for R&D planning or strategy making in the industry applied the aimed technology. The weights distributed to the prospects and the problems can also serve as a reference of whether the R&D investment in the new technology is worthwhile for all concerned. Future research can adopt the approach proposed in this study to evaluate the worth of R&D investment in other targeted technologies.